Beacon Trust Co. Reduces Stake in CDK Global Inc. (CDK)

Beacon Trust Co. Reduces Stake in CDK Global Inc. (CDK)

Beacon Trust Co. reduced its position in shares of CDK Global Inc. (NASDAQ:CDK) by 1.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,125 shares of the company’s stock after selling 866 shares during the period. Beacon Trust Co.’s holdings in CDK Global were worth $3,170,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio increased its stake in shares of CDK Global by 29.6% in the second quarter. Public Employees Retirement System of Ohio now owns 60,923 shares of the company’s stock valued at $3,381,000 after buying an additional 13,922 shares during the period. Calvert Investment Management Inc. increased its stake in shares of CDK Global by 4.8% in the second quarter. Calvert Investment Management Inc. now owns 8,049 shares of the company’s stock valued at $447,000 after buying an additional 370 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of CDK Global by 11.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 388,230 shares of the company’s stock valued at $21,543,000 after buying an additional 41,100 shares during the period. Lowe Brockenbrough & Co. Inc. bought a new stake in shares of CDK Global during the second quarter valued at approximately $236,000. Finally, Stifel Financial Corp increased its stake in shares of CDK Global by 13.1% in the second quarter. Stifel Financial Corp now owns 14,006 shares of the company’s stock valued at $778,000 after buying an additional 1,622 shares during the period. Institutional investors and hedge funds own 85.79% of the company’s stock.

CDK Global Inc. (NASDAQ:CDK) opened at 55.89 on Monday. CDK Global Inc. has a 52 week low of $39.67 and a 52 week high of $60.09. The company has a market capitalization of $8.36 billion, a PE ratio of 33.93 and a beta of 0.70. The stock’s 50 day moving average is $55.71 and its 200 day moving average is $55.66.

CDK Global (NASDAQ:CDK) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.07. The firm earned $550.70 million during the quarter, compared to analyst estimates of $538.63 million. CDK Global had a return on equity of 59.26% and a net margin of 11.96%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.38 earnings per share. Analysts predict that CDK Global Inc. will post $2.34 EPS for the current fiscal year.

Several analysts have commented on CDK shares. Zacks Investment Research downgraded shares of CDK Global from a “buy” rating to a “hold” rating in a report on Friday, August 12th. William Blair started coverage on shares of CDK Global in a report on Wednesday, October 12th. They set a “market perform” rating on the stock. Finally, TheStreet upgraded shares of CDK Global from a “hold” rating to a “buy” rating in a report on Wednesday, November 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus 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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