CDK Global Inc (NASDAQ:CDK) General Counsel Lee J. Brunz sold 500 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $46.10, for a total value of $23,050.00. Following the sale, the general counsel now owns 44,069 shares in the company, valued at $2,031,580.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of CDK traded up $0.70 on Thursday, reaching $47.04. 157,283 shares of the stock traded hands, compared to its average volume of 766,468. The firm has a market cap of $5.68 billion, a price-to-earnings ratio of 14.98, a P/E/G ratio of 1.40 and a beta of 0.90. CDK Global Inc has a 12 month low of $41.50 and a 12 month high of $64.77. The stock’s 50-day moving average price is $45.91 and its 200-day moving average price is $51.98.
CDK Global (NASDAQ:CDK) last released its quarterly earnings data on Tuesday, August 13th. The software maker reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.02. The business had revenue of $488.60 million for the quarter, compared to analysts’ expectations of $585.10 million. CDK Global had a negative return on equity of 90.04% and a net margin of 5.55%. CDK Global’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.87 earnings per share. As a group, equities research analysts anticipate that CDK Global Inc will post 3.19 earnings per share for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CDK. BlackRock Inc. boosted its stake in CDK Global by 9.6% in the 2nd quarter. BlackRock Inc. now owns 14,995,613 shares of the software maker’s stock valued at $741,383,000 after buying an additional 1,313,730 shares in the last quarter. Boston Partners boosted its stake in CDK Global by 6.4% in the second quarter. Boston Partners now owns 3,295,198 shares of the software maker’s stock worth $162,929,000 after purchasing an additional 199,298 shares in the last quarter. Bank of America Corp DE boosted its stake in CDK Global by 19.7% in the second quarter. Bank of America Corp DE now owns 2,033,222 shares of the software maker’s stock worth $100,523,000 after purchasing an additional 335,048 shares in the last quarter. Wells Fargo & Company MN boosted its stake in CDK Global by 8.5% in the first quarter. Wells Fargo & Company MN now owns 1,745,667 shares of the software maker’s stock worth $102,680,000 after purchasing an additional 136,759 shares in the last quarter. Finally, Clarkston Capital Partners LLC lifted its position in shares of CDK Global by 8.8% in the second quarter. Clarkston Capital Partners LLC now owns 1,670,100 shares of the software maker’s stock valued at $82,570,000 after buying an additional 135,110 shares during the last quarter. Institutional investors and hedge funds own 81.35% of the company’s stock.
A number of analysts have recently issued reports on CDK shares. Barrington Research restated a “buy” rating and set a $65.00 price objective on shares of CDK Global in a research report on Monday, August 19th. BidaskClub upgraded CDK Global from a “sell” rating to a “hold” rating in a research report on Friday, September 13th. ValuEngine cut CDK Global from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. Finally, Zacks Investment Research cut CDK Global from a “hold” rating to a “strong sell” rating in a research report on Monday, August 19th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. CDK Global currently has an average rating of “Hold” and an average 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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