Keybank National Association OH lessened its stake in CDK Global, Inc. (NASDAQ:CDK) by 13.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,584 shares of the software maker’s stock after selling 2,147 shares during the quarter. Keybank National Association OH’s holdings in CDK Global were worth $843,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of CDK. BlackRock Inc. raised its holdings in CDK Global by 5,907.6% during the 1st quarter. BlackRock Inc. now owns 13,196,582 shares of the software maker’s stock valued at $857,910,000 after acquiring an additional 12,976,917 shares during the period. Findlay Park Partners LLP bought a new stake in CDK Global during the 1st quarter valued at $50,383,000. AQR Capital Management LLC raised its holdings in CDK Global by 191.3% during the 1st quarter. AQR Capital Management LLC now owns 1,065,874 shares of the software maker’s stock valued at $69,292,000 after acquiring an additional 699,914 shares during the period. Morgan Stanley raised its holdings in CDK Global by 82.9% during the 1st quarter. Morgan Stanley now owns 1,383,037 shares of the software maker’s stock valued at $89,913,000 after acquiring an additional 627,062 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in CDK Global by 175.8% during the 1st quarter. Wells Fargo & Company MN now owns 787,979 shares of the software maker’s stock valued at $51,226,000 after acquiring an additional 502,276 shares during the period. 85.06% of the stock is currently owned by institutional investors.
Several research firms have recently weighed in on CDK. BidaskClub raised shares of CDK Global from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Wells Fargo & Company raised shares of CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 price target on the stock in a report on Wednesday, June 21st. TheStreet cut shares of CDK Global from a “c” rating to a “d+” rating in a report on Tuesday, August 1st. Zacks Investment Research raised shares of CDK Global from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, Evercore ISI raised shares of CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 price target on the stock in a report on Monday, July 10th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $71.75.
Shares of CDK Global, Inc. (NASDAQ:CDK) traded down 0.35% on Friday, reaching $60.65. 129,324 shares of the company traded hands. The stock has a 50-day moving average price of $62.76 and a 200 day moving average price of $63.43. CDK Global, Inc. has a 1-year low of $53.46 and a 1-year high of $67.49. The firm has a market capitalization of $8.50 billion, a P/E ratio of 30.48 and a beta of 0.75.
CDK Global (NASDAQ:CDK) last issued its quarterly earnings data on Tuesday, August 1st. The software maker reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. CDK Global had a net margin of 13.31% and a return on equity of 204.80%. The business had revenue of $565.40 million during the quarter, compared to analysts’ expectations of $556.68 million. During the same period last year, the company posted $0.49 EPS. The business’s revenue was up 4.3% on a year-over-year basis. Analysts anticipate that CDK Global, Inc. will post $2.95 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Monday, September 11th will be paid a dividend of $0.14 per share. The ex-dividend date is Friday, September 8th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.92%. CDK Global’s dividend payout ratio is presently 28.00%.
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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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