The CDK Global, Inc. (CDK) Stake Raised by Nomura Asset Management Co. Ltd.

The CDK Global, Inc. (CDK) Stake Raised by Nomura Asset Management Co. Ltd.

Several other large investors have also recently modified their holdings of the company. TrimTabs Asset Management LLC boosted its stake in shares of CDK Global by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 1,837 shares of the software maker’s stock valued at $119,000 after buying an additional 864 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in shares of CDK Global by 1.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,979 shares of the software maker’s stock valued at $129,000 after buying an additional 23 shares during the last quarter. Acrospire Investment Management LLC boosted its stake in shares of CDK Global by 17.6% in the first quarter. Acrospire Investment Management LLC now owns 2,000 shares of the software maker’s stock valued at $130,000 after buying an additional 300 shares during the last quarter. Pinnacle Bank bought a new stake in shares of CDK Global during the first quarter valued at $137,000. Finally, Penserra Capital Management LLC boosted its stake in shares of CDK Global by 9.5% in the first quarter. Penserra Capital Management LLC now owns 2,622 shares of the software maker’s stock valued at $170,000 after buying an additional 228 shares during the last quarter. 83.30% of the stock is currently owned by hedge funds and other institutional investors.

Nomura Asset Management Co. Ltd. boosted its stake in CDK Global, Inc. (NASDAQ:CDK) by 2.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 16,170 shares of the software maker’s stock after buying an additional 330 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in CDK Global were worth $1,052,000 as of its most recent SEC filing.

Shares of CDK Global, Inc. (NASDAQ:CDK) traded down 0.40% during mid-day trading on Tuesday, hitting $62.03. The company had a trading volume of 570,496 shares. The firm has a 50-day moving average price of $63.31 and a 200 day moving average price of $63.66. The firm has a market capitalization of $8.85 billion, a price-to-earnings ratio of 31.17 and a beta of 0.74. CDK Global, Inc. has a 52-week low of $53.46 and a 52-week high of $67.49.

CDK Global (NASDAQ:CDK) last issued its quarterly earnings results on Tuesday, August 1st. The software maker reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.01. CDK Global had a net margin of 13.31% and a return on equity of 204.80%. The company had revenue of $565.40 million during the quarter, compared to analysts’ expectations of $556.68 million. During the same quarter last year, the company posted $0.49 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. Analysts expect that CDK Global, Inc. will post $2.95 earnings per share for the current year.

Several equities research analysts have weighed in on the company. Zacks Investment Research raised CDK Global from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. BidaskClub lowered CDK Global from a “buy” rating to a “hold” rating in a research report on Friday. TheStreet lowered CDK Global from a “c” rating to a “d+” rating in a research report on Tuesday, August 1st. Wells Fargo & Company upgraded CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research report on Wednesday, June 21st. Finally, Evercore ISI upgraded CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 target price for the company in a research report on Monday, July 10th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $71.75.

In other CDK Global news, insider Brian P. Macdonald purchased 5,000 shares of the firm’s stock in a transaction on Friday, May 26th. The stock was bought at an average price of $60.47 per share, with a total value of $302,350.00. Following the transaction, the insider now directly owns 96,877 shares of the company’s stock, valued at approximately $5,858,152.19. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.34% of the company’s stock.

About CDK Global

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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