Granite Investment Partners LLC Has $779,000 Stake in CDK Global, Inc. (CDK)
Granite Investment Partners LLC decreased its holdings in shares of CDK Global, Inc. (NASDAQ:CDK) by 31.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,347 shares of the software maker’s stock after selling 5,725 shares during the quarter. Granite Investment Partners LLC’s holdings in CDK Global were worth $779,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Commerce Bank boosted its stake in CDK Global by 47.0% during the 2nd quarter. Commerce Bank now owns 33,552 shares of the software maker’s stock worth $2,082,000 after acquiring an additional 10,731 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in CDK Global by 12.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 661,036 shares of the software maker’s stock worth $41,024,000 after acquiring an additional 74,017 shares during the last quarter. Koch Industries Inc. boosted its stake in CDK Global by 13,261.7% during the 2nd quarter. Koch Industries Inc. now owns 1,136,278 shares of the software maker’s stock worth $1,118,000 after acquiring an additional 1,127,774 shares during the last quarter. Swiss National Bank boosted its stake in CDK Global by 5.7% during the 2nd quarter. Swiss National Bank now owns 476,000 shares of the software maker’s stock worth $29,541,000 after acquiring an additional 25,600 shares during the last quarter. Finally, Caldera Capital LLC bought a new position in CDK Global during the 2nd quarter worth approximately $5,086,000. Institutional investors own 83.67% of the company’s stock.
In other CDK Global news, VP Jennifer A. Williams sold 1,984 shares of CDK Global stock in a transaction that occurred 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 transaction, the vice president now owns 5,560 shares of the company’s stock, valued at $347,944.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.39% of the company’s stock.
Several research firms recently weighed in on CDK. BidaskClub raised shares of CDK Global from a “hold” rating to a “buy” rating in a research note on Saturday, August 19th. Zacks Investment Research raised shares of CDK Global from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Tuesday, October 3rd. TheStreet raised shares of CDK Global from a “c+” rating to a “b-” rating in a research note on Thursday, October 19th. Finally, Barrington Research set a $75.00 price objective on shares of CDK Global and gave the stock a “buy” rating in a research note on Tuesday, October 31st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. CDK Global presently has an average rating of “Buy” and a consensus price target of $72.60.
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Shares of CDK Global, Inc. (NASDAQ:CDK) traded up $0.54 on Thursday, reaching $69.19. 1,571,000 shares of the company’s stock were exchanged, compared to its average volume of 898,100. The company has a debt-to-equity ratio of 297.80, a quick ratio of 2.37 and a current ratio of 2.37. CDK Global, Inc. has a 1 year low of $56.50 and a 1 year high of $69.32. The company has a market capitalization of $9,441.98, a price-to-earnings ratio of 27.24, a P/E/G ratio of 1.54 and a beta of 0.72.
CDK Global (NASDAQ:CDK) last announced its quarterly earnings results on Tuesday, October 31st. The software maker reported $0.68 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.68. CDK Global had a net margin of 13.42% and a return on equity of 515.77%. The firm had revenue of $565.70 million for the quarter, compared to analyst estimates of $569.28 million. During the same quarter in the previous year, the firm posted $0.60 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. research analysts forecast that CDK Global, Inc. will post 2.97 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.60 dividend on an annualized basis and a yield of 0.87%. This is a positive change from CDK Global’s previous quarterly dividend of $0.14. CDK Global’s payout ratio is presently 27.18%.
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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