Huntington National Bank decreased its position in CDK Global, Inc. (NASDAQ:CDK) by 7.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,555 shares of the software maker’s stock after selling 1,725 shares during the period. Huntington National Bank’s holdings in CDK Global were worth $1,276,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of CDK Global by 5,907.6% in the first quarter. BlackRock Inc. now owns 13,196,582 shares of the software maker’s stock valued at $857,910,000 after buying an additional 12,976,917 shares in the last quarter. Findlay Park Partners LLP acquired a new position in shares of CDK Global during the first quarter valued at $50,383,000. AQR Capital Management LLC raised its position in shares of CDK Global by 191.3% in the first quarter. AQR Capital Management LLC now owns 1,065,874 shares of the software maker’s stock valued at $69,292,000 after buying an additional 699,914 shares in the last quarter. Morgan Stanley raised its position in shares of CDK Global by 82.9% in the first quarter. Morgan Stanley now owns 1,383,037 shares of the software maker’s stock valued at $89,913,000 after buying an additional 627,062 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of CDK Global by 175.8% in the first quarter. Wells Fargo & Company MN now owns 787,979 shares of the software maker’s stock valued at $51,226,000 after buying an additional 502,276 shares in the last quarter. Institutional investors own 84.01% of the company’s stock.
CDK Global, Inc. (NASDAQ CDK) opened at 66.38 on Wednesday. The firm has a market capitalization of $9.64 billion, a price-to-earnings ratio of 33.95 and a beta of 0.73. CDK Global, Inc. has a one year low of $53.46 and a one year high of $67.49. The company has a 50-day moving average of $62.52 and a 200 day moving average of $63.46.
CDK Global (NASDAQ:CDK) last posted its earnings results on Tuesday, May 2nd. The software maker reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.08. CDK Global had a net margin of 13.44% and a return on equity of 126.04%. The firm had revenue of $556.30 million for the quarter, compared to analyst estimates of $556.98 million. During the same period in the previous year, the firm posted $0.42 EPS. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, analysts anticipate that CDK Global, Inc. will post $2.43 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Tuesday, June 20th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date was Friday, June 16th. CDK Global’s payout ratio is 28.57%.
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CDK has been the topic of several analyst reports. BidaskClub upgraded shares of CDK Global from a “hold” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research upgraded shares of CDK Global from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Thursday, May 4th. Wells Fargo & Company upgraded shares of CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a report on Wednesday, June 21st. Evercore ISI upgraded shares of CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 price objective on the stock in a report on Monday, July 10th. Finally, TheStreet upgraded shares of CDK Global from a “d+” rating to a “c” rating in a report on Monday, May 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. CDK Global presently has a consensus rating of “Hold” and a consensus target price of $71.75.
In other CDK Global news, insider Brian P. Macdonald bought 5,000 shares of CDK Global stock in a transaction on Friday, May 26th. The shares were purchased at an average cost of $60.47 per share, with a total value of $302,350.00. Following the acquisition, the insider now directly owns 96,877 shares of the company’s stock, valued at approximately $5,858,152.19. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.34% of the company’s stock.
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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