Commerce Bank Sells 598 Shares of CDK Global Inc. (CDK)
Commerce Bank decreased its position in CDK Global Inc. (NASDAQ:CDK) by 2.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,939 shares of the company’s stock after selling 598 shares during the period. Commerce Bank’s holdings in CDK Global were worth $1,488,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. WFG Advisors LP increased its stake in CDK Global by 0.8% in the second quarter. WFG Advisors LP now owns 1,803 shares of the company’s stock worth $100,000 after buying an additional 15 shares in the last quarter. Van ECK Associates Corp increased its stake in CDK Global by 37.5% in the second quarter. Van ECK Associates Corp now owns 2,087 shares of the company’s stock worth $116,000 after buying an additional 569 shares in the last quarter. M&R Capital Management Inc. bought a new stake in CDK Global during the second quarter worth approximately $182,000. Strs Ohio increased its stake in CDK Global by 21.7% in the second quarter. Strs Ohio now owns 3,394 shares of the company’s stock worth $188,000 after buying an additional 606 shares in the last quarter. Finally, Point72 Asia Hong Kong Ltd bought a new stake in CDK Global during the second quarter worth approximately $196,000. Institutional investors own 83.09% of the company’s stock.
CDK Global Inc. (NASDAQ:CDK) traded down 0.44% on Tuesday, hitting $58.65. The stock had a trading volume of 739,523 shares. CDK Global Inc. has a 52 week low of $39.67 and a 52 week high of $60.09. The stock has a market capitalization of $8.77 billion, a price-to-earnings ratio of 35.61 and a beta of 0.70. The company has a 50-day moving average price of $55.91 and a 200-day moving average price of $56.42.
CDK Global (NASDAQ:CDK) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.07. CDK Global had a return on equity of 59.26% and a net margin of 11.96%. The company had revenue of $550.70 million for the quarter, compared to the consensus estimate of $538.63 million. During the same quarter last year, the business posted $0.38 EPS. CDK Global’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities research analysts anticipate that CDK Global Inc. will post $2.34 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Tuesday, December 20th will be issued a dividend of $0.14 per share. This is an increase from CDK Global’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Friday, December 16th. This represents a $0.56 annualized dividend and a dividend yield of 0.95%. CDK Global’s dividend payout ratio (DPR) is 32.73%.
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A number of research firms recently commented on CDK. Zacks Investment Research upgraded CDK Global from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a report on Friday, November 4th. TheStreet raised CDK Global from a “hold” rating to a “buy” rating in a research note on Wednesday, November 2nd. Finally, William Blair assumed coverage on CDK Global in a research note on Wednesday, October 12th. They issued a “market perform” rating for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $55.75.
CDK Global Company Profile
CDK Global, Inc is a provider of integrated information technology and digital marketing/advertising solutions to the automotive retail industry. The Company’s segments are Automotive Retail North America (ARNA), Automotive Retail International (ARI) and Digital Marketing (DM). The Company’s solutions automate workflow processes from pre-sale targeted advertising and marketing campaigns to the sale, financing, insurance, parts supply, and repair and maintenance of vehicles.
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