Palisade Asset Management LLC cut its holdings in CDK Global Inc (NASDAQ:CDK) by 12.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,448 shares of the software maker’s stock after selling 884 shares during the period. Palisade Asset Management LLC’s holdings in CDK Global were worth $403,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. WealthTrust Fairport LLC bought a new position in CDK Global in the 1st quarter worth approximately $105,000. Qube Research & Technologies Ltd purchased a new stake in CDK Global in the 2nd quarter worth approximately $109,000. Fort L.P. purchased a new stake in CDK Global in the 2nd quarter worth approximately $121,000. Legacy Financial Advisors Inc. lifted its stake in CDK Global by 91.0% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 1,899 shares of the software maker’s stock worth $128,000 after purchasing an additional 905 shares in the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new stake in CDK Global in the 2nd quarter worth approximately $170,000. 82.15% of the stock is owned by institutional investors.
NASDAQ CDK traded down $0.43 on Friday, hitting $57.29. The stock had a trading volume of 90,957 shares, compared to its average volume of 971,747. CDK Global Inc has a 52-week low of $55.75 and a 52-week high of $76.04. The company has a debt-to-equity ratio of -7.42, a current ratio of 2.49 and a quick ratio of 2.49. The stock has a market capitalization of $7.50 billion, a PE ratio of 19.11, a P/E/G ratio of 1.57 and a beta of 0.68.
CDK Global (NASDAQ:CDK) last posted its earnings results on Tuesday, August 14th. The software maker reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.07. The business had revenue of $569.20 million for the quarter, compared to analysts’ expectations of $578.99 million. CDK Global had a net margin of 16.75% and a negative return on equity of 235.59%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.55 EPS. On average, research analysts anticipate that CDK Global Inc will post 3.72 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Tuesday, September 4th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Friday, August 31st. CDK Global’s dividend payout ratio (DPR) is currently 19.74%.
CDK has been the topic of several recent analyst reports. Barrington Research reiterated a “buy” rating and issued a $80.00 target price on shares of CDK Global in a research note on Monday, August 13th. Morgan Stanley lowered their target price on shares of CDK Global from $75.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 15th. Zacks Investment Research upgraded shares of CDK Global from a “sell” rating to a “hold” rating in a research note on Tuesday. ValuEngine upgraded shares of CDK Global from a “sell” rating to a “hold” rating in a research note on Monday, August 13th. Finally, BidaskClub upgraded shares of CDK Global from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 15th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $75.00.
In other news, VP Jennifer A. Williams sold 4,114 shares of the firm’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $61.65, for a total transaction of $253,628.10. Following the sale, the vice president now owns 5,012 shares in the company, valued at approximately $308,989.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.50% of the company’s stock.
About CDK Global
CDK Global, Inc provides software and technology solutions for automotive retailers in the United States and internationally. The company operates through Retail Solutions North America, Advertising North America, and CDK International segments. The company offers Dealer Management System (DMS), a portfolio of layered software applications and services for automotive retailers, original equipment manufacturers (OEMs), consumers, and other industry participants manage the acquisition, sale, financing, insuring, parts supply, and repair and maintenance of vehicles.
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