Wendell David Associates Inc. Sells 727 Shares of CDK Global Inc (CDK)

Wendell David Associates Inc. lowered its position in CDK Global Inc (NASDAQ:CDK) by 2.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 31,548 shares of the software maker’s stock after selling 727 shares during the quarter. Wendell David Associates Inc.’s holdings in CDK Global were worth $1,856,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in CDK Global by 3.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,434,421 shares of the software maker’s stock worth $152,298,000 after buying an additional 90,332 shares in the last quarter. Martingale Asset Management L P grew its position in CDK Global by 6.6% in the third quarter. Martingale Asset Management L P now owns 536,357 shares of the software maker’s stock worth $33,555,000 after acquiring an additional 32,980 shares during the period. Dimensional Fund Advisors LP grew its position in CDK Global by 25.4% in the third quarter. Dimensional Fund Advisors LP now owns 547,145 shares of the software maker’s stock worth $34,228,000 after acquiring an additional 110,901 shares during the period. JPMorgan Chase & Co. grew its position in CDK Global by 67.6% in the third quarter. JPMorgan Chase & Co. now owns 443,912 shares of the software maker’s stock worth $27,771,000 after acquiring an additional 178,983 shares during the period. Finally, Riverhead Capital Management LLC grew its position in CDK Global by 16.8% in the third quarter. Riverhead Capital Management LLC now owns 11,790 shares of the software maker’s stock worth $738,000 after acquiring an additional 1,700 shares during the period. 81.77% of the stock is owned by institutional investors.

NASDAQ:CDK traded up $0.18 during trading hours on Thursday, hitting $58.69. The company’s stock had a trading volume of 12,993 shares, compared to its average volume of 862,468. The firm has a market capitalization of $7.27 billion, a PE ratio of 19.31 and a beta of 0.72. CDK Global Inc has a 52-week low of $44.01 and a 52-week high of $67.97.

CDK Global (NASDAQ:CDK) last issued its quarterly earnings data on Tuesday, February 5th. The software maker reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.12. The company had revenue of $590.40 million for the quarter, compared to analyst estimates of $578.91 million. CDK Global had a negative return on equity of 135.00% and a net margin of 16.36%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.87 earnings per share. On average, equities research analysts anticipate that CDK Global Inc will post 3.64 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 1st were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.02%. The ex-dividend date was Thursday, February 28th. CDK Global’s payout ratio is presently 19.74%.

CDK has been the topic of several analyst reports. BidaskClub upgraded CDK Global from a “hold” rating to a “buy” rating in a research note on Wednesday, February 13th. ValuEngine upgraded CDK Global from a “sell” rating to a “hold” rating in a research note on Monday, March 25th. Zacks Investment Research upgraded CDK Global from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Friday, February 8th. Finally, Oppenheimer set a $67.00 price objective on CDK Global and gave the company a “buy” rating in a research note on Tuesday, February 5th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. CDK Global currently has an average rating of “Hold” and a consensus target price of $67.25.

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CDK Global Company Profile

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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Institutional Ownership by Quarter for CDK Global (NASDAQ:CDK)

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