CDK Global, Inc. (CDK) Shares Sold by HL Financial Services LLC
HL Financial Services LLC cut its position in shares of CDK Global, Inc. (NASDAQ:CDK) by 1.6% during the second quarter, Holdings Channel reports. The firm owned 12,522 shares of the software maker’s stock after selling 199 shares during the period. HL Financial Services LLC’s holdings in CDK Global were worth $777,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the stock. Alpha Windward LLC increased its position in shares of CDK Global by 2.3% in the second quarter. Alpha Windward LLC now owns 1,618 shares of the software maker’s stock worth $100,000 after buying an additional 36 shares during the period. TrimTabs Asset Management LLC increased its position in shares of CDK Global by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 1,837 shares of the software maker’s stock worth $119,000 after buying an additional 864 shares during the period. Bronfman E.L. Rothschild L.P. increased its position in shares of CDK Global by 1.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,979 shares of the software maker’s stock worth $129,000 after buying an additional 23 shares during the period. Acrospire Investment Management LLC increased its position in shares of CDK Global by 17.6% in the first quarter. Acrospire Investment Management LLC now owns 2,000 shares of the software maker’s stock worth $130,000 after buying an additional 300 shares during the period. Finally, Pinnacle Bank acquired a new position in shares of CDK Global during the first quarter worth about $137,000. 83.30% of the stock is owned by hedge funds and other institutional investors.
Shares of CDK Global, Inc. (NASDAQ CDK) opened at 61.29 on Friday. The firm has a 50-day moving average price of $63.22 and a 200-day moving average price of $63.72. The stock has a market cap of $8.59 billion, a PE ratio of 30.80 and a beta of 0.74. CDK Global, Inc. has a 52 week low of $53.46 and a 52 week high of $67.49.
CDK Global (NASDAQ:CDK) last issued its earnings results on Tuesday, August 1st. The software maker reported $0.55 EPS for the quarter, topping the consensus estimate of $0.54 by $0.01. The company had revenue of $565.40 million during the quarter, compared to analyst estimates of $556.68 million. CDK Global had a return on equity of 204.80% and a net margin of 13.31%. The business’s revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.49 EPS. On average, analysts forecast that CDK Global, Inc. will post $2.95 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 11th will be given a $0.14 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.56 annualized dividend and a dividend yield of 0.91%. CDK Global’s payout ratio is 28.00%.
CDK has been the subject of a number of research analyst reports. BidaskClub raised CDK Global from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research raised CDK Global from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a report on Thursday, May 4th. TheStreet raised CDK Global from a “d+” rating to a “c” rating in a report on Monday, May 8th. Wells Fargo & Company raised CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 price target for the company in a report on Wednesday, June 21st. Finally, Evercore ISI raised CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 price target for the company in a report on Monday, July 10th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. CDK Global presently has an average rating of “Hold” and an average price target of $71.75.
In other news, insider Brian P. Macdonald bought 5,000 shares of the firm’s stock in a transaction dated Friday, May 26th. The stock was bought at an average price of $60.47 per share, for a total transaction of $302,350.00. Following the transaction, the insider now owns 96,877 shares in the company, valued at $5,858,152.19. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.34% of the stock is currently owned by company insiders.
About CDK Global
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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