Raymond James Trust N.A. Sells 132 Shares of CDK Global, Inc. (CDK)
Raymond James Trust N.A. lessened its stake in shares of CDK Global, Inc. (NASDAQ:CDK) by 1.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 8,298 shares of the software maker’s stock after selling 132 shares during the period. Raymond James Trust N.A.’s holdings in CDK Global were worth $515,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. Alpha Windward LLC increased its stake in CDK Global by 2.3% in the second quarter. Alpha Windward LLC now owns 1,618 shares of the software maker’s stock worth $100,000 after purchasing an additional 36 shares during the period. TrimTabs Asset Management LLC increased its stake in shares of CDK Global by 88.8% during the first quarter. TrimTabs Asset Management LLC now owns 1,837 shares of the software maker’s stock valued at $119,000 after buying an additional 864 shares during the period. Bronfman E.L. Rothschild L.P. increased its stake in shares of CDK Global by 1.2% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,979 shares of the software maker’s stock valued at $129,000 after buying an additional 23 shares during the period. Penserra Capital Management LLC increased its stake in shares of CDK Global by 9.5% during the first quarter. Penserra Capital Management LLC now owns 2,622 shares of the software maker’s stock valued at $170,000 after buying an additional 228 shares during the period. Finally, Pinnacle Financial Partners Inc. purchased a new position in shares of CDK Global during the second quarter valued at $198,000. Institutional investors own 85.06% of the company’s stock.
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Several equities analysts have recently commented on the company. BidaskClub upgraded CDK Global from a “hold” rating to a “buy” rating in a research note on Saturday, August 19th. Zacks Investment Research upgraded CDK Global from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. 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 note on Wednesday, June 21st. TheStreet lowered CDK Global from a “c” rating to a “d+” rating in a research note on Tuesday, August 1st. Finally, 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 note on Monday, July 10th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $71.75.
CDK Global, Inc. (CDK) opened at 61.15 on Friday. The stock’s 50 day moving average price is $62.63 and its 200 day moving average price is $63.39. CDK Global, Inc. has a 52 week low of $53.46 and a 52 week high of $67.49. The stock has a market cap of $8.57 billion, a price-to-earnings ratio of 30.73 and a beta of 0.75.
CDK Global (NASDAQ:CDK) last posted its quarterly earnings data on Tuesday, August 1st. The software maker reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.01. The firm had revenue of $565.40 million for the quarter, compared to the consensus estimate of $556.68 million. CDK Global had a return on equity of 204.80% and a net margin of 13.31%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.49 EPS. On average, analysts forecast that CDK Global, Inc. will post $2.95 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Monday, September 11th will be issued a $0.14 dividend. The ex-dividend date is Friday, September 8th. This represents a $0.56 annualized dividend and a dividend yield of 0.92%. CDK Global’s dividend payout ratio is presently 28.00%.
CDK Global Company Profile
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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