Meeder Asset Management Inc. Has $250,000 Position in CDK Global, Inc. (NASDAQ:CDK)
Meeder Asset Management Inc. decreased its stake in shares of CDK Global, Inc. (NASDAQ:CDK) by 74.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,856 shares of the software maker’s stock after selling 11,213 shares during the period. Meeder Asset Management Inc.’s holdings in CDK Global were worth $250,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. TrimTabs Asset Management LLC increased its stake in CDK Global by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 1,837 shares of the software maker’s stock worth $119,000 after buying an additional 864 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in CDK Global by 1.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,979 shares of the software maker’s stock worth $129,000 after buying an additional 23 shares during the last quarter. Acrospire Investment Management LLC increased its stake in CDK Global by 17.6% in the first quarter. Acrospire Investment Management LLC now owns 2,000 shares of the software maker’s stock worth $130,000 after buying an additional 300 shares during the last quarter. Pinnacle Bank purchased a new stake in CDK Global during the first quarter worth $137,000. Finally, Penserra Capital Management LLC increased its stake in CDK Global by 9.5% in the first quarter. Penserra Capital Management LLC now owns 2,622 shares of the software maker’s stock worth $170,000 after buying an additional 228 shares during the last quarter. 83.99% of the stock is owned by institutional investors.
CDK Global, Inc. (NASDAQ CDK) traded up 0.50% on Friday, hitting $63.89. The stock had a trading volume of 750,942 shares. The company’s 50 day moving average price is $61.74 and its 200 day moving average price is $63.04. The firm has a market cap of $9.28 billion, a price-to-earnings ratio of 32.68 and a beta of 0.73. CDK Global, Inc. has a 52-week low of $53.46 and a 52-week high of $67.49.
CDK Global (NASDAQ:CDK) last released its quarterly earnings data on Tuesday, May 2nd. The software maker reported $0.65 EPS for the quarter, beating the consensus estimate of $0.57 by $0.08. CDK Global had a net margin of 13.44% and a return on equity of 126.04%. The business had revenue of $556.30 million during the quarter, compared to the consensus estimate of $556.98 million. During the same quarter in the prior year, the firm earned $0.42 EPS. The business’s revenue was up 3.5% on a year-over-year basis. Analysts expect that CDK Global, Inc. will post $2.43 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Tuesday, June 20th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date was Friday, June 16th. CDK Global’s payout ratio is 28.57%.
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A number of equities research analysts have weighed in on CDK shares. Evercore ISI upgraded CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 price target on the stock in a research report on Monday, July 10th. Zacks Investment Research downgraded CDK Global from a “buy” rating to a “hold” rating in a research report on Tuesday, April 18th. TheStreet upgraded CDK Global from a “d+” rating to a “c” rating in a research report on Monday, May 8th. Finally, Wells Fargo & Company upgraded CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 price target on the stock in a research report on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $71.75.
In other CDK Global news, insider Brian P. Macdonald purchased 5,000 shares of the stock in a transaction that occurred on Friday, May 26th. The stock was purchased at an average price of $60.47 per share, with a total value of $302,350.00. Following the acquisition, the insider now owns 96,877 shares in the company, valued at $5,858,152.19. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is currently owned by company insiders.
About CDK Global
CDK Global, Inc provides integrated information technology and digital marketing solutions. The Company’s segments include Retail Solutions North America, Advertising North America and CDK International. Through its Retail Solutions North America segment, the Company provides technology-based solutions, including automotive Website platforms, that help automotive retailers, original equipment manufacturers (OEMs) and other industry participants manage the acquisition, sale, financing, insuring, parts supply, repair and maintenance of vehicles.
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