Whittier Trust Co. Decreases Stake in CDK Global Inc. (CDK)

Whittier Trust Co. lowered its stake in CDK Global Inc. (NASDAQ:CDK) by 5.8% during the second quarter, Holdings Channel reports. The firm owned 11,632 shares of the company’s stock after selling 714 shares during the period. Whittier Trust Co.’s holdings in CDK Global were worth $645,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Orbis Allan Gray Ltd purchased a new stake in shares of CDK Global during the first quarter valued at about $253,449,000. Sachem Head Capital Management LP boosted its stake in shares of 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 during the period. JPMorgan Chase & Co. boosted its stake in shares of CDK Global by 142.7% in the first quarter. JPMorgan Chase & Co. now owns 479,486 shares of the company’s stock valued at $22,320,000 after buying an additional 281,925 shares during the period. Smith Asset Management Group LP purchased a new stake in shares of CDK Global during the second quarter valued at about $14,973,000. Finally, Bank of Montreal Can purchased a new stake in shares of CDK Global during the second quarter valued at about $13,464,000. 85.36% of the stock is currently owned by institutional investors and hedge funds.

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

CDK Global Inc. (NASDAQ:CDK) traded up 0.15% during mid-day trading on Wednesday, reaching $54.99. The company’s stock had a trading volume of 413,328 shares. CDK Global Inc. has a 12-month low of $39.67 and a 12-month high of $60.09. The stock has a market cap of $8.26 billion, a price-to-earnings ratio of 36.42 and a beta of 0.65. The firm’s 50 day moving average price is $57.28 and its 200 day moving average price is $54.44.

CDK Global (NASDAQ:CDK) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.49 EPS 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 company had revenue of $542.20 million for the quarter, compared to analyst estimates of $533.84 million. During the same period last year, the company earned $0.28 earnings per share. CDK Global’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, equities analysts predict that CDK Global Inc. will post $2.32 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were issued a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Wednesday, September 14th. CDK Global’s payout ratio is currently 35.76%.

Several research firms recently weighed in on CDK. William Blair began coverage on CDK Global in a report on Wednesday. They set a “market perform” rating on the stock. Zacks Investment Research lowered CDK Global from a “buy” rating to a “hold” rating in a report on Wednesday, October 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock presently has an average 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.

5 Day Chart for NASDAQ:CDK

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