Crossmark Global Holdings Inc. cut its position in shares of CDK Global Inc (NASDAQ:CDK) by 7.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,437 shares of the software maker’s stock after selling 942 shares during the period. Crossmark Global Holdings Inc.’s holdings in CDK Global were worth $595,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CX Institutional bought a new stake in shares of CDK Global during the fourth quarter valued at approximately $27,000. WealthTrust Fairport LLC bought a new stake in shares of CDK Global during the third quarter valued at approximately $104,000. Steward Partners Investment Advisory LLC bought a new stake in shares of CDK Global during the third quarter valued at approximately $179,000. Polaris Greystone Financial Group LLC bought a new stake in shares of CDK Global during the third quarter valued at approximately $186,000. Finally, Quantamental Technologies LLC bought a new stake in shares of CDK Global during the fourth quarter valued at approximately $166,000. Institutional investors and hedge funds own 82.05% of the company’s stock.
Shares of NASDAQ:CDK opened at $56.50 on Thursday. CDK Global Inc has a fifty-two week low of $44.01 and a fifty-two week high of $71.71. The firm has a market capitalization of $7.07 billion, a price-to-earnings ratio of 18.59, a P/E/G ratio of 1.52 and a beta of 0.65.
CDK Global (NASDAQ:CDK) last announced its quarterly earnings results on Tuesday, February 5th. The software maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.12. CDK Global had a negative return on equity of 135.00% and a net margin of 16.36%. The firm had revenue of $590.40 million for the quarter, compared to analysts’ expectations of $578.91 million. During the same period in the prior year, the business posted $0.87 earnings per share. The business’s revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts anticipate that CDK Global Inc will post 3.64 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 1st will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Thursday, February 28th. CDK Global’s dividend payout ratio (DPR) is 19.74%.
CDK has been the topic of a number of research reports. Morgan Stanley set a $62.00 price objective on CDK Global and gave the company a “hold” rating in a research report on Thursday, November 8th. Zacks Investment Research upgraded CDK Global from a “sell” rating to a “hold” rating in a research report on Friday, January 11th. Oppenheimer set a $67.00 price objective on CDK Global and gave the company a “buy” rating in a research report on Tuesday, February 5th. Barrington Research set a $80.00 price objective on CDK Global and gave the company a “buy” rating in a research report on Tuesday, November 13th. Finally, BidaskClub upgraded CDK Global from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 24th. 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 company. The stock currently has an average rating of “Hold” and an average target price of $67.25.
In related news, insider Neil Packham purchased 588 shares of the stock in a transaction on Friday, December 14th. The shares were purchased at an average cost of $47.76 per share, for a total transaction of $28,082.88. Following the completion of the transaction, the insider now directly owns 588 shares of the company’s stock, valued at approximately $28,082.88. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.50% of the company’s stock.
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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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