Cardinal Capital Management increased its position in shares of CDK Global Inc. (NASDAQ:CDK) by 0.2% during the second quarter, Holdings Channel reports. The firm owned 16,680 shares of the company’s stock after buying an additional 26 shares during the period. Cardinal Capital Management’s holdings in CDK Global were worth $926,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. Strs Ohio boosted its stake in CDK Global by 21.7% in the second quarter. Strs Ohio now owns 3,394 shares of the company’s stock valued at $188,000 after buying an additional 606 shares during the period. Stewart & Patten Co. LLC acquired a new stake in CDK Global during the second quarter valued at about $204,000. FirstMerit Bank N A Trustee acquired a new stake in CDK Global during the second quarter valued at about $209,000. Papp L Roy & Associates acquired a new stake in CDK Global during the second quarter valued at about $215,000. Finally, Marshwinds Advisory Co. acquired a new stake in CDK Global during the second quarter valued at about $220,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.
Shares of CDK Global Inc. (NASDAQ:CDK) traded down 1.19% on Monday, hitting $56.68. The company had a trading volume of 662,849 shares. The company has a market cap of $8.51 billion, a price-to-earnings ratio of 37.54 and a beta of 0.65. The company has a 50 day moving average of $57.66 and a 200-day moving average of $53.85. CDK Global Inc. has a 12-month low of $39.67 and a 12-month high of $60.09.
CDK Global (NASDAQ:CDK) last announced its earnings results on Wednesday, August 3rd. The company reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.03. CDK Global had a return on equity of 45.25% and a net margin of 11.32%. The firm had revenue of $542.20 million for the quarter, compared to analysts’ expectations of $533.84 million. During the same quarter in the previous year, the company earned $0.28 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, analysts forecast that CDK Global Inc. will post $2.32 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were issued a dividend of $0.135 per share. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $0.54 annualized dividend and a yield of 0.95%. CDK Global’s payout ratio is 35.76%.
Separately, Zacks Investment Research cut CDK Global from a “buy” rating to a “hold” rating in a report on Friday, August 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $55.75.
CDK Global Company Profile
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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