CDK Global Inc (CDK) Holdings Raised by Anchor Capital Advisors LLC

Anchor Capital Advisors LLC raised its position in CDK Global Inc (NASDAQ:CDK) by 50.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 456,291 shares of the software maker’s stock after purchasing an additional 153,881 shares during the period. Anchor Capital Advisors LLC owned approximately 0.35% of CDK Global worth $28,546,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Clarkston Capital Partners LLC bought a new stake in CDK Global in the third quarter valued at approximately $43,048,000. Baird Financial Group Inc. increased its stake in CDK Global by 50.1% in the second quarter. Baird Financial Group Inc. now owns 16,698 shares of the software maker’s stock valued at $1,086,000 after purchasing an additional 5,573 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its holdings in shares of CDK Global by 9.9% in the second quarter. Nissay Asset Management Corp Japan ADV now owns 10,487 shares of the software maker’s stock valued at $682,000 after buying an additional 949 shares during the period. HPM Partners LLC acquired a new position in shares of CDK Global in the second quarter valued at approximately $303,000. Finally, Signet Financial Management LLC boosted its holdings in shares of CDK Global by 1.4% in the second quarter. Signet Financial Management LLC now owns 69,569 shares of the software maker’s stock valued at $4,525,000 after buying an additional 949 shares during the period. 82.18% of the stock is owned by hedge funds and other institutional investors.

CDK opened at $57.24 on Thursday. CDK Global Inc has a 1-year low of $55.75 and a 1-year high of $76.04. The company has a market capitalization of $7.36 billion, a PE ratio of 18.83, a P/E/G ratio of 1.54 and a beta of 0.68.

CDK Global (NASDAQ:CDK) last posted its quarterly earnings results on Tuesday, August 14th. The software maker reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.07. CDK Global had a net margin of 16.75% and a negative return on equity of 235.59%. The company had revenue of $569.20 million for the quarter, compared to the consensus estimate of $578.99 million. During the same period last year, the company posted $0.55 EPS. The firm’s quarterly revenue was up .7% compared to the same quarter last year. Sell-side analysts anticipate that CDK Global Inc will post 3.72 earnings per share for the current year.

In other news, VP Jennifer A. Williams sold 4,114 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $61.65, for a total value of $253,628.10. Following the sale, the vice president now directly owns 5,012 shares in the company, valued at approximately $308,989.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.50% of the company’s stock.

Several research analysts have recently weighed in on the stock. BidaskClub upgraded shares of CDK Global from a “sell” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research upgraded shares of CDK Global from a “sell” rating to a “hold” rating in a report on Tuesday, October 16th. ValuEngine cut shares of CDK Global from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. Morgan Stanley reduced their price target on shares of CDK Global from $75.00 to $68.00 and set an “equal weight” rating for the company in a report on Wednesday, August 15th. Finally, Barrington Research restated a “buy” rating and issued a $80.00 price target on shares of CDK Global in a research note on Monday, August 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. CDK Global currently has an average rating of “Hold” and an average target price of $75.00.

About CDK Global

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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