Pinnacle Financial Partners Inc. bought a new stake in shares of CDK Global, Inc. (NASDAQ:CDK) during the second quarter, Holdings Channel reports. The institutional investor bought 3,190 shares of the software maker’s stock, valued at approximately $198,000.
A number of other institutional investors also recently added to or reduced their stakes in CDK. Alpha Windward LLC increased its position in CDK Global by 2.3% in the second quarter. Alpha Windward LLC now owns 1,618 shares of the software maker’s stock valued at $100,000 after buying an additional 36 shares during the period. TrimTabs Asset Management LLC increased its position in CDK Global by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 1,837 shares of the software maker’s stock valued at $119,000 after buying an additional 864 shares during the period. Bronfman E.L. Rothschild L.P. increased its position in CDK Global by 1.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,979 shares of the software maker’s stock valued at $129,000 after buying an additional 23 shares during the period. Acrospire Investment Management LLC increased its position in CDK Global by 17.6% in the first quarter. Acrospire Investment Management LLC now owns 2,000 shares of the software maker’s stock valued at $130,000 after buying an additional 300 shares during the period. Finally, Pinnacle Bank bought a new position in CDK Global during the first quarter valued at $137,000. Institutional investors own 81.37% of the company’s stock.
CDK Global, Inc. (CDK) opened at 61.57 on Tuesday. The stock has a 50 day moving average price of $63.19 and a 200 day moving average price of $63.74. CDK Global, Inc. has a 12 month low of $53.46 and a 12 month high of $67.49. The stock has a market capitalization of $8.63 billion, a P/E ratio of 30.94 and a beta of 0.74.
CDK Global (NASDAQ:CDK) last posted its earnings results on Tuesday, August 1st. The software maker reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.01. CDK Global had a return on equity of 204.80% and a net margin of 13.31%. The firm had revenue of $565.40 million for the quarter, compared to analysts’ expectations of $556.68 million. During the same period last year, the firm earned $0.49 EPS. The company’s quarterly revenue was up 4.3% on a year-over-year basis. Equities analysts predict that CDK Global, Inc. will post $2.95 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 11th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Friday, September 8th. CDK Global’s dividend payout ratio (DPR) is presently 28.00%.
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Several equities analysts recently weighed in on CDK shares. BidaskClub upgraded CDK Global from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research upgraded CDK Global from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Thursday, May 4th. TheStreet upgraded CDK Global from a “d+” rating to a “c” rating in a research report on Monday, May 8th. Wells Fargo & Company upgraded CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a research report on Wednesday, June 21st. Finally, Evercore ISI upgraded CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 target price on the stock in a research report on Monday, July 10th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $71.75.
In other CDK Global news, insider Brian P. Macdonald bought 5,000 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were purchased at an average cost of $60.47 per share, for a total transaction of $302,350.00. Following the transaction, the insider now directly owns 96,877 shares of the company’s stock, valued at $5,858,152.19. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 0.34% of the stock is owned by company insiders.
CDK Global Company Profile
CDK Global, Inc provides integrated information technology and digital marketing solutions. The Company’s segments include Retail Solutions North America, Advertising North America and CDK International. Through its Retail Solutions North America segment, the Company provides technology-based solutions, including automotive Website platforms, that help automotive retailers, original equipment manufacturers (OEMs) and other industry participants manage the acquisition, sale, financing, insuring, parts supply, repair and maintenance of vehicles.
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