Bank of Montreal Can Buys Shares of 242,629 CDK Global Inc. (CDK)
Bank of Montreal Can bought a new stake in CDK Global Inc. (NASDAQ:CDK) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 242,629 shares of the company’s stock, valued at approximately $13,464,000. Bank of Montreal Can owned about 0.16% of CDK Global as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Icon Advisers Inc. Co. purchased a new position in shares of CDK Global during the first quarter worth about $1,117,000. Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of CDK Global by 0.6% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 20,161 shares of the company’s stock worth $938,000 after buying an additional 125 shares during the period. BlackRock Inc. boosted its position in shares of CDK Global by 6.4% in the first quarter. BlackRock Inc. now owns 236,087 shares of the company’s stock worth $10,991,000 after buying an additional 14,229 shares during the period. BlackRock Group LTD boosted its position in shares of CDK Global by 1.6% in the first quarter. BlackRock Group LTD now owns 903,724 shares of the company’s stock worth $42,069,000 after buying an additional 14,273 shares during the period. Finally, JPMorgan Chase & Co. boosted its position 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 worth $22,320,000 after buying an additional 281,925 shares during the period. 85.36% of the stock is currently owned by institutional investors.
CDK Global Inc. (NASDAQ:CDK) traded up 0.60% during mid-day trading on Friday, hitting $57.36. 584,209 shares of the company’s stock were exchanged. 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 $8.61 billion, a PE ratio of 37.99 and a beta of 0.65. The stock’s 50 day moving average price is $57.66 and its 200-day moving average price is $53.85.
CDK Global (NASDAQ:CDK) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.03. The company had revenue of $542.20 million for the quarter, compared to analysts’ expectations of $533.84 million. CDK Global had a net margin of 11.32% and a return on equity of 45.25%. CDK Global’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.28 EPS. Equities analysts expect 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 paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend was Wednesday, September 14th. CDK Global’s payout ratio is currently 35.76%.
Separately, Zacks Investment Research raised shares of CDK Global from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a research note on Monday, June 13th. 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 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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