Beacon Investment Advisory Services Inc. acquired a new position in shares of CDK Global, Inc. (NASDAQ:CDK) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 128,003 shares of the software maker’s stock, valued at approximately $8,076,000. Beacon Investment Advisory Services Inc. owned about 0.09% of CDK Global as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the stock. Macquarie Group Ltd. purchased a new stake in shares of CDK Global in the third quarter worth approximately $145,000. 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 valued at $194,000 after acquiring an additional 167 shares during the last quarter. Pinnacle Financial Partners Inc. bought a new position in CDK Global during the second quarter valued at $198,000. TrimTabs Asset Management LLC grew its holdings in CDK Global by 105.0% during the second quarter. TrimTabs Asset Management LLC now owns 3,766 shares of the software maker’s stock valued at $234,000 after purchasing an additional 1,929 shares during the period. Finally, Associated Banc Corp grew its holdings in CDK Global by 4.7% during the second quarter. Associated Banc Corp now owns 3,965 shares of the software maker’s stock valued at $246,000 after purchasing an additional 179 shares during the period. Institutional investors and hedge funds own 87.45% of the company’s stock.
In other CDK Global news, VP Jennifer A. Williams sold 1,984 shares of CDK Global stock in a transaction that occurred 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 sale, the vice president now directly owns 5,560 shares of the company’s stock, valued at approximately $347,944.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.39% of the company’s stock.
Several brokerages have weighed in on CDK. BidaskClub lowered CDK Global from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Barrington Research set a $75.00 price target on CDK Global and gave the stock a “buy” rating in a report on Tuesday, October 31st. TheStreet raised CDK Global from a “c+” rating to a “b-” rating in a report on Thursday, October 19th. Finally, Zacks Investment Research raised CDK Global from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a report on Tuesday, October 3rd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. CDK Global presently has an average rating of “Buy” and an average price target of $72.60.
CDK Global, Inc. (NASDAQ:CDK) traded down $0.62 during midday trading on Tuesday, reaching $70.66. The company’s stock had a trading volume of 1,026,083 shares, compared to its average volume of 867,450. The stock has a market capitalization of $9,800.00, a P/E ratio of 34.30, a price-to-earnings-growth ratio of 1.60 and a beta of 0.78. 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, Inc. has a twelve month low of $58.52 and a twelve month high of $72.25.
CDK Global (NASDAQ:CDK) last released its quarterly earnings data on Tuesday, October 31st. The software maker reported $0.68 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate 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 quarter in the previous year, the business earned $0.60 earnings per share. analysts expect that CDK Global, Inc. will post 2.97 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 1st were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.85%. This is a boost from CDK Global’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Thursday, November 30th. CDK Global’s payout ratio is presently 29.13%.
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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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