CDK Global, Inc. (CDK) Holdings Cut by Wells Fargo & Company MN
Wells Fargo & Company MN lowered its stake in shares of CDK Global, Inc. (NASDAQ:CDK) by 7.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 725,452 shares of the software maker’s stock after selling 62,527 shares during the period. Wells Fargo & Company MN owned approximately 0.51% of CDK Global worth $45,021,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Alpha Windward LLC raised its position in CDK Global by 2.3% in the 2nd quarter. Alpha Windward LLC now owns 1,618 shares of the software maker’s stock valued at $100,000 after buying an additional 36 shares during the last quarter. TrimTabs Asset Management LLC raised its position in CDK Global by 88.8% in the 1st quarter. TrimTabs Asset Management LLC now owns 1,837 shares of the software maker’s stock valued at $119,000 after buying an additional 864 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its position in CDK Global by 1.2% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 1,979 shares of the software maker’s stock valued at $129,000 after buying an additional 23 shares during the last quarter. Penserra Capital Management LLC raised its position in CDK Global by 9.5% in the 1st quarter. Penserra Capital Management LLC now owns 2,622 shares of the software maker’s stock valued at $170,000 after buying an additional 228 shares during the last quarter. Finally, Spinnaker Trust acquired a new stake in CDK Global in the 1st quarter valued at approximately $205,000. Hedge funds and other institutional investors own 85.01% of the company’s stock.
CDK Global, Inc. (NASDAQ CDK) opened at 62.13 on Tuesday. The company has a market capitalization of $8.71 billion, a P/E ratio of 31.22 and a beta of 0.75. CDK Global, Inc. has a 52 week low of $53.46 and a 52 week high of $67.49. The stock’s 50 day moving average price is $62.52 and its 200 day moving average price is $63.31.
CDK Global (NASDAQ:CDK) last announced its quarterly earnings data on Tuesday, August 1st. The software maker reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.01. CDK Global had a return on equity of 204.80% and a net margin of 13.31%. The business had revenue of $565.40 million during the quarter, compared to analyst estimates of $556.68 million. During the same period in the prior year, the company earned $0.49 earnings per share. CDK Global’s revenue was up 4.3% compared to the same quarter last year. Analysts anticipate that CDK Global, Inc. will post $2.95 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Monday, September 11th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.90%. The ex-dividend date is Friday, September 8th. CDK Global’s dividend payout ratio (DPR) is 28.00%.
A number of equities research analysts recently issued reports on the company. BidaskClub raised CDK Global from a “hold” rating to a “buy” rating in a research report on Saturday, August 19th. Zacks Investment Research downgraded CDK Global from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Evercore ISI upgraded CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 price target for the company in a research note on Monday, July 10th. Wells Fargo & Company upgraded CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 price target for the company in a research note on Wednesday, June 21st. Finally, TheStreet downgraded CDK Global from a “c” rating to a “d+” rating in a research note on Tuesday, August 1st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. CDK Global has an average rating of “Hold” and a consensus price target of $71.75.
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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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