CDK Global (CDK) Sets New 52-Week High at $71.71
CDK Global, Inc. (NASDAQ:CDK) shares reached a new 52-week high on Tuesday . The company traded as high as $71.71 and last traded at $71.45, with a volume of 1041700 shares changing hands. The stock had previously closed at $70.76.
A number of research analysts have recently commented on CDK shares. BidaskClub lowered shares of CDK Global from a “buy” rating to a “hold” rating in a research report on Wednesday, September 13th. Zacks Investment Research upgraded shares of CDK Global from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research report on Tuesday, October 3rd. TheStreet upgraded shares of CDK Global from a “c+” rating to a “b-” rating in a research report on Thursday, October 19th. Finally, Barrington Research set a $75.00 price target on shares of CDK Global and gave the company a “buy” rating in a research report on Tuesday, October 31st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. CDK Global presently has a consensus rating of “Buy” and a consensus target price of $72.60.
The stock has a market capitalization of $9,732.19, a PE ratio of 28.08, a P/E/G ratio of 1.59 and a beta of 0.75. The company has a debt-to-equity ratio of 297.80, a quick ratio of 2.37 and a current ratio of 2.37.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be given a dividend of $0.15 per share. This is a positive change from CDK Global’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date is Thursday, November 30th. CDK Global’s payout ratio is 29.13%.
In related news, VP Jennifer A. Williams sold 1,984 shares of the company’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $62.58, for a total value of $124,158.72. Following the completion of the transaction, the vice president now directly owns 5,560 shares in the company, valued at $347,944.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.39% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. Macquarie Group Ltd. bought a new stake in CDK Global in the third quarter worth $145,000. D.A. Davidson & CO. lifted its stake in CDK Global by 5.6% in the second quarter. D.A. Davidson & CO. now owns 3,130 shares of the software maker’s stock worth $194,000 after purchasing an additional 167 shares during the last quarter. TrimTabs Asset Management LLC lifted its stake in CDK Global by 105.0% in the second quarter. TrimTabs Asset Management LLC now owns 3,766 shares of the software maker’s stock worth $234,000 after purchasing an additional 1,929 shares during the last quarter. Associated Banc Corp lifted its stake in CDK Global by 4.7% in the second quarter. Associated Banc Corp now owns 3,965 shares of the software maker’s stock worth $246,000 after purchasing an additional 179 shares during the last quarter. Finally, IFM Investors Pty Ltd bought a new stake in CDK Global in the third quarter worth $275,000. Institutional investors own 87.45% of the company’s stock.
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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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