Wheatland Advisors Inc. Sells 199 Shares of CDK Global, Inc. (CDK)
Wheatland Advisors Inc. lowered its stake in shares of CDK Global, Inc. (NASDAQ:CDK) by 5.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,741 shares of the software maker’s stock after selling 199 shares during the period. Wheatland Advisors Inc.’s holdings in CDK Global were worth $232,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. First Manhattan Co. boosted its stake in shares of CDK Global by 0.3% in the first quarter. First Manhattan Co. now owns 11,477 shares of the software maker’s stock valued at $658,000 after buying an additional 32 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of CDK Global during the first quarter valued at approximately $209,000. Middleton & Co Inc MA boosted its stake in shares of CDK Global by 308.9% in the first quarter. Middleton & Co Inc MA now owns 67,746 shares of the software maker’s stock valued at $4,404,000 after buying an additional 51,179 shares during the last quarter. DnB Asset Management AS acquired a new stake in shares of CDK Global during the first quarter valued at approximately $754,000. Finally, Pinnacle Bank acquired a new stake in shares of CDK Global during the first quarter valued at approximately $137,000. Institutional investors own 83.30% of the company’s stock.
Shares of CDK Global, Inc. (CDK) opened at 61.87 on Thursday. CDK Global, Inc. has a 12 month low of $53.46 and a 12 month high of $67.49. The company has a market cap of $8.83 billion, a PE ratio of 31.09 and a beta of 0.74. The firm’s 50 day moving average is $63.31 and its 200 day moving average is $63.73.
CDK Global (NASDAQ:CDK) last released its quarterly earnings results on Tuesday, August 1st. The software maker reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.01. The firm 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%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.49 earnings per share. On average, equities analysts predict that CDK Global, Inc. will post $2.95 earnings per share for the current year.
The firm 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 dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Friday, September 8th. CDK Global’s payout ratio is currently 28.00%.
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Several brokerages have commented on CDK. BidaskClub upgraded shares of CDK Global from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research cut shares of CDK Global from a “buy” rating to a “hold” rating in a research report on Tuesday, April 18th. TheStreet upgraded shares of CDK Global from a “d+” rating to a “c” rating in a research report on Monday, May 8th. Wells Fargo & Company upgraded shares of CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research report on Wednesday, June 21st. Finally, Evercore ISI upgraded shares of CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 target price for the company in a research report on Monday, July 10th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $71.75.
In other CDK Global news, insider Brian P. Macdonald purchased 5,000 shares of the company’s stock in a transaction dated Friday, May 26th. The stock was purchased at an average price of $60.47 per share, with a total value of $302,350.00. Following the completion of the purchase, the insider now owns 96,877 shares of the company’s stock, valued at $5,858,152.19. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.34% of the stock is currently owned by company insiders.
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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