Signet Financial Management LLC decreased its stake in shares of CDK Global Inc (NASDAQ:CDK) by 10.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 49,706 shares of the software maker’s stock after selling 5,569 shares during the period. Signet Financial Management LLC’s holdings in CDK Global were worth $2,670,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Berman Capital Advisors LLC boosted its holdings in CDK Global by 76.0% in the 2nd quarter. Berman Capital Advisors LLC now owns 623 shares of the software maker’s stock valued at $30,000 after purchasing an additional 269 shares during the period. Cordasco Financial Network purchased a new stake in CDK Global during the 2nd quarter worth about $33,000. Wealthcare Advisory Partners LLC boosted its stake in CDK Global by 224.9% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 692 shares of the software maker’s stock worth $34,000 after purchasing an additional 479 shares during the period. Alpha Windward LLC boosted its stake in CDK Global by 41.1% in the 2nd quarter. Alpha Windward LLC now owns 965 shares of the software maker’s stock worth $51,000 after purchasing an additional 281 shares during the period. Finally, Icon Wealth Partners LLC purchased a new position in CDK Global during the 1st quarter valued at about $59,000. 81.38% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently weighed in on CDK shares. BidaskClub cut CDK Global from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. Zacks Investment Research lowered CDK Global from a “hold” rating to a “strong sell” rating in a report on Monday, August 19th. ValuEngine cut CDK Global from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Finally, Barrington Research reaffirmed a “buy” rating and set a $65.00 price target on shares of CDK Global in a report on Monday, August 19th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. CDK Global presently has a consensus rating of “Hold” and an average target price of $64.00.

In other news, General Counsel Lee J. Brunz sold 1,000 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $50.74, for a total transaction of $50,740.00. Following the completion of the sale, the general counsel now directly owns 37,927 shares of the company’s stock, valued at approximately $1,924,415.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 2,000 shares of company stock worth $96,925 in the last three months. 0.50% of the stock is owned by corporate insiders.

CDK Global stock traded up $0.94 during mid-day trading on Wednesday, hitting $47.18. The company had a trading volume of 284,005 shares, compared to its average volume of 1,110,119. The stock has a market cap of $5.57 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 1.37 and a beta of 0.90. CDK Global Inc has a 1 year low of $41.50 and a 1 year high of $64.77. The business has a fifty day moving average of $46.82 and a 200 day moving average of $52.40.

CDK Global (NASDAQ:CDK) last issued its quarterly earnings data on Tuesday, August 13th. The software maker reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.02. CDK Global had a net margin of 5.55% and a negative return on equity of 90.04%. The business had revenue of $488.60 million during the quarter, compared to the consensus estimate of $585.10 million. During the same quarter in the previous year, the firm earned $0.87 EPS. The company’s revenue was up 7.6% compared to the same quarter last year. As a group, equities analysts expect that CDK Global Inc will post 3.19 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Friday, August 30th. CDK Global’s dividend payout ratio (DPR) is 19.11%.

CDK Global Profile

CDK Global, Inc provides software and technology solutions for automotive retailers in the United States and internationally. The company operates through Retail Solutions North America, Advertising North America, and CDK International segments. The company offers Dealer Management System (DMS), a portfolio of layered software applications and services for automotive retailers, original equipment manufacturers (OEMs), consumers, and other industry participants manage the acquisition, sale, financing, insuring, parts supply, and repair and maintenance of vehicles.

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Institutional Ownership by Quarter for CDK Global (NASDAQ:CDK)

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