State of Alaska Department of Revenue decreased its position in CDK Global Inc (NASDAQ:CDK) by 7.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,711 shares of the software maker’s stock after selling 1,810 shares during the quarter. State of Alaska Department of Revenue’s holdings in CDK Global were worth $1,335,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the company. Bruderman Asset Management LLC boosted its stake in shares of CDK Global by 722.7% in the 4th quarter. Bruderman Asset Management LLC now owns 543 shares of the software maker’s stock valued at $26,000 after purchasing an additional 477 shares in the last quarter. CX Institutional acquired a new position in CDK Global during the 4th quarter worth about $27,000. Essex Investment Management Co. LLC acquired a new position in CDK Global during the 4th quarter worth about $30,000. Laurel Wealth Advisors LLC acquired a new position in CDK Global during the 4th quarter worth about $32,000. Finally, Liberty Wealth Management LLC acquired a new position in CDK Global during the 4th quarter worth about $32,000. 82.40% of the stock is currently owned by institutional investors.
NASDAQ:CDK traded down $0.16 on Friday, hitting $52.46. 873,629 shares of the stock were exchanged, compared to its average volume of 849,295. The stock has a market capitalization of $6.40 billion, a P/E ratio of 17.26 and a beta of 0.71. CDK Global Inc has a 52 week low of $44.01 and a 52 week high of $67.97.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Monday, June 3rd will be paid a $0.15 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.14%. CDK Global’s dividend payout ratio (DPR) is presently 19.74%.
Several research analysts recently issued reports on CDK shares. Zacks Investment Research upgraded shares of CDK Global from a “sell” rating to a “hold” rating in a research report on Friday, January 11th. BidaskClub downgraded shares of CDK Global from a “buy” rating to a “hold” rating in a research report on Friday, March 15th. Oppenheimer set a $67.00 price target on shares of CDK Global and gave the stock a “buy” rating in a research report on Tuesday, February 5th. ValuEngine downgraded shares of CDK Global from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Finally, Barrington Research reiterated a “buy” rating on shares of CDK Global in a research report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $67.75.
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CDK Global Company Profile
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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