Janney Montgomery Scott LLC grew its stake in CDK Global Inc (NASDAQ:CDK) by 253.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 21,869 shares of the software maker’s stock after acquiring an additional 15,675 shares during the period. Janney Montgomery Scott LLC’s holdings in CDK Global were worth $1,423,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in the company. Old Mutual Global Investors UK Ltd. boosted its holdings in shares of CDK Global by 685.6% in the 1st quarter. Old Mutual Global Investors UK Ltd. now owns 1,008,568 shares of the software maker’s stock valued at $63,882,000 after buying an additional 880,182 shares in the last quarter. BlackRock Inc. increased its holdings in CDK Global by 6.8% during the 1st quarter. BlackRock Inc. now owns 13,565,807 shares of the software maker’s stock valued at $859,260,000 after acquiring an additional 859,949 shares in the last quarter. Millennium Management LLC increased its holdings in CDK Global by 802.2% during the 1st quarter. Millennium Management LLC now owns 760,356 shares of the software maker’s stock valued at $48,161,000 after acquiring an additional 676,076 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of CDK Global by 84.6% during the 1st quarter. Toronto Dominion Bank now owns 936,475 shares of the software maker’s stock worth $59,302,000 after purchasing an additional 429,043 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its stake in shares of CDK Global by 82.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 646,030 shares of the software maker’s stock worth $40,920,000 after purchasing an additional 291,925 shares during the last quarter. 81.77% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have issued reports on CDK. BidaskClub raised shares of CDK Global from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 16th. Zacks Investment Research raised shares of CDK Global from a “sell” rating to a “hold” rating in a research report on Tuesday, June 26th. ValuEngine cut shares of CDK Global from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. Finally, Barrington Research reissued a “buy” rating and issued a $80.00 target price on shares of CDK Global in a research report on Monday, August 13th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $75.00.
CDK Global (NASDAQ:CDK) last announced its quarterly earnings results on Tuesday, August 14th. The software maker reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.07. The firm had revenue of $569.20 million for the quarter, compared to analysts’ expectations of $578.99 million. CDK Global had a net margin of 16.75% and a negative return on equity of 235.59%. CDK Global’s revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.55 earnings per share. equities analysts forecast that CDK Global Inc will post 3.72 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Tuesday, September 4th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Friday, August 31st. CDK Global’s dividend payout ratio is presently 19.74%.
In other CDK Global news, VP Jennifer A. Williams sold 4,114 shares of CDK Global stock in a transaction on Monday, August 27th. The shares were sold at an average price of $61.65, for a total value of $253,628.10. Following the completion of the transaction, the vice president now owns 5,012 shares of the company’s stock, valued at $308,989.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.39% of the company’s stock.
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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