Mackenzie Financial Corp Purchases 8,459 Shares of CDK Global, Inc. (NASDAQ:CDK)

Mackenzie Financial Corp grew its position in shares of CDK Global, Inc. (NASDAQ:CDK) by 34.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,311 shares of the software maker’s stock after buying an additional 8,459 shares during the quarter. Mackenzie Financial Corp’s holdings in CDK Global were worth $1,417,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Russell Investments Group Ltd. increased its stake in shares of CDK Global by 220.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 15,389 shares of the software maker’s stock worth $653,000 after purchasing an additional 10,593 shares during the last quarter. Advisory Services Network LLC increased its stake in shares of CDK Global by 12.3% during the 3rd quarter. Advisory Services Network LLC now owns 6,954 shares of the software maker’s stock worth $296,000 after purchasing an additional 762 shares during the last quarter. Moors & Cabot Inc. purchased a new stake in shares of CDK Global during the 3rd quarter worth approximately $2,665,000. Daiwa Securities Group Inc. increased its stake in shares of CDK Global by 50.1% during the 3rd quarter. Daiwa Securities Group Inc. now owns 50,585 shares of the software maker’s stock worth $2,152,000 after purchasing an additional 16,895 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC increased its stake in shares of CDK Global by 33.3% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 2,127,285 shares of the software maker’s stock worth $90,515,000 after purchasing an additional 531,956 shares during the last quarter. Institutional investors own 89.28% of the company’s stock.

CDK opened at $43.58 on Friday. The company has a fifty day moving average price of $41.18 and a 200-day moving average price of $43.58. The firm has a market capitalization of $5.16 billion, a P/E ratio of 5.10 and a beta of 1.30. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.42 and a quick ratio of 1.42. CDK Global, Inc. has a one year low of $38.53 and a one year high of $55.51.

CDK Global (NASDAQ:CDK) last posted its quarterly earnings data on Monday, November 1st. The software maker reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.10. CDK Global had a net margin of 61.80% and a return on equity of 119.09%. The company had revenue of $440.00 million during the quarter, compared to the consensus estimate of $441.05 million. During the same period in the previous year, the firm posted $0.74 EPS. On average, analysts expect that CDK Global, Inc. will post 2.42 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 30th. Stockholders of record on Tuesday, March 1st will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Monday, February 28th. CDK Global’s dividend payout ratio is currently 7.02%.

Several equities research analysts have recently issued reports on CDK shares. Zacks Investment Research lowered shares of CDK Global from a “hold” rating to a “sell” rating in a research note on Tuesday. Morgan Stanley lowered shares of CDK Global from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $56.00 to $48.00 in a research note on Thursday, December 16th.

CDK Global Company Profile

CDK Global, Inc engages in the provision of integrated information technology and digital marketing solutions to the automotive, heavy truck, recreation, and heavy equipment industries. The firm focuses on providing a suite of subscription-based software and technology solutions for automotive retailers in North America.

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Institutional Ownership by Quarter for CDK Global (NASDAQ:CDK)

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