Amundi Pioneer Asset Management Inc. Has $7.18 Million Holdings in CDK Global Inc (CDK)

Amundi Pioneer Asset Management Inc. lessened its position in CDK Global Inc (NASDAQ:CDK) by 34.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 149,934 shares of the software maker’s stock after selling 80,391 shares during the quarter. Amundi Pioneer Asset Management Inc. owned 0.12% of CDK Global worth $7,180,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of CDK Global by 4.8% during the third quarter. BlackRock Inc. now owns 14,017,687 shares of the software maker’s stock valued at $876,946,000 after acquiring an additional 643,215 shares in the last quarter. Boston Partners increased its position in shares of CDK Global by 4.7% during the fourth quarter. Boston Partners now owns 3,217,824 shares of the software maker’s stock valued at $154,069,000 after acquiring an additional 144,881 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of CDK Global by 4,688.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,470,752 shares of the software maker’s stock valued at $52,000 after acquiring an additional 2,419,149 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of CDK Global by 3.9% during the third quarter. Bank of New York Mellon Corp now owns 2,434,421 shares of the software maker’s stock valued at $152,298,000 after acquiring an additional 90,332 shares in the last quarter. Finally, Lakewood Capital Management LP increased its position in shares of CDK Global by 55.2% during the fourth quarter. Lakewood Capital Management LP now owns 2,109,717 shares of the software maker’s stock valued at $101,013,000 after acquiring an additional 750,000 shares in the last quarter. 81.77% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have commented on the stock. Oppenheimer set a $67.00 target price on shares of CDK Global and gave the stock a “buy” rating in a research report on Tuesday, February 5th. BidaskClub raised shares of CDK Global from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Zacks Investment Research upgraded shares of CDK Global from a “sell” rating to a “hold” rating in a research note on Friday, January 11th. Finally, ValuEngine upgraded shares of CDK Global from a “sell” rating to a “hold” rating in a research note on Monday, March 25th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $67.25.

CDK opened at $59.92 on Tuesday. CDK Global Inc has a fifty-two week low of $44.01 and a fifty-two week high of $67.97. The firm has a market cap of $7.34 billion, a P/E ratio of 19.71 and a beta of 0.72.

CDK Global (NASDAQ:CDK) last released its earnings results on Tuesday, February 5th. The software maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.12. The company had revenue of $590.40 million for the quarter, compared to analysts’ expectations of $578.91 million. CDK Global had a net margin of 16.36% and a negative return on equity of 135.00%. CDK Global’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.87 EPS. As a group, research analysts expect that CDK Global Inc will post 3.64 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 1st were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Thursday, February 28th. CDK Global’s payout ratio is currently 19.74%.

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

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