Mitchell Mcleod Pugh & Williams Inc. acquired a new stake in shares of CDK Global Inc (NASDAQ:CDK) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,726 shares of the software maker’s stock, valued at approximately $219,000.
A number of other hedge funds also recently bought and sold shares of the stock. Boston Partners raised its holdings in 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 during the period. Oregon Public Employees Retirement Fund raised its holdings in 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 during the period. Bank of New York Mellon Corp raised its holdings in 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 during the period. Lakewood Capital Management LP raised its holdings in 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 during the period. Finally, FMR LLC raised its holdings in CDK Global by 16.6% during the fourth quarter. FMR LLC now owns 1,968,049 shares of the software maker’s stock valued at $94,231,000 after acquiring an additional 280,108 shares during the period. 82.20% of the stock is owned by institutional investors.
NASDAQ CDK traded up $0.45 during trading hours on Friday, hitting $55.80. 979,463 shares of the company were exchanged, compared to its average volume of 1,053,498. CDK Global Inc has a 52 week low of $44.01 and a 52 week high of $67.97. The stock has a market capitalization of $6.90 billion, a P/E ratio of 18.36 and a beta of 0.71.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, May 31st. This represents a $0.60 annualized dividend and a yield of 1.08%. CDK Global’s payout ratio is currently 19.74%.
A number of research firms have commented on CDK. Barrington Research reissued a “buy” rating on shares of CDK Global in a report on Monday. BidaskClub raised CDK Global from a “hold” rating to a “buy” rating in a report on Tuesday, April 16th. Zacks Investment Research cut CDK Global from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. Finally, ValuEngine raised CDK Global from a “sell” rating to a “hold” rating in a report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $67.75.
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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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