New York State Common Retirement Fund grew its position in shares of CDK Global Inc (NASDAQ:CDK) by 5.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 497,000 shares of the software maker’s stock after purchasing an additional 24,300 shares during the quarter. New York State Common Retirement Fund’s holdings in CDK Global were worth $29,234,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in CDK. First Republic Investment Management Inc. increased its stake in shares of CDK Global by 24.3% in the 1st quarter. First Republic Investment Management Inc. now owns 20,611 shares of the software maker’s stock valued at $1,212,000 after acquiring an additional 4,029 shares in the last quarter. LSV Asset Management bought a new stake in shares of CDK Global in the 4th quarter valued at $2,922,000. Raymond James Financial Services Advisors Inc. increased its stake in shares of CDK Global by 5.9% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 16,777 shares of the software maker’s stock valued at $803,000 after acquiring an additional 940 shares in the last quarter. Arizona State Retirement System increased its stake in shares of CDK Global by 7.7% in the 4th quarter. Arizona State Retirement System now owns 126,553 shares of the software maker’s stock valued at $6,059,000 after acquiring an additional 9,075 shares in the last quarter. Finally, Texas Permanent School Fund increased its stake in shares of CDK Global by 3.5% in the 4th quarter. Texas Permanent School Fund now owns 84,268 shares of the software maker’s stock valued at $4,035,000 after acquiring an additional 2,823 shares in the last quarter. Hedge funds and other institutional investors own 82.66% of the company’s stock.
NASDAQ CDK opened at $50.21 on Monday. CDK Global Inc has a 12-month low of $44.01 and a 12-month high of $67.97. The firm has a market capitalization of $6.11 billion, a P/E ratio of 16.52, a price-to-earnings-growth ratio of 1.38 and a beta of 0.71.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Friday, May 31st. CDK Global’s dividend payout ratio is 19.74%.
Several research firms recently issued reports on CDK. Zacks Investment Research raised shares of CDK Global from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research report on Friday, May 3rd. BidaskClub raised shares of CDK Global from a “hold” rating to a “buy” rating in a research report on Wednesday, February 13th. Oppenheimer set a $67.00 price target on shares of CDK Global and gave the company a “buy” rating in a research report on Tuesday, February 5th. Barrington Research reissued a “buy” rating on shares of CDK Global in a research report on Monday, April 29th. Finally, ValuEngine raised shares of CDK Global from a “sell” rating to a “hold” rating in a research report on Monday, March 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $67.75.
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CDK Global 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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