Boxwood Ventures Inc. Acquires Shares of 13,560 CDK Global, Inc. (NASDAQ:CDK)

Boxwood Ventures Inc. purchased a new position in CDK Global, Inc. (NASDAQ:CDK – Get Rating) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,560 shares of the software maker’s stock, valued at approximately $660,000. CDK Global comprises 1.4% of Boxwood Ventures Inc.’s investment portfolio, making the stock its 15th largest position.

A number of other hedge funds have also recently made changes to their positions in CDK. National Bank of Canada FI bought a new position in shares of CDK Global in the fourth quarter worth about $55,000. Yousif Capital Management LLC bought a new position in shares of CDK Global in the fourth quarter worth about $2,666,000. CWM LLC bought a new position in shares of CDK Global in the fourth quarter worth about $51,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in CDK Global by 21.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,732 shares of the software maker’s stock worth $615,000 after acquiring an additional 2,630 shares during the period. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in CDK Global in the fourth quarter worth about $29,000. 92.85% of the stock is currently owned by institutional investors.

CDK Global Price Performance

Shares of CDK Global stock remained flat at $54.76 during midday trading on Friday. 4,094 shares of the company traded hands, compared to its average volume of 1,737,769. The stock has a market capitalization of $6.39 billion, a PE ratio of 26.20 and a beta of 0.95. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 3.98. The business has a 50-day moving average price of $54.66 and a two-hundred day moving average price of $50.90. CDK Global, Inc. has a 52-week low of $38.53 and a 52-week high of $55.12.

CDK Global (NASDAQ:CDK – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The software maker reported $0.67 EPS for the quarter, beating the consensus estimate of $0.64 by $0.03. The firm had revenue of $459.70 million during the quarter, compared to analyst estimates of $457.88 million. CDK Global had a net margin of 14.28% and a return on equity of 67.84%. CDK Global’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm posted $0.69 EPS. As a group, analysts expect that CDK Global, Inc. will post 2.53 EPS for the current year.

CDK Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 29th. Investors of record on Monday, June 20th were issued a $0.15 dividend. The ex-dividend date was Thursday, June 16th. This represents a $0.60 annualized dividend and a yield of 1.10%. CDK Global’s dividend payout ratio (DPR) is presently 28.71%.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of CDK Global in a research note on Monday, August 1st. They issued a “hold” rating for the company.

CDK Global Company Profile

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CDK Global, Inc, together with its subsidiaries, provides integrated data and technology solutions to the automotive, heavy truck, recreation, and heavy equipment industries in the United States and internationally. It offers subscription-based software and technology solutions to automotive retailers, as well as to retailers and manufacturers of heavy trucks, construction and agricultural equipment, motorcycles, boats, and other marine and recreational vehicles.