CDK Global Inc (NASDAQ:CDK) CAO Jennifer A. Williams Sells 1,260 Shares

CDK Global Inc (NASDAQ:CDK) CAO Jennifer A. Williams sold 1,260 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $43.97, for a total transaction of $55,402.20. Following the completion of the sale, the chief accounting officer now owns 6,676 shares in the company, valued at approximately $293,543.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of CDK Global stock traded down $0.30 on Wednesday, hitting $44.99. 388 shares of the company’s stock were exchanged, compared to its average volume of 526,510. The company has a 50-day simple moving average of $45.88 and a 200-day simple moving average of $40.76. The stock has a market capitalization of $5.50 billion, a PE ratio of 26.80 and a beta of 1.35. CDK Global Inc has a 1 year low of $29.12 and a 1 year high of $57.00.

CDK Global (NASDAQ:CDK) last issued its quarterly earnings results on Tuesday, August 4th. The software maker reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.16. The business had revenue of $449.60 million for the quarter, compared to analysts’ expectations of $424.40 million. CDK Global had a net margin of 10.59% and a negative return on equity of 59.65%. The company’s revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.88 EPS. Equities research analysts predict that CDK Global Inc will post 2.86 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.60 annualized dividend and a dividend yield of 1.33%. CDK Global’s payout ratio is 19.67%.

CDK has been the topic of several research reports. Morgan Stanley raised their target price on shares of CDK Global from $55.00 to $57.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Wells Fargo & Company raised their target price on shares of CDK Global from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. ValuEngine cut shares of CDK Global from a “hold” rating to a “sell” rating in a report on Tuesday, September 1st. BidaskClub cut shares of CDK Global from a “hold” rating to a “sell” rating in a report on Thursday, September 3rd. Finally, Zacks Investment Research upgraded shares of CDK Global from a “sell” rating to a “hold” rating in a research note on Monday, August 10th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $57.75.

Several hedge funds have recently made changes to their positions in CDK. Capital International Investors raised its position in shares of CDK Global by 31.2% during the 1st quarter. Capital International Investors now owns 5,780,844 shares of the software maker’s stock valued at $189,901,000 after purchasing an additional 1,374,836 shares during the period. International Value Advisers LLC increased its holdings in CDK Global by 76.2% in the 1st quarter. International Value Advisers LLC now owns 1,772,853 shares of the software maker’s stock valued at $58,238,000 after acquiring an additional 766,636 shares during the last quarter. Clarkston Capital Partners LLC increased its holdings in CDK Global by 15.1% in the 2nd quarter. Clarkston Capital Partners LLC now owns 5,034,467 shares of the software maker’s stock valued at $208,528,000 after acquiring an additional 660,374 shares during the last quarter. Makaira Partners LLC bought a new stake in CDK Global in the 1st quarter valued at $18,147,000. Finally, AQR Capital Management LLC increased its holdings in CDK Global by 69.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,263,537 shares of the software maker’s stock valued at $51,578,000 after acquiring an additional 517,487 shares during the last quarter. Hedge funds and other institutional investors own 82.74% 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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