Baird Financial Group Inc. raised its position in shares of CDK Global Inc (NASDAQ:CDK) by 2.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,917 shares of the software maker’s stock after purchasing an additional 564 shares during the period. Baird Financial Group Inc.’s holdings in CDK Global were worth $1,043,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CDK. Parkside Financial Bank & Trust grew its stake in shares of CDK Global by 219.5% during the second quarter. Parkside Financial Bank & Trust now owns 671 shares of the software maker’s stock valued at $28,000 after buying an additional 461 shares during the last quarter. Aigen Investment Management LP bought a new position in shares of CDK Global during the first quarter valued at about $29,000. Twin Tree Management LP bought a new position in shares of CDK Global during the first quarter valued at about $58,000. Valeo Financial Advisors LLC grew its stake in shares of CDK Global by 210.2% during the second quarter. Valeo Financial Advisors LLC now owns 1,514 shares of the software maker’s stock valued at $63,000 after buying an additional 1,026 shares during the last quarter. Finally, Vigilant Capital Management LLC bought a new stake in shares of CDK Global in the second quarter worth about $68,000. Institutional investors and hedge funds own 82.74% of the company’s stock.
In related news, CAO Jennifer A. Williams sold 1,260 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $43.97, for a total value of $55,402.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders sold 1,982 shares of company stock valued at $88,757. 0.36% of the stock is owned by company insiders.
CDK stock opened at $45.29 on Wednesday. The firm has a 50 day moving average price of $45.88 and a 200-day moving average price of $40.76. CDK Global Inc has a 52-week low of $29.12 and a 52-week high of $57.00. The firm has a market capitalization of $5.40 billion, a price-to-earnings ratio of 26.80 and a beta of 1.35.
CDK Global (NASDAQ:CDK) last released its earnings results on Tuesday, August 4th. The software maker reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.16. CDK Global had a net margin of 10.59% and a negative return on equity of 59.65%. The firm had revenue of $449.60 million during the quarter, compared to analyst estimates of $424.40 million. During the same period last year, the business earned $0.88 earnings per share. The business’s revenue was down 8.0% on a year-over-year basis. Analysts forecast that CDK Global Inc will post 2.86 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be issued a $0.15 dividend. The ex-dividend date is Monday, August 31st. This represents a $0.60 dividend on an annualized basis and a yield of 1.32%. CDK Global’s payout ratio is currently 19.67%.
Several research firms recently issued reports on CDK. Wells Fargo & Company raised their target price on CDK Global from $50.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Morgan Stanley raised their target price on CDK Global from $55.00 to $57.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Zacks Investment Research raised CDK Global from a “sell” rating to a “hold” rating in a research note on Monday, August 10th. ValuEngine lowered shares of CDK Global from a “hold” rating to a “sell” rating in a report on Tuesday, September 1st. Finally, BidaskClub lowered shares of CDK Global from a “hold” rating to a “sell” rating in a report on Thursday, September 3rd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $57.75.
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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