Amalgamated Bank boosted its stake in CDK Global Inc. (NASDAQ:CDK) by 126.7% during the second quarter, Holdings Channel reports. The fund owned 13,633 shares of the company’s stock after buying an additional 7,619 shares during the period. Amalgamated Bank’s holdings in CDK Global were worth $798,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of CDK Global by 2.1% in the second quarter. Vanguard Group Inc. now owns 11,696,336 shares of the company’s stock valued at $649,030,000 after buying an additional 239,327 shares during the last quarter. Elliott Management Corp boosted its stake in CDK Global by 0.8% in the first quarter. Elliott Management Corp now owns 8,110,000 shares of the company’s stock worth $377,521,000 after buying an additional 64,206 shares in the last quarter. State Street Corp boosted its stake in CDK Global by 1.9% in the second quarter. State Street Corp now owns 6,476,722 shares of the company’s stock worth $359,387,000 after buying an additional 121,391 shares in the last quarter. Blue Ridge Capital L.L.C. boosted its stake in CDK Global by 0.4% in the second quarter. Blue Ridge Capital L.L.C. now owns 6,158,000 shares of the company’s stock worth $341,707,000 after buying an additional 26,400 shares in the last quarter. Finally, BlackRock Fund Advisors boosted its stake in CDK Global by 4.2% in the second quarter. BlackRock Fund Advisors now owns 5,949,421 shares of the company’s stock worth $330,133,000 after buying an additional 239,934 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.
CDK Global Inc. (NASDAQ:CDK) traded up 1.43% on Friday, reaching $55.89. The company’s stock had a trading volume of 469,448 shares. CDK Global Inc. has a 1-year low of $39.67 and a 1-year high of $60.09. The company has a market capitalization of $8355.67 billion, a price-to-earnings ratio of 33.67 and a beta of 0.70. The firm’s 50 day moving average price is $55.71 and its 200-day moving average price is $55.66.
CDK Global (NASDAQ:CDK) last issued its earnings results on Wednesday, November 2nd. The company reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.07. The business earned $550.70 million during the quarter, compared to analyst estimates of $538.63 million. CDK Global had a return on equity of 59.26% and a net margin of 11.96%. CDK Global’s revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 EPS. Equities analysts forecast that CDK Global Inc. will post $2.34 earnings per share for the current year.
A number of research analysts have recently issued reports on the company. Zacks Investment Research raised CDK Global from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a report on Tuesday, October 4th. TheStreet raised CDK Global from a “hold” rating to a “buy” rating in a report on Wednesday, November 2nd. Finally, William Blair assumed coverage on CDK Global in a report on Wednesday, October 12th. They set a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $55.75.
CDK Global Company Profile
CDK Global, Inc is a provider of integrated information technology and digital marketing/advertising solutions to the automotive retail industry. The Company’s segments are Automotive Retail North America (ARNA), Automotive Retail International (ARI) and Digital Marketing (DM). The Company’s solutions automate workflow processes from pre-sale targeted advertising and marketing campaigns to the sale, financing, insurance, parts supply, and repair and maintenance of vehicles.