Joseph A. Tautges Acquires 7,900 Shares of CDK Global Inc (CDK) Stock

CDK Global Inc (NASDAQ:CDK) CFO Joseph A. Tautges bought 7,900 shares of the firm’s stock in a transaction that occurred on Friday, November 9th. The stock was acquired at an average cost of $50.68 per share, with a total value of $400,372.00. Following the transaction, the chief financial officer now owns 25,594 shares of the company’s stock, valued at approximately $1,297,103.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

CDK stock traded up $0.72 during trading hours on Tuesday, reaching $50.51. The stock had a trading volume of 1,046,825 shares, compared to its average volume of 1,129,040. The stock has a market cap of $6.54 billion, a P/E ratio of 16.62, a P/E/G ratio of 1.41 and a beta of 0.76. CDK Global Inc has a fifty-two week low of $49.74 and a fifty-two week high of $76.04.

CDK Global (NASDAQ:CDK) last announced its quarterly earnings results on Wednesday, November 7th. The software maker reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.06. The firm had revenue of $554.50 million during the quarter, compared to analysts’ expectations of $560.52 million. CDK Global had a net margin of 17.23% and a negative return on equity of 173.86%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.68 earnings per share. On average, research analysts expect that CDK Global Inc will post 3.6 EPS for the current fiscal year.

A number of analysts have commented on CDK shares. ValuEngine cut shares of CDK Global from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. BidaskClub cut shares of CDK Global from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 2nd. Barrington Research reiterated a “buy” rating and issued a $80.00 price target on shares of CDK Global in a research note on Monday, August 13th. Morgan Stanley cut their price target on shares of CDK Global from $75.00 to $68.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 15th. Finally, Zacks Investment Research cut shares of CDK Global from a “hold” rating to a “sell” rating in a research note on Monday, August 20th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. CDK Global currently has a consensus rating of “Hold” and an average price target of $72.20.

A number of hedge funds have recently made changes to their positions in CDK. Boston Partners acquired a new stake in shares of CDK Global during the 2nd quarter worth about $156,134,000. Senator Investment Group LP lifted its stake in shares of CDK Global by 43.1% during the 2nd quarter. Senator Investment Group LP now owns 3,005,000 shares of the software maker’s stock worth $195,475,000 after buying an additional 905,000 shares during the last quarter. FMR LLC lifted its stake in shares of CDK Global by 35.1% during the 2nd quarter. FMR LLC now owns 2,846,088 shares of the software maker’s stock worth $185,138,000 after buying an additional 739,661 shares during the last quarter. Clarkston Capital Partners LLC acquired a new stake in shares of CDK Global during the 3rd quarter worth about $43,048,000. Finally, William Blair Investment Management LLC acquired a new stake in shares of CDK Global during the 3rd quarter worth about $42,432,000. Hedge funds and other institutional investors own 82.88% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Joseph A. Tautges Acquires 7,900 Shares of CDK Global Inc (CDK) Stock” was originally published by WKRB News and is the sole property of of WKRB News. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright law. The original version of this news story can be read at https://www.wkrb13.com/2018/11/14/joseph-a-tautges-acquires-7900-shares-of-cdk-global-inc-cdk-stock.html.

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.

Further Reading: Return on Investment (ROI)

Receive News & Ratings for CDK Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CDK Global and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply