Keybank National Association OH cut its holdings in CDK Global Inc (NASDAQ:CDK) by 11.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,373 shares of the software maker’s stock after selling 1,378 shares during the period. Keybank National Association OH’s holdings in CDK Global were worth $513,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of CDK Global by 0.8% in the 1st quarter. BlackRock Inc. now owns 13,681,883 shares of the software maker’s stock worth $804,766,000 after acquiring an additional 106,648 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in CDK Global by 8.5% in the 1st quarter. Wells Fargo & Company MN now owns 1,745,667 shares of the software maker’s stock worth $102,680,000 after acquiring an additional 136,759 shares during the period. Clarkston Capital Partners LLC boosted its holdings in CDK Global by 8.8% in the 2nd quarter. Clarkston Capital Partners LLC now owns 1,670,100 shares of the software maker’s stock worth $82,570,000 after acquiring an additional 135,110 shares during the period. Geode Capital Management LLC boosted its holdings in CDK Global by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 1,283,581 shares of the software maker’s stock worth $61,420,000 after acquiring an additional 14,834 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of CDK Global by 373.1% in the 1st quarter. JPMorgan Chase & Co. now owns 1,054,155 shares of the software maker’s stock valued at $62,005,000 after purchasing an additional 831,335 shares in the last quarter. 82.49% of the stock is owned by institutional investors and hedge funds.
CDK has been the topic of several research reports. Zacks Investment Research lowered CDK Global from a “hold” rating to a “strong sell” rating in a research report on Monday. ValuEngine raised CDK Global from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. BidaskClub lowered CDK Global from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. Finally, Barrington Research reaffirmed a “buy” rating and issued a $65.00 target price on shares of CDK Global in a research report on Monday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $64.00.
CDK Global (NASDAQ:CDK) last released its earnings results on Tuesday, August 13th. The software maker reported $0.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.02. CDK Global had a negative return on equity of 90.04% and a net margin of 5.55%. The company had revenue of $488.60 million during the quarter, compared to analysts’ expectations of $585.10 million. During the same period last year, the firm earned $0.87 EPS. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, equities research analysts forecast that CDK Global Inc will post 3.19 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.36%. The ex-dividend date is Friday, August 30th. CDK Global’s dividend payout ratio is currently 19.11%.
In related news, General Counsel Lee J. Brunz sold 1,000 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $50.74, for a total transaction of $50,740.00. Following the completion of the transaction, the general counsel now directly owns 37,927 shares of the company’s stock, valued at approximately $1,924,415.98. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 2,000 shares of company stock valued at $96,925. 0.50% of the stock is owned by corporate insiders.
About CDK Global
CDK Global, Inc provides software and technology solutions for automotive retailers in the United States and internationally. The company operates through Retail Solutions North America, Advertising North America, and CDK International segments. The company offers Dealer Management System (DMS), a portfolio of layered software applications and services for automotive retailers, original equipment manufacturers (OEMs), consumers, and other industry participants manage the acquisition, sale, financing, insuring, parts supply, and repair and maintenance of vehicles.
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