Skylands Capital LLC cut its position in CDK Global Inc (NASDAQ:CDK) by 6.3% during the first quarter, Holdings Channel reports. The institutional investor owned 6,000 shares of the software maker’s stock after selling 400 shares during the period. Skylands Capital LLC’s holdings in CDK Global were worth $390,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. FineMark National Bank & Trust boosted its stake in shares of CDK Global by 180.7% in the third quarter. FineMark National Bank & Trust now owns 1,864 shares of the software maker’s stock valued at $107,000 after buying an additional 1,200 shares during the period. Woodmont Investment Counsel LLC purchased a new stake in shares of CDK Global during the third quarter valued at about $116,000. M&R Capital Management Inc. boosted its stake in shares of CDK Global by 2.1% in the fourth quarter. M&R Capital Management Inc. now owns 3,321 shares of the software maker’s stock valued at $198,000 after buying an additional 67 shares during the period. Group One Trading L.P. boosted its stake in shares of CDK Global by 658.8% in the fourth quarter. Group One Trading L.P. now owns 3,347 shares of the software maker’s stock valued at $200,000 after buying an additional 3,946 shares during the period. Finally, North American Management Corp purchased a new stake in shares of CDK Global during the first quarter valued at about $204,000. 82.92% of the stock is currently owned by institutional investors.
Shares of CDK Global Inc (NASDAQ:CDK) opened at 64.75 on Friday. CDK Global Inc has a 12-month low of $45.21 and a 12-month high of $67.49. The stock has a market cap of $9.39 billion, a price-to-earnings ratio of 36.73 and a beta of 0.72. The company’s 50-day moving average price is $65.34 and its 200 day moving average price is $60.95.
CDK Global (NASDAQ:CDK) last posted its earnings results on Thursday, February 2nd. The software maker reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.08. CDK Global had a return on equity of 83.46% and a net margin of 12.47%. The company had revenue of $547.80 million for the quarter, compared to the consensus estimate of $545.74 million. During the same quarter in the previous year, the business earned $0.43 earnings per share. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities analysts predict that CDK Global Inc will post $2.37 earnings per share for the current year.
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CDK has been the topic of several recent research reports. Zacks Investment Research cut CDK Global from a “buy” rating to a “hold” rating in a report on Tuesday, January 3rd. Morgan Stanley raised CDK Global from an “underweight” rating to an “equal weight” rating and set a $70.00 price objective on the stock in a report on Friday, February 3rd. Finally, TheStreet cut CDK Global from a “b-” rating to a “d+” rating in a report on Thursday, February 2nd.
In related news, Director Stephen A. Miles sold 9,197 shares of the business’s stock in a transaction on Friday, March 10th. The stock was sold at an average price of $66.47, for a total value of $611,324.59. Following the sale, the director now owns 30,707 shares in the company, valued at approximately $2,041,094.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is currently owned by insiders.
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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