Ledyard National Bank Cuts Stake in CDK Global Inc (CDK)

Ledyard National Bank decreased its position in shares of CDK Global Inc (NASDAQ:CDK) by 3.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,229 shares of the software maker’s stock after selling 173 shares during the period. Ledyard National Bank’s holdings in CDK Global were worth $340,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Credit Suisse AG raised its stake in shares of CDK Global by 0.9% in the third quarter. Credit Suisse AG now owns 4,054,786 shares of the software maker’s stock worth $232,582,000 after buying an additional 38,055 shares during the last quarter. Iridian Asset Management LLC CT raised its stake in shares of CDK Global by 19.5% in the fourth quarter. Iridian Asset Management LLC CT now owns 3,625,090 shares of the software maker’s stock worth $216,382,000 after buying an additional 592,390 shares during the last quarter. Southpoint Capital Advisors LP raised its stake in shares of CDK Global by 17.4% in the fourth quarter. Southpoint Capital Advisors LP now owns 2,400,000 shares of the software maker’s stock worth $143,256,000 after buying an additional 355,398 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of CDK Global by 4.1% in the third quarter. Principal Financial Group Inc. now owns 2,365,159 shares of the software maker’s stock worth $135,666,000 after buying an additional 93,333 shares during the last quarter. Finally, FMR LLC raised its stake in shares of CDK Global by 32.7% in the fourth quarter. FMR LLC now owns 1,956,615 shares of the software maker’s stock worth $116,790,000 after buying an additional 481,839 shares during the last quarter. 82.92% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of CDK Global Inc (NASDAQ:CDK) traded down 0.26% on Thursday, reaching $64.84. 413,184 shares of the company were exchanged. The company’s 50-day moving average is $65.39 and its 200-day moving average is $60.92. CDK Global Inc has a 52 week low of $45.21 and a 52 week high of $67.49. The company has a market capitalization of $9.40 billion, a price-to-earnings ratio of 36.78 and a beta of 0.72.

CDK Global (NASDAQ:CDK) last announced its quarterly earnings data on Thursday, February 2nd. The software maker reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.08. The firm earned $547.80 million during the quarter, compared to analyst estimates of $545.74 million. CDK Global had a net margin of 12.47% and a return on equity of 83.46%. CDK Global’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the firm posted $0.43 EPS. On average, equities analysts expect that CDK Global Inc will post $2.37 EPS for the current fiscal year.

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CDK has been the subject of a number of recent research reports. Morgan Stanley raised shares of CDK Global from an “underweight” rating to an “equal weight” rating and set a $70.00 price target for the company in a research report on Friday, February 3rd. TheStreet cut shares of CDK Global from a “b-” rating to a “d+” rating in a research report on Thursday, February 2nd. Finally, Zacks Investment Research cut shares of CDK Global from a “buy” rating to a “hold” rating in a research report on Monday, February 27th.

In related news, Director Stephen A. Miles sold 9,197 shares of the stock in a transaction that occurred on Friday, March 10th. The shares were sold at an average price of $66.47, for a total value of $611,324.59. Following the completion of the transaction, the director now directly owns 30,707 shares of the company’s stock, valued at approximately $2,041,094.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.34% of the company’s stock.

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.

5 Day Chart for NASDAQ:CDK

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