CDK Global, Inc. (CDK) Position Reduced by Mountain Pacific Investment Advisers Inc. ID
Mountain Pacific Investment Advisers Inc. ID cut its position in CDK Global, Inc. (NASDAQ:CDK) by 3.1% during the second quarter, Holdings Channel reports. The fund owned 9,233 shares of the software maker’s stock after selling 300 shares during the period. Mountain Pacific Investment Advisers Inc. ID’s holdings in CDK Global were worth $573,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in the company. TrimTabs Asset Management LLC raised its position 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 valued at $119,000 after buying an additional 864 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its position 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 valued at $129,000 after buying an additional 23 shares during the last quarter. Acrospire Investment Management LLC raised its position 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 valued at $130,000 after buying an additional 300 shares during the last quarter. Pinnacle Bank bought a new position in CDK Global during the first quarter valued at about $137,000. Finally, Penserra Capital Management LLC raised its position 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 valued at $170,000 after buying an additional 228 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.
Shares of CDK Global, Inc. (NASDAQ:CDK) traded up 0.61% during trading on Wednesday, hitting $64.61. The company had a trading volume of 284,046 shares. The stock has a market capitalization of $9.38 billion, a price-to-earnings ratio of 33.05 and a beta of 0.73. CDK Global, Inc. has a 12-month low of $53.46 and a 12-month high of $67.49. The stock has a 50-day moving average of $62.13 and a 200 day moving average of $63.32.
CDK Global (NASDAQ:CDK) last released its earnings results on Tuesday, May 2nd. The software maker reported $0.65 EPS for the quarter, topping the consensus estimate of $0.57 by $0.08. CDK Global had a return on equity of 126.04% and a net margin of 13.44%. The business had revenue of $556.30 million during the quarter, compared to analysts’ expectations of $556.98 million. During the same quarter last year, the firm posted $0.42 earnings per share. The firm’s revenue was up 3.5% on a year-over-year basis. On average, analysts predict that CDK Global, Inc. will post $2.43 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Tuesday, June 20th were paid a $0.14 dividend. The ex-dividend date was Friday, June 16th. This represents a $0.56 dividend on an annualized basis and a yield of 0.87%. CDK Global’s dividend payout ratio (DPR) is presently 28.57%.
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Several equities analysts have recently issued reports on CDK shares. Zacks Investment Research upgraded CDK Global from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research report on Tuesday, April 4th. Wells Fargo & Company upgraded CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research report on Wednesday, June 21st. TheStreet upgraded CDK Global from a “d+” rating to a “c” rating in a research report on Monday, May 8th. Finally, Evercore ISI upgraded CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 target price for the company in a research report on Monday, July 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. CDK Global has an average rating of “Hold” and an average price target of $71.75.
In other news, insider Brian P. Macdonald acquired 5,000 shares of CDK Global stock in a transaction 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 completion of the purchase, the insider now owns 96,877 shares of the company’s stock, valued at approximately $5,858,152.19. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.34% of the company’s stock.
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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