White Pine Investment CO cut its position in CDK Global, Inc. (NASDAQ:CDK) by 16.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 4,080 shares of the software maker’s stock after selling 820 shares during the period. White Pine Investment CO’s holdings in CDK Global were worth $253,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the company. BlackRock Inc. raised its stake in CDK Global by 5,907.6% in the first quarter. BlackRock Inc. now owns 13,196,582 shares of the software maker’s stock worth $857,910,000 after buying an additional 12,976,917 shares during the period. Findlay Park Partners LLP acquired a new stake in CDK Global during the first quarter worth approximately $50,383,000. AQR Capital Management LLC raised its stake in CDK Global by 191.3% in the first quarter. AQR Capital Management LLC now owns 1,065,874 shares of the software maker’s stock worth $69,292,000 after buying an additional 699,914 shares during the period. Morgan Stanley raised its stake in CDK Global by 82.9% in the first quarter. Morgan Stanley now owns 1,383,037 shares of the software maker’s stock worth $89,913,000 after buying an additional 627,062 shares during the period. Finally, Wells Fargo & Company MN raised its position in shares of CDK Global by 175.8% in the first quarter. Wells Fargo & Company MN now owns 787,979 shares of the software maker’s stock worth $51,226,000 after buying an additional 502,276 shares during the last quarter. 83.30% of the stock is owned by institutional investors and hedge funds.
CDK Global, Inc. (NASDAQ:CDK) traded up 0.23% on Friday, hitting $61.29. The stock had a trading volume of 578,843 shares. CDK Global, Inc. has a 12-month low of $53.46 and a 12-month high of $67.49. The company has a market capitalization of $8.59 billion, a PE ratio of 30.80 and a beta of 0.74. The company has a 50 day moving average of $63.22 and a 200 day moving average of $63.72.
CDK Global (NASDAQ:CDK) last issued its quarterly earnings data on Tuesday, August 1st. The software maker reported $0.55 earnings per share for the quarter, topping the 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 for the quarter, compared to analysts’ expectations of $556.68 million. During the same quarter in the previous year, the firm posted $0.49 earnings per share. CDK Global’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities analysts expect that CDK Global, Inc. will post $2.95 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Monday, September 11th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.56 dividend on an annualized basis and a yield of 0.91%. CDK Global’s dividend payout ratio (DPR) is currently 28.00%.
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A number of research analysts have commented on the company. BidaskClub lowered CDK Global from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. TheStreet lowered CDK Global from a “c” rating to a “d+” rating in a research report on Tuesday, August 1st. Zacks Investment Research upgraded CDK Global from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Evercore ISI upgraded CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 price objective on the stock in a research report on Monday, July 10th. Finally, Wells Fargo & Company upgraded CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 price target on the stock in a research report on Wednesday, June 21st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $71.75.
In other news, insider Brian P. Macdonald purchased 5,000 shares of the business’s stock in a transaction on Friday, May 26th. The shares were acquired at an average price of $60.47 per share, with a total value of $302,350.00. Following the completion of the transaction, the insider now owns 96,877 shares of the company’s stock, valued at approximately $5,858,152.19. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.34% of the company’s stock.
CDK Global Company 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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