JPMorgan Chase & Co. Lowers Stake in CDK Global Inc. (CDK)

JPMorgan Chase & Co. decreased its stake in CDK Global Inc. (NASDAQ:CDK) by 53.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 223,862 shares of the company’s stock after selling 255,624 shares during the period. JPMorgan Chase & Co. owned about 0.14% of CDK Global worth $12,423,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Strs Ohio boosted its stake in shares of 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 last quarter. Stewart & Patten Co. LLC bought a new stake in shares of CDK Global during the second quarter valued at approximately $204,000. FirstMerit Bank N A Trustee bought a new stake in shares of CDK Global during the second quarter valued at approximately $209,000. Papp L Roy & Associates bought a new stake in shares of CDK Global during the second quarter valued at approximately $215,000. Finally, Penobscot Investment Management Company Inc. bought a new stake in shares of CDK Global during the second quarter valued at approximately $219,000. Institutional investors own 85.36% of the company’s stock.

Institutional Ownership by Quarter for CDK Global (NASDAQ:CDK)

CDK Global Inc. (NASDAQ:CDK) traded down 1.08% during trading on Monday, hitting $56.74. The company’s stock had a trading volume of 257,860 shares. The firm has a 50 day moving average of $57.66 and a 200 day moving average of $53.85. The firm has a market cap of $8.52 billion, a P/E ratio of 37.58 and a beta of 0.65. CDK Global Inc. has a 12 month low of $39.67 and a 12 month high of $60.09.

CDK Global (NASDAQ:CDK) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.49 earnings per share for the quarter, beating the 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 last year, the firm posted $0.28 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. Equities research analysts predict that CDK Global Inc. will post $2.32 earnings per share for the current year.

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.94%. CDK Global’s dividend 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 equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. CDK Global currently has a consensus rating of “Hold” and a consensus price target 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.

5 Day Chart for NASDAQ:CDK

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