Traders Buy Large Volume of CDK Global Call Options (CDK)
CDK Global, Inc. (NASDAQ:CDK) was the target of some unusual options trading on Tuesday. Stock investors purchased 13,867 call options on the stock. This represents an increase of Infinity compared to the typical volume of 0 call options.
A number of analysts recently weighed in on the company. BidaskClub downgraded CDK Global from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. TheStreet upgraded CDK Global from a “c+” rating to a “b-” rating in a report on Thursday, October 19th. Zacks Investment Research upgraded CDK Global from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, Barrington Research set a $75.00 price objective on CDK Global and gave the company a “buy” rating in a report on Tuesday, October 31st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $72.60.
In other CDK Global news, VP Jennifer A. Williams sold 1,984 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $62.58, for a total transaction of $124,158.72. Following the completion of the transaction, the vice president now directly owns 5,560 shares in the company, valued at $347,944.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.39% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in CDK. Alpha Windward LLC lifted its position in CDK Global by 2.3% in the 2nd quarter. Alpha Windward LLC now owns 1,618 shares of the software maker’s stock valued at $100,000 after acquiring an additional 36 shares in the last quarter. Macquarie Group Ltd. bought a new position in CDK Global in the 3rd quarter valued at about $145,000. D.A. Davidson & CO. lifted its position in CDK Global by 5.6% in the 2nd quarter. D.A. Davidson & CO. now owns 3,130 shares of the software maker’s stock valued at $194,000 after acquiring an additional 167 shares in the last quarter. Pinnacle Financial Partners Inc. bought a new position in CDK Global in the 2nd quarter valued at about $198,000. Finally, North American Management Corp lifted its position in CDK Global by 6.3% in the 2nd quarter. North American Management Corp now owns 3,342 shares of the software maker’s stock valued at $207,000 after acquiring an additional 199 shares in the last quarter. 83.96% of the stock is currently owned by institutional investors.
Shares of CDK Global (CDK) opened at $66.40 on Friday. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 297.80. The company has a market cap of $8,618.13, a price-to-earnings ratio of 24.86, a price-to-earnings-growth ratio of 1.41 and a beta of 0.72. CDK Global has a 1 year low of $56.50 and a 1 year high of $67.49.
CDK Global (NASDAQ:CDK) last issued its quarterly earnings results on Tuesday, October 31st. The software maker reported $0.68 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.68. The business had revenue of $565.70 million for the quarter, compared to analysts’ expectations of $569.28 million. CDK Global had a net margin of 13.42% and a return on equity of 515.77%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 earnings per share. equities research analysts expect that CDK Global will post 2.96 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Thursday, November 30th. This is a boost from CDK Global’s previous quarterly dividend of $0.14. CDK Global’s dividend payout ratio is 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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