Trading Report: The CDK Global Inc. (CDK) Position Lowered by Huntington National Bank

The CDK Global Inc. (CDK) Position Lowered by Huntington National Bank

Huntington National Bank reduced its position in CDK Global Inc. (NASDAQ:CDK) by 53.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,883 shares of the company’s stock after selling 23,810 shares during the period. Huntington National Bank’s holdings in CDK Global were worth $1,159,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Strs Ohio boosted its stake in shares of CDK Global by 21.7% in the second quarter. Strs Ohio now owns 3,394 shares of the company’s stock worth $188,000 after buying an additional 606 shares during the period. Stewart & Patten Co. LLC purchased a new stake in shares of CDK Global during the second quarter worth about $204,000. FirstMerit Bank N A Trustee purchased a new stake in shares of CDK Global during the second quarter worth about $209,000. Papp L Roy & Associates purchased a new stake in shares of CDK Global during the second quarter worth about $215,000. Finally, Marshwinds Advisory Co. purchased a new stake in shares of CDK Global during the second quarter worth about $220,000. 85.39% of the stock is owned by hedge funds and other institutional investors.

Shares of CDK Global Inc. (NASDAQ:CDK) traded up 0.17% during trading on Monday, hitting $54.63. 325,524 shares of the company’s stock were exchanged. The company has a market cap of $8.20 billion, a P/E ratio of 36.18 and a beta of 0.65. The company has a 50-day moving average of $56.90 and a 200-day moving average of $54.68. CDK Global Inc. has a 12-month low of $39.67 and a 12-month high of $60.09.

CDK Global (NASDAQ:CDK) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.46 by $0.03. CDK Global had a net margin of 11.32% and a return on equity of 45.25%. The business earned $542.20 million during the quarter, compared to analysts’ expectations of $533.84 million. During the same period in the previous year, the business posted $0.28 EPS. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, equities analysts expect that CDK Global Inc. will post $2.32 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Wednesday, September 14th. CDK Global’s payout ratio is 35.76%.

Several research firms recently weighed in on CDK. Zacks Investment Research cut shares of CDK Global from a “buy” rating to a “hold” rating in a research note on Wednesday, October 5th. William Blair began coverage on shares of CDK Global in a research note on Wednesday, October 12th. They set a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. CDK Global presently has a consensus rating of “Hold” and an average price target of $55.75.

CDK Global Company Profile

CDK Global, Inc is a provider of integrated information technology and digital marketing/advertising solutions to the automotive retail industry. The Company’s segments are Automotive Retail North America (ARNA), Automotive Retail International (ARI) and Digital Marketing (DM). The Company’s solutions automate workflow processes from pre-sale targeted advertising and marketing campaigns to the sale, financing, insurance, parts supply, and repair and maintenance of vehicles.

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