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.

CDK Global (NASDAQ:CDK) last announced its earnings results on Tuesday, January 30th. The software maker reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.17. CDK Global had a negative return on equity of 5,261.95% and a net margin of 14.29%. The firm had revenue of $561.70 million for the quarter, compared to the consensus estimate of $564.94 million. During the same quarter in the previous year, the business earned $0.55 EPS. The company’s revenue was up 2.5% compared to the same quarter last year. research analysts forecast that CDK Global Inc will post 3.26 earnings per share for the current fiscal year.

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.

COPYRIGHT VIOLATION NOTICE: “WASHINGTON TRUST Co Invests $215,000 in CDK Global Inc (CDK) Stock” was first posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this article on another website, it was copied illegally and reposted in violation of United States and international copyright laws. The correct version of this article can be accessed at https://www.thecerbatgem.com/2018/02/07/washington-trust-co-invests-215000-in-cdk-global-inc-cdk-stock.html.

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.

Want to see what other hedge funds are holding CDK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CDK Global Inc (NASDAQ:CDK).

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

Receive News & Ratings for CDK Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CDK Global and related companies with MarketBeat.com's FREE daily email newsletter.