CDK Global, Inc. (CDK) Shares Sold by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. trimmed its holdings in CDK Global, Inc. (NASDAQ:CDK) by 8.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 602,474 shares of the software maker’s stock after selling 58,562 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.44% of CDK Global worth $38,011,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of CDK. Russell Investments Group Ltd. lifted its stake in CDK Global by 20.2% during the second quarter. Russell Investments Group Ltd. now owns 24,876 shares of the software maker’s stock valued at $1,545,000 after buying an additional 4,183 shares in the last quarter. Strs Ohio lifted its stake in CDK Global by 52.5% during the second quarter. Strs Ohio now owns 12,933 shares of the software maker’s stock valued at $802,000 after buying an additional 4,455 shares in the last quarter. Great West Life Assurance Co. Can lifted its stake in CDK Global by 1.4% during the second quarter. Great West Life Assurance Co. Can now owns 147,843 shares of the software maker’s stock valued at $9,168,000 after buying an additional 1,985 shares in the last quarter. Rothschild Asset Management Inc. lifted its stake in CDK Global by 17.6% during the second quarter. Rothschild Asset Management Inc. now owns 7,305 shares of the software maker’s stock valued at $453,000 after buying an additional 1,093 shares in the last quarter. Finally, IFP Advisors Inc lifted its stake in CDK Global by 15.0% during the second quarter. IFP Advisors Inc now owns 4,469 shares of the software maker’s stock valued at $277,000 after buying an additional 583 shares in the last quarter. 86.76% of the stock is owned by institutional investors.
In other news, VP Jennifer A. Williams sold 1,984 shares of the company’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $62.58, for a total value of $124,158.72. Following the transaction, the vice president now owns 5,560 shares in the company, valued at approximately $347,944.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.39% of the stock is owned by corporate insiders.
CDK has been the subject of a number of analyst reports. BidaskClub raised shares of CDK Global from a “hold” rating to a “buy” rating in a research note on Saturday, August 19th. Zacks Investment Research upgraded CDK Global from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a report on Tuesday, October 3rd. TheStreet upgraded CDK Global from a “c+” rating to a “b-” rating in a report on Thursday, October 19th. Finally, Barrington Research set a $75.00 target price on CDK Global and gave the company a “buy” rating in a report on Tuesday, October 31st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $72.60.
CDK Global, Inc. (NASDAQ CDK) opened at $70.73 on Friday. The firm has a market capitalization of $9,620.78, a PE ratio of 27.76, a PEG ratio of 1.57 and a beta of 0.75. CDK Global, Inc. has a twelve month low of $58.43 and a twelve month high of $71.31. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 297.80.
CDK Global (NASDAQ:CDK) last issued its earnings results on Tuesday, October 31st. The software maker reported $0.68 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.68. The company 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 firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 EPS. sell-side analysts forecast that CDK Global, Inc. will post 2.97 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be issued a $0.15 dividend. This is an increase from CDK Global’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, November 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.85%. CDK Global’s dividend payout ratio is currently 29.13%.
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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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