Pictet Asset Management Ltd. boosted its stake in shares of CDK Global Inc (NASDAQ:CDK) by 6.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,014 shares of the software maker’s stock after purchasing an additional 2,800 shares during the period. Pictet Asset Management Ltd.’s holdings in CDK Global were worth $2,275,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of CDK. Berman Capital Advisors LLC boosted its position in CDK Global by 76.0% during the second quarter. Berman Capital Advisors LLC now owns 623 shares of the software maker’s stock valued at $30,000 after purchasing an additional 269 shares during the last quarter. Cordasco Financial Network acquired a new position in CDK Global during the second quarter valued at approximately $33,000. Wealthcare Advisory Partners LLC boosted its position in CDK Global by 224.9% during the second quarter. Wealthcare Advisory Partners LLC now owns 692 shares of the software maker’s stock valued at $34,000 after purchasing an additional 479 shares during the last quarter. Alpha Windward LLC boosted its position in CDK Global by 41.1% during the second quarter. Alpha Windward LLC now owns 965 shares of the software maker’s stock valued at $51,000 after purchasing an additional 281 shares during the last quarter. Finally, Icon Wealth Partners LLC bought a new stake in CDK Global in the first quarter valued at approximately $59,000. 81.35% 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 firm’s 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 in the company, valued at approximately $1,924,415.98. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 2,000 shares of company stock worth $95,440. Corporate insiders own 0.50% of the company’s stock.
Shares of NASDAQ CDK traded up $0.65 during trading hours on Thursday, reaching $46.99. 22,864 shares of the stock were exchanged, compared to its average volume of 766,468. The firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of 15.01, a P/E/G ratio of 1.40 and a beta of 0.90. CDK Global Inc has a 52 week low of $41.50 and a 52 week high of $64.77. The stock’s fifty day simple moving average is $45.91 and its 200 day simple moving average is $51.98.
CDK Global (NASDAQ:CDK) last announced its earnings results on Tuesday, August 13th. The software maker reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.02. The company had revenue of $488.60 million for the quarter, compared to analyst estimates of $585.10 million. CDK Global had a negative return on equity of 90.04% and a net margin of 5.55%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.87 earnings per share. On average, research analysts predict that CDK Global Inc will post 3.19 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, August 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.28%. CDK Global’s dividend payout ratio (DPR) is currently 19.11%.
Several analysts have issued reports on the company. ValuEngine lowered CDK Global from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. BidaskClub upgraded CDK Global from a “sell” rating to a “hold” rating in a research note on Friday, September 13th. Zacks Investment Research lowered CDK Global from a “hold” rating to a “strong sell” rating in a research note on Monday, August 19th. Finally, Barrington Research restated a “buy” rating and issued a $65.00 price objective on shares of CDK Global in a research note on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $64.00.
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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