Boys Arnold & Co. Inc. Decreases Stake in CDK Global Inc (CDK)

Boys Arnold & Co. Inc. lowered its stake in shares of CDK Global Inc (NASDAQ:CDK) by 2.1% during the first quarter, Holdings Channel reports. The institutional investor owned 6,201 shares of the software maker’s stock after selling 132 shares during the period. Boys Arnold & Co. Inc.’s holdings in CDK Global were worth $403,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. FineMark National Bank & Trust raised its stake in CDK Global by 180.7% in the third quarter. FineMark National Bank & Trust now owns 1,864 shares of the software maker’s stock valued at $107,000 after buying an additional 1,200 shares in the last quarter. Woodmont Investment Counsel LLC purchased a new stake in shares of CDK Global during the third quarter valued at approximately $116,000. Pinnacle Bank purchased a new stake in shares of CDK Global during the first quarter valued at approximately $137,000. M&R Capital Management Inc. increased its stake in shares of CDK Global by 2.1% in the fourth quarter. M&R Capital Management Inc. now owns 3,321 shares of the software maker’s stock valued at $198,000 after buying an additional 67 shares during the period. Finally, Group One Trading L.P. increased its stake in shares of CDK Global by 658.8% in the fourth quarter. Group One Trading L.P. now owns 3,347 shares of the software maker’s stock valued at $200,000 after buying an additional 3,946 shares during the period. 82.92% of the stock is owned by institutional investors and hedge funds.

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

Shares of CDK Global Inc (NASDAQ:CDK) traded down 0.438% during midday trading on Thursday, hitting $64.725. 470,767 shares of the company traded hands. The stock’s 50-day moving average is $65.39 and its 200 day moving average is $60.92. The stock has a market capitalization of $9.39 billion, a P/E ratio of 36.713 and a beta of 0.72. CDK Global Inc has a 12-month low of $45.21 and a 12-month high of $67.49.

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

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Several equities research analysts recently commented on CDK shares. Zacks Investment Research downgraded shares of CDK Global from a “buy” rating to a “hold” rating in a research report on Tuesday, January 3rd. Morgan Stanley upgraded 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. Finally, TheStreet downgraded shares of CDK Global from a “b-” rating to a “d+” rating in a research report on Thursday, February 2nd.

In other news, Director Stephen A. Miles sold 9,197 shares of the business’s stock in a transaction 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 sale, the director now owns 30,707 shares of the company’s stock, valued at $2,041,094.29. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.34% of the company’s stock.

About CDK Global

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

Want to see what other hedge funds are holding CDK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CDK Global Inc (NASDAQ:CDK).

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