MUFG Americas Holdings Corp cut its stake in CDK Global Inc (NASDAQ:CDK) by 6.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,485 shares of the software maker’s stock after selling 683 shares during the period. MUFG Americas Holdings Corp’s holdings in CDK Global were worth $456,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of CDK. Berman Capital Advisors LLC grew its holdings in CDK Global by 76.0% during the 2nd quarter. Berman Capital Advisors LLC now owns 623 shares of the software maker’s stock worth $30,000 after acquiring an additional 269 shares in the last quarter. River & Mercantile Asset Management LLP bought a new position in CDK Global during the 2nd quarter worth about $31,000. AdvisorNet Financial Inc grew its holdings in CDK Global by 73.9% during the 3rd quarter. AdvisorNet Financial Inc now owns 654 shares of the software maker’s stock worth $31,000 after acquiring an additional 278 shares in the last quarter. Cordasco Financial Network bought a new position in CDK Global during the 2nd quarter worth about $33,000. Finally, Wealthcare Advisory Partners LLC grew its holdings in CDK Global by 224.9% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 692 shares of the software maker’s stock worth $34,000 after acquiring an additional 479 shares in the last quarter. Hedge funds and other institutional investors own 80.97% of the company’s stock.
Several research analysts have issued reports on the stock. BidaskClub upgraded shares of CDK Global from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 7th. ValuEngine cut shares of CDK Global from a “hold” rating to a “sell” rating in a report on Friday, November 8th. Barrington Research reiterated a “buy” rating and set a $65.00 target price on shares of CDK Global in a report on Monday, August 19th. Finally, Zacks Investment Research cut shares of CDK Global from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $64.67.
CDK Global (NASDAQ:CDK) last posted its quarterly earnings results on Tuesday, November 5th. The software maker reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.10. The company had revenue of $494.60 million during the quarter, compared to analyst estimates of $485.00 million. CDK Global had a net margin of 5.32% and a negative return on equity of 72.27%. CDK Global’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the firm posted $0.89 EPS. As a group, sell-side analysts expect that CDK Global Inc will post 3.22 EPS for the current year.
About CDK Global
CDK Global, Inc provides software and technology solutions for automotive retailers in the United States and internationally. The company operates through Retail Solutions North America, Advertising North America, and CDK International segments. The company offers Dealer Management System (DMS), a portfolio of layered software applications and services for automotive retailers, original equipment manufacturers (OEMs), consumers, and other industry participants manage the acquisition, sale, financing, insuring, parts supply, and repair and maintenance of vehicles.
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