River & Mercantile Asset Management LLP bought a new position in CDK Global Inc (NASDAQ:CDK) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 621 shares of the software maker’s stock, valued at approximately $31,000.
A number of other large investors also recently bought and sold shares of the business. Berman Capital Advisors LLC lifted its stake in shares of CDK Global by 76.0% during the 2nd quarter. Berman Capital Advisors LLC now owns 623 shares of the software maker’s stock valued at $30,000 after buying an additional 269 shares in the last quarter. Cordasco Financial Network purchased a new stake in shares of CDK Global during the 2nd quarter valued at about $33,000. Wealthcare Advisory Partners LLC raised its position in shares of CDK Global by 224.9% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 692 shares of the software maker’s stock valued at $34,000 after buying an additional 479 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of CDK Global during the 2nd quarter valued at about $44,000. Finally, Alpha Windward LLC raised its position in shares of CDK Global by 41.1% during the 2nd quarter. Alpha Windward LLC now owns 965 shares of the software maker’s stock valued at $51,000 after buying an additional 281 shares in the last quarter. 81.35% of the stock is owned by institutional investors and hedge funds.
In other news, General Counsel Lee J. Brunz sold 1,000 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $50.74, for a total transaction of $50,740.00. Following the transaction, the general counsel now directly owns 37,927 shares in the company, valued at $1,924,415.98. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 2,000 shares of company stock worth $95,440. Insiders own 0.50% of the company’s stock.
Shares of CDK stock opened at $46.48 on Friday. The company has a market capitalization of $5.46 billion, a P/E ratio of 12.73, a P/E/G ratio of 1.35 and a beta of 0.92. The company’s 50-day simple moving average is $45.44 and its two-hundred day simple moving average is $50.70. CDK Global Inc has a one year low of $41.50 and a one year high of $63.90.
CDK Global (NASDAQ:CDK) last issued its earnings results on Tuesday, August 13th. The software maker reported $0.88 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.02. CDK Global had a net margin of 5.55% and a negative return on equity of 90.04%. The business had revenue of $488.60 million for the quarter, compared to the consensus estimate of $585.10 million. During the same period in the prior year, the firm earned $0.87 EPS. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, analysts expect that CDK Global Inc will post 3.19 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.29%. CDK Global’s dividend payout ratio is presently 19.11%.
Several equities analysts recently commented on CDK shares. Zacks Investment Research downgraded shares of CDK Global from a “hold” rating to a “strong sell” rating in a report on Monday, August 19th. ValuEngine upgraded shares of CDK Global from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. BidaskClub upgraded shares of CDK Global from a “sell” rating to a “hold” rating in a report on Friday, September 13th. Finally, Barrington Research restated a “buy” rating and issued a $65.00 target price on shares of CDK Global in a research note on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. CDK Global currently has a consensus rating of “Hold” and a consensus target price of $64.00.
About CDK Global
CDK Global, Inc provides software and technology solutions for automotive retailers in the United States and internationally. The company operates through Retail Solutions North America, Advertising North America, and CDK International segments. The company offers Dealer Management System (DMS), a portfolio of layered software applications and services for automotive retailers, original equipment manufacturers (OEMs), consumers, and other industry participants manage the acquisition, sale, financing, insuring, parts supply, and repair and maintenance of vehicles.
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