OxFORD Asset Management LLP purchased a new position in CDK Global, Inc. (NASDAQ:CDK) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,509 shares of the software maker’s stock, valued at approximately $1,494,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CDK. Macquarie Group Ltd. bought a new position in CDK Global in the third quarter valued at $145,000. D.A. Davidson & CO. increased its stake in CDK Global by 5.6% in the second quarter. D.A. Davidson & CO. now owns 3,130 shares of the software maker’s stock valued at $194,000 after acquiring an additional 167 shares during the last quarter. TrimTabs Asset Management LLC increased its stake in CDK Global by 105.0% in the second quarter. TrimTabs Asset Management LLC now owns 3,766 shares of the software maker’s stock valued at $234,000 after acquiring an additional 1,929 shares during the last quarter. Associated Banc Corp increased its stake in CDK Global by 4.7% in the second quarter. Associated Banc Corp now owns 3,965 shares of the software maker’s stock valued at $246,000 after acquiring an additional 179 shares during the last quarter. Finally, BB&T Securities LLC increased its stake in CDK Global by 46.5% in the third quarter. BB&T Securities LLC now owns 5,398 shares of the software maker’s stock valued at $340,000 after acquiring an additional 1,714 shares during the last quarter. 87.49% of the stock is currently owned by institutional investors and hedge funds.
Shares of CDK Global, Inc. (CDK) opened at $70.76 on Monday. The company has a debt-to-equity ratio of 297.80, a quick ratio of 2.37 and a current ratio of 2.37. CDK Global, Inc. has a 1 year low of $58.52 and a 1 year high of $71.63. The stock has a market cap of $9,730.00, a PE ratio of 28.08, a price-to-earnings-growth ratio of 1.59 and a beta of 0.78.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.15 per share. This is a positive change from CDK Global’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Thursday, November 30th. CDK Global’s dividend payout ratio is currently 29.13%.
Several research firms have issued reports on CDK. Zacks Investment Research lowered shares of CDK Global from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. BidaskClub lowered shares of CDK Global from a “buy” rating to a “hold” rating in a research report on Wednesday, September 13th. TheStreet upgraded shares of CDK Global from a “c+” rating to a “b-” rating in a research report on Thursday, October 19th. Finally, Barrington Research set a $75.00 price target on shares of CDK Global and gave the company a “buy” rating in a research report on Tuesday, October 31st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $72.60.
In other news, VP Jennifer A. Williams sold 1,984 shares of the stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $62.58, for a total transaction of $124,158.72. Following the completion of the sale, the vice president now directly owns 5,560 shares in the company, valued at $347,944.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.39% of the company’s stock.
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CDK Global Profile
CDK Global, Inc provides integrated information technology and digital marketing solutions. The Company’s segments include Retail Solutions North America, Advertising North America and CDK International. Through its Retail Solutions North America segment, the Company provides technology-based solutions, including automotive Website platforms, that help automotive retailers, original equipment manufacturers (OEMs) and other industry participants manage the acquisition, sale, financing, insuring, parts supply, repair and maintenance of vehicles.
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