Nisa Investment Advisors LLC lessened its position in CDK Global Inc (NASDAQ:CDK) by 2.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 48,488 shares of the software maker’s stock after selling 1,000 shares during the period. Nisa Investment Advisors LLC’s holdings in CDK Global were worth $2,008,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the company. Advisors Asset Management Inc. boosted its stake in shares of CDK Global by 14.4% in the 4th quarter. Advisors Asset Management Inc. now owns 2,310 shares of the software maker’s stock valued at $126,000 after purchasing an additional 291 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its stake in shares of CDK Global by 2.8% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 12,002 shares of the software maker’s stock valued at $394,000 after purchasing an additional 323 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of CDK Global by 2.2% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 16,004 shares of the software maker’s stock valued at $663,000 after purchasing an additional 337 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its stake in shares of CDK Global by 5.5% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 7,160 shares of the software maker’s stock valued at $235,000 after purchasing an additional 376 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new stake in shares of CDK Global in the 4th quarter valued at $5,468,000. Institutional investors own 82.42% of the company’s stock.
CDK has been the topic of several recent analyst reports. ValuEngine upgraded shares of CDK Global from a “sell” rating to a “hold” rating in a research note on Friday, July 3rd. Wells Fargo & Co reaffirmed a “buy” rating and issued a $50.00 price target (up from $45.00) on shares of CDK Global in a report on Wednesday, July 15th. They noted that the move was a valuation call. Zacks Investment Research cut CDK Global from a “hold” rating to a “sell” rating in a report on Wednesday, May 27th. BidaskClub raised CDK Global from a “sell” rating to a “hold” rating in a report on Tuesday, July 21st. Finally, Morgan Stanley raised CDK Global from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $38.00 to $55.00 in a report on Monday, June 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. CDK Global has a consensus rating of “Hold” and a consensus target price of $56.80.
In related news, CAO Jennifer A. Williams sold 3,407 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $40.40, for a total value of $137,642.80. Following the sale, the chief accounting officer now owns 8,657 shares in the company, valued at approximately $349,742.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.36% of the stock is currently owned by corporate insiders.
Shares of NASDAQ:CDK opened at $45.46 on Friday. The stock has a market capitalization of $5.52 billion, a P/E ratio of 909.38 and a beta of 1.33. CDK Global Inc has a 1-year low of $29.12 and a 1-year high of $57.00. The business has a 50-day moving average price of $41.85 and a two-hundred day moving average price of $42.56.
CDK Global (NASDAQ:CDK) last announced its quarterly earnings data on Tuesday, May 5th. The software maker reported $0.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.11. The firm had revenue of $516.30 million during the quarter, compared to analysts’ expectations of $496.30 million. CDK Global had a negative return on equity of 59.38% and a net margin of 0.35%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.87 EPS. Sell-side analysts expect that CDK Global Inc will post 2.83 EPS for the current fiscal year.
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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