Papp L Roy & Associates purchased a new stake in shares of CDK Global Inc. (NASDAQ:CDK) during the second quarter, Holdings Channel reports. The fund purchased 3,870 shares of the company’s stock, valued at approximately $215,000.
Several other large investors also recently modified their holdings of CDK. Sachem Head Capital Management LP boosted its stake in CDK Global by 3.8% in the first quarter. Sachem Head Capital Management LP now owns 11,523,377 shares of the company’s stock valued at $536,413,000 after buying an additional 426,044 shares in the last quarter. Elliott Management Corp boosted its stake in CDK Global by 0.8% in the first quarter. Elliott Management Corp now owns 8,110,000 shares of the company’s stock valued at $377,521,000 after buying an additional 64,206 shares in the last quarter. State Street Corp boosted its stake in CDK Global by 2.4% in the first quarter. State Street Corp now owns 6,355,331 shares of the company’s stock valued at $295,850,000 after buying an additional 147,065 shares in the last quarter. Orbis Allan Gray Ltd acquired a new stake in CDK Global during the first quarter valued at approximately $253,449,000. Finally, American Century Companies Inc. boosted its stake in CDK Global by 0.6% in the second quarter. American Century Companies Inc. now owns 1,396,250 shares of the company’s stock valued at $77,478,000 after buying an additional 7,874 shares in the last quarter. 85.36% of the stock is owned by institutional investors.
Shares of CDK Global Inc. (NASDAQ:CDK) traded down 0.07% on Wednesday, reaching $56.37. The company’s stock had a trading volume of 429,143 shares. CDK Global Inc. has a 12-month low of $39.67 and a 12-month high of $60.09. The company’s 50 day moving average price is $57.54 and its 200 day moving average price is $54.13. The company has a market cap of $8.46 billion, a P/E ratio of 37.33 and a beta of 0.65.
CDK Global (NASDAQ:CDK) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.49 earnings per share (EPS) for the quarter, beating 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 company had revenue of $542.20 million for the quarter, compared to the consensus estimate of $533.84 million. During the same quarter in the previous year, the business earned $0.28 EPS. CDK Global’s revenue was up 7.8% compared to the same quarter last year. Analysts forecast that CDK Global Inc. will post $2.32 EPS for the current fiscal year.
The firm also recently declared 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 yield of 0.96%. CDK Global’s dividend payout ratio is presently 35.76%.
Separately, Zacks Investment Research cut CDK Global from a “buy” rating to a “hold” rating in a research note on Friday, August 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. CDK Global presently has an average 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.
Want to see what other hedge funds are holding CDK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CDK Global Inc. (NASDAQ:CDK).
Receive News & Ratings for CDK Global Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CDK Global Inc. and related companies with MarketBeat.com's FREE daily email newsletter.