CDK Global, Inc. (CDK) Stake Decreased by Segment Wealth Management LLC
Segment Wealth Management LLC cut its position in shares of CDK Global, Inc. (NASDAQ:CDK) by 1.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,235 shares of the software maker’s stock after selling 95 shares during the quarter. Segment Wealth Management LLC’s holdings in CDK Global were worth $387,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. D.A. Davidson & CO. increased its position in shares of CDK Global by 5.6% during the second quarter. D.A. Davidson & CO. now owns 3,130 shares of the software maker’s stock worth $194,000 after buying an additional 167 shares during the period. GSA Capital Partners LLP increased its position in shares of CDK Global by 34.6% during the second quarter. GSA Capital Partners LLP now owns 34,701 shares of the software maker’s stock worth $2,154,000 after buying an additional 8,917 shares during the period. Menta Capital LLC acquired a new stake in shares of CDK Global during the second quarter worth $479,000. UBS Asset Management Americas Inc. increased its position in shares of CDK Global by 58.1% during the second quarter. UBS Asset Management Americas Inc. now owns 793,668 shares of the software maker’s stock worth $49,255,000 after buying an additional 291,648 shares during the period. Finally, Quantitative Investment Management LLC acquired a new stake in shares of CDK Global during the second quarter worth $3,338,000. Institutional investors own 85.01% of the company’s stock.
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Shares of CDK Global, Inc. (NASDAQ CDK) remained flat at $62.07 on Thursday. The company’s stock had a trading volume of 1,466,630 shares. CDK Global, Inc. has a 52 week low of $53.46 and a 52 week high of $67.49. The company has a market capitalization of $8.70 billion, a PE ratio of 31.19 and a beta of 0.75. The firm has a 50 day moving average price of $62.40 and a 200 day moving average price of $63.27.
CDK Global (NASDAQ:CDK) last announced its quarterly earnings results on Tuesday, August 1st. The software maker reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.01. The company had revenue of $565.40 million for the quarter, compared to analysts’ expectations of $556.68 million. CDK Global had a net margin of 13.31% and a return on equity of 204.80%. CDK Global’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.49 EPS. Equities analysts predict that CDK Global, Inc. will post $2.95 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Monday, September 11th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Friday, September 8th. CDK Global’s payout ratio is 28.00%.
CDK has been the subject of several recent analyst reports. BidaskClub upgraded shares of CDK Global from a “hold” rating to a “buy” rating in a research report on Saturday, August 19th. TheStreet cut shares of CDK Global from a “c” rating to a “d+” rating in a research report on Tuesday, August 1st. Zacks Investment Research raised shares of CDK Global from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Wells Fargo & Company raised shares of CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a research note on Wednesday, June 21st. Finally, Evercore ISI raised shares of CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 target price on the stock in a research note on Monday, July 10th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. CDK Global has an average rating of “Hold” and an average target price of $71.75.
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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