Donaldson Capital Management LLC Sells 234 Shares of CDK Global, Inc. (CDK)
Donaldson Capital Management LLC cut its position in CDK Global, Inc. (NASDAQ:CDK) by 6.4% during the second quarter, Holdings Channel reports. The institutional investor owned 3,411 shares of the software maker’s stock after selling 234 shares during the period. Donaldson Capital Management LLC’s holdings in CDK Global were worth $212,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the company. Gulf International Bank UK Ltd boosted its stake in CDK Global by 1.5% in the first quarter. Gulf International Bank UK Ltd now owns 43,640 shares of the software maker’s stock worth $2,837,000 after buying an additional 650 shares in the last quarter. Bank of Montreal Can boosted its stake in CDK Global by 447.7% in the first quarter. Bank of Montreal Can now owns 122,544 shares of the software maker’s stock worth $7,967,000 after buying an additional 100,169 shares in the last quarter. Capstone Asset Management Co. boosted its stake in CDK Global by 3.1% in the first quarter. Capstone Asset Management Co. now owns 14,442 shares of the software maker’s stock worth $939,000 after buying an additional 440 shares in the last quarter. Parametrica Management Ltd acquired a new stake in CDK Global during the first quarter worth approximately $305,000. Finally, Pinnacle Bank acquired a new stake in CDK Global during the first quarter worth approximately $137,000. 81.37% of the stock is currently owned by institutional investors.
CDK Global, Inc. (CDK) opened at 61.57 on Tuesday. The company has a 50-day moving average price of $63.19 and a 200 day moving average price of $63.74. The stock has a market cap of $8.63 billion, a price-to-earnings ratio of 30.94 and a beta of 0.74. CDK Global, Inc. has a 52-week low of $53.46 and a 52-week high of $67.49.
CDK Global (NASDAQ:CDK) last posted its quarterly earnings results on Tuesday, August 1st. The software maker reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.01. CDK Global had a net margin of 13.31% and a return on equity of 204.80%. The business had revenue of $565.40 million during the quarter, compared to analysts’ expectations of $556.68 million. During the same quarter in the prior year, the company posted $0.49 EPS. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, analysts expect that CDK Global, Inc. will post $2.95 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 11th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.56 annualized dividend and a dividend yield of 0.91%. CDK Global’s dividend payout ratio (DPR) is 28.00%.
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CDK has been the topic of a number of recent analyst reports. Zacks Investment Research cut CDK Global from a “buy” rating to a “hold” rating in a report on Tuesday, April 18th. Evercore ISI raised CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 price target on the stock in a report on Monday, July 10th. Wells Fargo & Company raised CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 price target on the stock in a report on Wednesday, June 21st. TheStreet raised CDK Global from a “d+” rating to a “c” rating in a report on Monday, May 8th. Finally, BidaskClub raised CDK Global from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $71.75.
In other news, insider Brian P. Macdonald purchased 5,000 shares of the company’s stock in a transaction dated Friday, May 26th. The stock was acquired at an average price of $60.47 per share, with a total value of $302,350.00. Following the purchase, the insider now directly owns 96,877 shares in the company, valued at approximately $5,858,152.19. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.34% of the company’s stock.
CDK Global Company 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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