CDK Global Inc (NASDAQ:CDK) Shares Purchased by PGGM Investments

PGGM Investments increased its stake in shares of CDK Global Inc (NASDAQ:CDK) by 21.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 280,333 shares of the software maker’s stock after purchasing an additional 50,000 shares during the quarter. PGGM Investments owned 0.23% of CDK Global worth $13,860,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of CDK Global in the 4th quarter valued at about $70,821,000. JPMorgan Chase & Co. grew its holdings in shares of CDK Global by 373.1% in the 1st quarter. JPMorgan Chase & Co. now owns 1,054,155 shares of the software maker’s stock worth $62,005,000 after acquiring an additional 831,335 shares during the period. Janus Henderson Group PLC grew its holdings in shares of CDK Global by 975.9% in the 1st quarter. Janus Henderson Group PLC now owns 557,107 shares of the software maker’s stock worth $32,768,000 after acquiring an additional 505,327 shares during the period. Waratah Capital Advisors Ltd. acquired a new stake in shares of CDK Global in the 1st quarter worth approximately $28,194,000. Finally, Anchor Capital Advisors LLC grew its holdings in shares of CDK Global by 69.5% in the 1st quarter. Anchor Capital Advisors LLC now owns 895,399 shares of the software maker’s stock worth $52,667,000 after acquiring an additional 366,993 shares during the period. 81.82% of the stock is owned by hedge funds and other institutional investors.

In other CDK Global news, General Counsel Lee J. Brunz sold 1,000 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $50.74, for a total transaction of $50,740.00. Following the transaction, the general counsel now owns 37,927 shares of the company’s stock, valued at approximately $1,924,415.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.50% of the company’s stock.

A number of equities research analysts recently weighed in on the company. BidaskClub cut CDK Global from a “buy” rating to a “hold” rating in a report on Tuesday. ValuEngine upgraded CDK Global from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Barrington Research reiterated a “buy” rating on shares of CDK Global in a report on Monday, April 29th. Finally, Zacks Investment Research cut CDK Global from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. CDK Global presently has a consensus rating of “Hold” and a consensus price target of $67.75.

NASDAQ:CDK traded up $0.25 during trading hours on Tuesday, reaching $47.79. 38,096 shares of the company traded hands, compared to its average volume of 699,118. The firm’s 50-day simple moving average is $50.56. The stock has a market capitalization of $6.16 billion, a PE ratio of 15.71, a P/E/G ratio of 1.31 and a beta of 0.85. CDK Global Inc has a 1-year low of $44.01 and a 1-year high of $64.77.

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

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