CDK Global Inc (NASDAQ:CDK) General Counsel Lee J. Brunz sold 1,000 shares of CDK Global stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $56.23, for a total transaction of $56,230.00. Following the completion of the transaction, the general counsel now directly owns 40,569 shares of the company’s stock, valued at $2,281,194.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of NASDAQ CDK traded down $0.06 during midday trading on Wednesday, hitting $56.16. The company’s stock had a trading volume of 607,830 shares, compared to its average volume of 650,793. CDK Global Inc has a 1-year low of $41.50 and a 1-year high of $63.90. The firm’s fifty day moving average price is $54.72 and its 200-day moving average price is $50.10. The firm has a market cap of $6.75 billion, a P/E ratio of 17.89, a P/E/G ratio of 1.65 and a beta of 0.92.
CDK Global (NASDAQ:CDK) last posted its quarterly earnings results on Tuesday, November 5th. The software maker reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.10. CDK Global had a net margin of 5.32% and a negative return on equity of 72.27%. The business had revenue of $494.60 million during the quarter, compared to analyst estimates of $485.00 million. During the same period in the previous year, the business posted $0.89 EPS. The company’s quarterly revenue was up 10.8% on a year-over-year basis. On average, equities research analysts forecast that CDK Global Inc will post 3.22 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 2nd were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Friday, November 29th. CDK Global’s dividend payout ratio (DPR) is presently 19.11%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. AE Wealth Management LLC lifted its position in CDK Global by 14.9% in the 4th quarter. AE Wealth Management LLC now owns 18,450 shares of the software maker’s stock valued at $1,009,000 after purchasing an additional 2,396 shares during the last quarter. CenturyLink Investment Management Co lifted its position in CDK Global by 9.5% in the 4th quarter. CenturyLink Investment Management Co now owns 20,950 shares of the software maker’s stock valued at $1,146,000 after purchasing an additional 1,817 shares during the last quarter. Allred Capital Management LLC bought a new stake in CDK Global in the 4th quarter valued at about $111,000. Boston Trust Walden Corp raised its position in shares of CDK Global by 1.8% during the 4th quarter. Boston Trust Walden Corp now owns 317,505 shares of the software maker’s stock worth $17,361,000 after buying an additional 5,538 shares in the last quarter. Finally, Baxter Bros Inc. bought a new stake in shares of CDK Global during the 4th quarter worth about $253,000. 81.63% of the stock is owned by institutional investors and hedge funds.
CDK has been the subject of several research reports. BidaskClub lowered shares of CDK Global from a “strong-buy” rating to a “buy” rating in a report on Friday, December 27th. Morgan Stanley initiated coverage on shares of CDK Global in a report on Thursday, December 5th. They issued an “equal weight” rating and a $57.00 price target for the company. Zacks Investment Research raised shares of CDK Global from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a report on Tuesday, January 7th. Wells Fargo & Co raised shares of CDK Global from an “equal weight” rating to an “overweight” rating and set a $65.00 price target for the company in a report on Thursday, January 9th. Finally, ValuEngine raised shares of CDK Global from a “sell” rating to a “hold” rating in a report on Tuesday, December 31st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $63.20.
CDK Global Company Profile
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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