WASHINGTON TRUST Co Invests $215,000 in CDK Global Inc (CDK) Stock
WASHINGTON TRUST Co purchased a new stake in shares of CDK Global Inc (NASDAQ:CDK) in the fourth quarter, Holdings Channel reports. The firm purchased 3,027 shares of the software maker’s stock, valued at approximately $215,000.
Other hedge funds also recently added to or reduced their stakes in the company. Macquarie Group Ltd. acquired a new position in CDK Global during the 3rd quarter valued at about $145,000. Bredin Investment LLC purchased a new position in shares of CDK Global in the 4th quarter worth approximately $203,000. BB&T Corp purchased a new position in shares of CDK Global in the 4th quarter worth approximately $208,000. Atlas Brown Inc. purchased a new position in shares of CDK Global in the 4th quarter worth approximately $214,000. Finally, North American Management Corp purchased a new position in shares of CDK Global in the 4th quarter worth approximately $224,000. Institutional investors and hedge funds own 89.73% of the company’s stock.
CDK Global Inc (CDK) opened at $68.44 on Wednesday. CDK Global Inc has a 12 month low of $59.33 and a 12 month high of $76.04. The firm has a market capitalization of $9,156.71, a P/E ratio of 24.75, a PEG ratio of 1.39 and a beta of 0.67. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of -11.19.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 1st will be paid a $0.15 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $0.60 annualized dividend and a yield of 0.88%. CDK Global’s payout ratio is 26.55%.
CDK has been the topic of a number of research analyst reports. BidaskClub downgraded CDK Global from a “hold” rating to a “sell” rating in a research note on Tuesday, January 23rd. Barrington Research set a $75.00 target price on CDK Global and gave the stock a “buy” rating in a research note on Tuesday, October 31st. Zacks Investment Research downgraded CDK Global from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. TheStreet upgraded CDK Global from a “c+” rating to a “b-” rating in a research note on Thursday, October 19th. Finally, Wells Fargo & Co restated an “outperform” rating and issued a $80.00 target price (up previously from $75.00) on shares of CDK Global in a research note on Wednesday, January 31st. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $76.80.
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CDK Global 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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