CDK Global, Inc. (CDK) Shares Sold by Voya Investment Management LLC
Voya Investment Management LLC lessened its position in shares of CDK Global, Inc. (NASDAQ:CDK) by 25.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 190,743 shares of the software maker’s stock after selling 64,079 shares during the period. Voya Investment Management LLC owned approximately 0.14% of CDK Global worth $11,837,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of CDK. Alpha Windward LLC raised its position in shares of CDK Global by 2.3% in the second quarter. Alpha Windward LLC now owns 1,618 shares of the software maker’s stock valued at $100,000 after buying an additional 36 shares in the last quarter. D.A. Davidson & CO. raised its position in shares of CDK Global by 5.6% in the second quarter. D.A. Davidson & CO. now owns 3,130 shares of the software maker’s stock valued at $194,000 after buying an additional 167 shares in the last quarter. Pinnacle Financial Partners Inc. acquired a new stake in shares of CDK Global in the second quarter valued at approximately $198,000. North American Management Corp raised its position in shares of CDK Global by 6.3% in the second quarter. North American Management Corp now owns 3,342 shares of the software maker’s stock valued at $207,000 after buying an additional 199 shares in the last quarter. Finally, RiverPoint Capital Management LLC acquired a new stake in shares of CDK Global in the first quarter valued at approximately $221,000. Institutional investors own 85.01% of the company’s stock.
Shares of CDK Global, Inc. (NASDAQ:CDK) opened at 64.31 on Friday. CDK Global, Inc. has a 52-week low of $53.46 and a 52-week high of $67.49. The stock has a 50 day moving average of $62.84 and a 200-day moving average of $63.04. The firm has a market capitalization of $9.01 billion, a P/E ratio of 32.32 and a beta of 0.73.
CDK Global (NASDAQ:CDK) last released its quarterly earnings data on Tuesday, August 1st. The software maker reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.01. The company had revenue of $565.40 million during the quarter, compared to the consensus estimate of $556.68 million. CDK Global had a net margin of 13.31% and a return on equity of 204.80%. CDK Global’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the firm earned $0.49 EPS. Equities analysts expect that CDK Global, Inc. will post $2.95 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Monday, September 11th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.87%. The ex-dividend date was Friday, September 8th. CDK Global’s dividend payout ratio (DPR) is presently 28.00%.
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A number of equities research analysts have recently weighed in on CDK shares. Zacks Investment Research downgraded shares of CDK Global from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Evercore ISI upgraded shares of CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 price target for the company in a research report on Monday, July 10th. BidaskClub downgraded shares of CDK Global from a “buy” rating to a “hold” rating in a research report on Wednesday, September 13th. TheStreet downgraded shares of CDK Global from a “c” rating to a “d+” rating in a research report on Tuesday, August 1st. Finally, Wells Fargo & Company upgraded shares of CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 price target for the company in a research report on Wednesday, June 21st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $72.00.
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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