BlackRock Advisors LLC raised its position in shares of CDK Global Inc. (NASDAQ:CDK) by 3.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 184,725 shares of the company’s stock after buying an additional 5,919 shares during the period. BlackRock Advisors LLC owned about 0.12% of CDK Global worth $10,251,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the stock. M&R Capital Management Inc. purchased a new position in shares of CDK Global during the second quarter worth about $182,000. Strs Ohio boosted its position in shares of CDK Global by 21.7% in the second quarter. Strs Ohio now owns 3,394 shares of the company’s stock worth $188,000 after buying an additional 606 shares during the last quarter. Stewart & Patten Co. LLC purchased a new position in shares of CDK Global during the second quarter worth about $204,000. FirstMerit Bank N A Trustee purchased a new position in shares of CDK Global during the second quarter worth about $209,000. Finally, Papp L Roy & Associates purchased a new position in shares of CDK Global during the second quarter worth about $215,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.
CDK Global Inc. (NASDAQ:CDK) opened at 56.14 on Friday. CDK Global Inc. has a 12 month low of $39.67 and a 12 month high of $60.09. The firm has a 50-day moving average price of $57.40 and a 200-day moving average price of $54.24. The stock has a market cap of $8.43 billion, a price-to-earnings ratio of 37.18 and a beta of 0.65.
CDK Global (NASDAQ:CDK) last released its earnings results on Wednesday, August 3rd. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. CDK Global had a return on equity of 45.25% and a net margin of 11.32%. The business had revenue of $542.20 million for the quarter, compared to analyst estimates of $533.84 million. During the same quarter last year, the firm posted $0.28 earnings per share. The business’s revenue was up 7.8% compared to the same quarter last year. Equities research analysts expect that CDK Global Inc. will post $2.32 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were paid a dividend of $0.135 per share. The ex-dividend date was Wednesday, September 14th. This represents a $0.54 annualized dividend and a dividend yield of 0.96%. CDK Global’s dividend payout ratio is currently 35.76%.
Separately, Zacks Investment Research cut shares of CDK Global from a “buy” rating to a “hold” rating in a research note on Friday, August 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $55.75.
About CDK Global
CDK Global, Inc is a provider of integrated information technology and digital marketing/advertising solutions to the automotive retail industry. The Company’s segments are Automotive Retail North America (ARNA), Automotive Retail International (ARI) and Digital Marketing (DM). The Company’s solutions automate workflow processes from pre-sale targeted advertising and marketing campaigns to the sale, financing, insurance, parts supply, and repair and maintenance of vehicles.
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