White Pine Investment CO lowered its stake in shares of CDK Global Inc. (NASDAQ:CDK) by 2.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,900 shares of the company’s stock after selling 100 shares during the period. White Pine Investment CO’s holdings in CDK Global were worth $281,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently added to or reduced their stakes in CDK. Smith Asset Management Group LP acquired a new position in shares of CDK Global during the second quarter valued at approximately $14,973,000. Bank of Montreal Can acquired a new position in shares of CDK Global during the second quarter valued at approximately $13,464,000. Frontier Capital Management Co. LLC increased its position in shares of CDK Global by 0.4% in the second quarter. Frontier Capital Management Co. LLC now owns 2,359,304 shares of the company’s stock valued at $130,918,000 after buying an additional 9,965 shares during the period. Twin Capital Management Inc. acquired a new position in shares of CDK Global during the second quarter valued at approximately $1,742,000. Finally, Ameriprise Financial Inc. increased its position in shares of CDK Global by 2.6% in the second quarter. Ameriprise Financial Inc. now owns 408,572 shares of the company’s stock valued at $22,671,000 after buying an additional 10,412 shares during the period. Institutional investors own 83.09% of the company’s stock.
CDK Global Inc. (NASDAQ:CDK) opened at 58.90 on Monday. The company has a market cap of $8.81 billion, a P/E ratio of 35.76 and a beta of 0.70. The stock’s 50 day moving average price is $55.83 and its 200-day moving average price is $56.30. CDK Global Inc. has a 52-week low of $39.67 and a 52-week high of $60.09.
CDK Global (NASDAQ:CDK) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.07. CDK Global had a return on equity of 59.26% and a net margin of 11.96%. The firm had revenue of $550.70 million for the quarter, compared to the consensus estimate of $538.63 million. During the same quarter last year, the business posted $0.38 earnings per share. The firm’s revenue was up 7.0% compared to the same quarter last year. On average, equities analysts predict that CDK Global Inc. will post $2.34 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Tuesday, December 20th will be given a dividend of $0.14 per share. This is an increase from CDK Global’s previous quarterly dividend of $0.14. The ex-dividend date is Friday, December 16th. This represents a $0.56 dividend on an annualized basis and a yield of 0.95%. CDK Global’s dividend payout ratio (DPR) is presently 32.73%.
CDK has been the topic of several research analyst reports. Zacks Investment Research raised CDK Global from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a research report on Friday, November 4th. TheStreet raised CDK Global from a “hold” rating to a “buy” rating in a research report on Wednesday, November 2nd. Finally, William Blair initiated coverage on CDK Global in a research report on Wednesday, October 12th. They issued a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $55.75.
About CDK Global
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.