CDK Global Inc (CDK) Shares Bought by Two Sigma Investments LP

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Two Sigma Investments LP raised its position in shares of CDK Global Inc (NASDAQ:CDK) by 27.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 723,528 shares of the software maker’s stock after purchasing an additional 155,609 shares during the quarter. Two Sigma Investments LP’s holdings in CDK Global were worth $34,643,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. First Trust Advisors LP grew its position in shares of CDK Global by 14.4% during the 3rd quarter. First Trust Advisors LP now owns 21,442 shares of the software maker’s stock worth $1,341,000 after buying an additional 2,697 shares during the period. Victory Capital Management Inc. grew its position in shares of CDK Global by 71.9% during the 3rd quarter. Victory Capital Management Inc. now owns 88,911 shares of the software maker’s stock worth $5,562,000 after buying an additional 37,186 shares during the period. Private Advisor Group LLC grew its position in shares of CDK Global by 55.3% during the 3rd quarter. Private Advisor Group LLC now owns 7,782 shares of the software maker’s stock worth $487,000 after buying an additional 2,771 shares during the period. American Century Companies Inc. acquired a new stake in shares of CDK Global during the 3rd quarter worth approximately $3,246,000. Finally, Janney Montgomery Scott LLC grew its position in shares of CDK Global by 28.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 28,066 shares of the software maker’s stock worth $1,756,000 after buying an additional 6,197 shares during the period. Institutional investors and hedge funds own 80.05% of the company’s stock.

Shares of CDK traded up $0.07 during trading hours on Tuesday, reaching $58.60. The stock had a trading volume of 3,136 shares, compared to its average volume of 938,710. CDK Global Inc has a 12 month low of $44.01 and a 12 month high of $70.99. The stock has a market cap of $7.24 billion, a P/E ratio of 19.31 and a beta of 0.72.

CDK Global (NASDAQ:CDK) last issued its earnings results on Tuesday, February 5th. The software maker reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.12. CDK Global had a negative return on equity of 135.00% and a net margin of 16.36%. The company had revenue of $590.40 million for the quarter, compared to analysts’ expectations of $578.91 million. During the same period last year, the business earned $0.87 EPS. CDK Global’s quarterly revenue was up 5.1% compared to the same quarter last year. Analysts anticipate that CDK Global Inc will post 3.64 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 1st will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Thursday, February 28th. CDK Global’s dividend payout ratio is currently 19.74%.

CDK has been the subject of several recent analyst reports. BidaskClub raised shares of CDK Global from a “hold” rating to a “buy” rating in a research report on Wednesday, February 13th. Zacks Investment Research raised shares of CDK Global from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Friday, February 8th. Finally, Oppenheimer set a $67.00 price objective on shares of CDK Global and gave the stock a “buy” rating in a research report on Tuesday, February 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $67.25.

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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.

Further Reading: What is a Leveraged Buyout (LBO)?

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

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