Fayez Sarofim & Co. Has $6.53 Million Holdings in CDK Global, Inc. (CDK)
Fayez Sarofim & Co. trimmed its stake in CDK Global, Inc. (NASDAQ:CDK) by 2.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 103,552 shares of the software maker’s stock after selling 2,671 shares during the quarter. Fayez Sarofim & Co. owned 0.08% of CDK Global worth $6,532,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Alpha Windward LLC boosted its holdings in 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 acquiring an additional 36 shares in the last quarter. Macquarie Group Ltd. bought a new stake in CDK Global in the third quarter worth $145,000. D.A. Davidson & CO. boosted its holdings in CDK Global by 5.6% in the second quarter. D.A. Davidson & CO. now owns 3,130 shares of the software maker’s stock worth $194,000 after acquiring an additional 167 shares in the last quarter. Pinnacle Financial Partners Inc. bought a new stake in CDK Global in the second quarter worth $198,000. Finally, TrimTabs Asset Management LLC boosted its holdings in CDK Global by 105.0% in the second quarter. TrimTabs Asset Management LLC now owns 3,766 shares of the software maker’s stock worth $234,000 after acquiring an additional 1,929 shares in the last quarter. 83.96% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Jennifer A. Williams sold 1,984 shares of the company’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $62.58, for a total transaction of $124,158.72. Following the transaction, the vice president now directly owns 5,560 shares of the company’s stock, valued at $347,944.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.39% of the company’s stock.
Several equities research analysts have commented on the company. Barrington Research set a $75.00 target price on CDK Global and gave the stock a “buy” rating in a report on Tuesday, October 31st. BidaskClub raised CDK Global from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. TheStreet raised CDK Global from a “c+” rating to a “b-” rating in a report on Thursday, October 19th. Finally, Zacks Investment Research downgraded CDK Global from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $72.60.
Shares of CDK Global, Inc. (CDK) traded up $0.53 during trading hours on Friday, hitting $66.93. The stock had a trading volume of 756,733 shares, compared to its average volume of 952,009. The company has a market capitalization of $9,205.42, a P/E ratio of 26.56, a P/E/G ratio of 1.51 and a beta of 0.72. The company has a debt-to-equity ratio of 297.80, a quick ratio of 2.37 and a current ratio of 2.37. CDK Global, Inc. has a 1 year low of $56.50 and a 1 year high of $67.49.
CDK Global (NASDAQ:CDK) last announced its quarterly earnings results on Tuesday, October 31st. The software maker reported $0.68 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.68. The firm had revenue of $565.70 million for the quarter, compared to the consensus estimate of $569.28 million. CDK Global had a return on equity of 515.77% and a net margin of 13.42%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 earnings per share. sell-side analysts expect that CDK Global, Inc. will post 2.96 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.15 per share. This is an increase from CDK Global’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Thursday, November 30th. CDK Global’s dividend payout ratio is presently 27.18%.
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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