Crossmark Global Holdings Inc. decreased its stake in shares of CDK Global Inc (NASDAQ:CDK) by 2.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 12,137 shares of the software maker’s stock after selling 300 shares during the period. Crossmark Global Holdings Inc.’s holdings in CDK Global were worth $714,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in CDK. Whittier Trust Co. lifted its holdings in shares of CDK Global by 3.1% in the 4th quarter. Whittier Trust Co. now owns 6,326 shares of the software maker’s stock worth $303,000 after purchasing an additional 192 shares in the last quarter. Aurora Investment Counsel lifted its holdings in shares of CDK Global by 0.6% in the 1st quarter. Aurora Investment Counsel now owns 35,186 shares of the software maker’s stock worth $2,070,000 after purchasing an additional 206 shares in the last quarter. Cardinal Capital Management lifted its holdings in shares of CDK Global by 1.2% in the 1st quarter. Cardinal Capital Management now owns 18,524 shares of the software maker’s stock worth $1,089,000 after purchasing an additional 213 shares in the last quarter. Financial Advocates Investment Management lifted its holdings in shares of CDK Global by 27.6% in the 4th quarter. Financial Advocates Investment Management now owns 1,045 shares of the software maker’s stock worth $183,000 after purchasing an additional 226 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in shares of CDK Global by 24.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,442 shares of the software maker’s stock worth $69,000 after purchasing an additional 282 shares in the last quarter. 84.46% of the stock is owned by institutional investors.
Shares of CDK opened at $50.73 on Thursday. CDK Global Inc has a 12-month low of $44.01 and a 12-month high of $67.97. The firm has a market capitalization of $6.23 billion, a P/E ratio of 16.69 and a beta of 0.71.
CDK Global (NASDAQ:CDK) last issued its quarterly earnings data on Tuesday, April 30th. The software maker reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.08. CDK Global had a negative return on equity of 113.53% and a net margin of 16.34%. The business had revenue of $602.10 million for the quarter, compared to analysts’ expectations of $596.47 million. During the same period last year, the business earned $0.85 EPS. On average, analysts predict that CDK Global Inc will post 3.63 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.18%. The ex-dividend date is Friday, May 31st. CDK Global’s dividend payout ratio (DPR) is presently 19.74%.
A number of brokerages recently issued reports on CDK. Oppenheimer set a $67.00 target price on CDK Global and gave the stock a “buy” rating in a report on Tuesday, February 5th. BidaskClub cut CDK Global from a “hold” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research upgraded CDK Global from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a report on Friday, May 3rd. ValuEngine cut CDK Global from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Finally, Barrington Research reiterated a “buy” rating on shares of CDK Global in a report on Monday, April 29th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $67.75.
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CDK Global Profile
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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