Stifel Financial Corp reduced its stake in shares of CDK Global Inc (NASDAQ:CDK) by 13.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,926 shares of the software maker’s stock after selling 4,906 shares during the period. Stifel Financial Corp’s holdings in CDK Global were worth $2,012,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of CDK. Russell Investments Group Ltd. grew its stake in CDK Global by 20.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 24,876 shares of the software maker’s stock worth $1,545,000 after acquiring an additional 4,183 shares during the period. Schwab Charles Investment Management Inc. grew its stake in shares of CDK Global by 12.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 661,036 shares of the software maker’s stock valued at $41,024,000 after buying an additional 74,017 shares during the period. Advisors Asset Management Inc. grew its stake in shares of CDK Global by 0.9% during the 2nd quarter. Advisors Asset Management Inc. now owns 14,835 shares of the software maker’s stock valued at $921,000 after buying an additional 129 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of CDK Global by 40.4% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 59,058 shares of the software maker’s stock valued at $3,665,000 after buying an additional 17,000 shares during the period. Finally, Alps Advisors Inc. boosted its position in CDK Global by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 7,214 shares of the software maker’s stock worth $448,000 after purchasing an additional 19 shares during the period. Hedge funds and other institutional investors own 87.50% of the company’s stock.
In other news, VP Jennifer A. Williams sold 1,984 shares of the stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $62.58, for a total value of $124,158.72. Following the completion of the transaction, the vice president now directly owns 5,560 shares in the company, valued at $347,944.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.39% of the company’s stock.
A number of analysts recently weighed in on CDK shares. Zacks Investment Research cut shares of CDK Global from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. BidaskClub upgraded shares of CDK Global from a “hold” rating to a “buy” rating in a report on Wednesday, October 11th. TheStreet upgraded shares of CDK Global from a “c+” rating to a “b-” rating in a report on Thursday, October 19th. Finally, Barrington Research set a $75.00 price objective on shares of CDK Global and gave the stock a “buy” rating in a report on Tuesday, October 31st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $72.60.
CDK Global Inc (NASDAQ CDK) traded up $1.76 on Friday, reaching $75.77. 1,995,527 shares of the company traded hands, compared to its average volume of 1,120,000. CDK Global Inc has a 52-week low of $59.33 and a 52-week high of $75.83. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 297.80. The firm has a market capitalization of $10,420.00, a price-to-earnings ratio of 36.78, a price-to-earnings-growth ratio of 1.66 and a beta of 0.78.
CDK Global (NASDAQ:CDK) last posted its earnings results on Tuesday, October 31st. The software maker reported $0.68 EPS for the quarter, hitting the consensus estimate of $0.68. The firm had revenue of $565.70 million during the quarter, compared to analysts’ expectations of $569.28 million. CDK Global had a net margin of 13.42% and a return on equity of 515.77%. CDK Global’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 EPS. equities analysts anticipate that CDK Global Inc will post 2.97 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 1st were issued a $0.15 dividend. The ex-dividend date was Thursday, November 30th. This is a boost from CDK Global’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a dividend yield of 0.79%. CDK Global’s dividend payout ratio (DPR) is 29.13%.
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CDK Global 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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