Banbury Partners LLC Sells 298,777 Shares of CDK Global, Inc. (CDK)

Banbury Partners LLC lessened its holdings in CDK Global, Inc. (NASDAQ:CDK) by 59.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 203,109 shares of the software maker’s stock after selling 298,777 shares during the quarter. CDK Global makes up approximately 3.1% of Banbury Partners LLC’s holdings, making the stock its 15th biggest holding. Banbury Partners LLC owned about 0.15% of CDK Global worth $12,814,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Macquarie Group Ltd. bought a new position in shares of CDK Global in the 3rd quarter valued at about $145,000. D.A. Davidson & CO. boosted its stake in CDK Global by 5.6% during the 2nd quarter. D.A. Davidson & CO. now owns 3,130 shares of the software maker’s stock worth $194,000 after acquiring an additional 167 shares during the last quarter. Pinnacle Financial Partners Inc. bought a new position in CDK Global during the 2nd quarter worth approximately $198,000. TrimTabs Asset Management LLC boosted its stake in CDK Global by 105.0% during the 2nd quarter. TrimTabs Asset Management LLC now owns 3,766 shares of the software maker’s stock worth $234,000 after acquiring an additional 1,929 shares during the last quarter. Finally, Associated Banc Corp boosted its stake in CDK Global by 4.7% during the 2nd quarter. Associated Banc Corp now owns 3,965 shares of the software maker’s stock worth $246,000 after acquiring an additional 179 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors.

CDK Global, Inc. (NASDAQ CDK) opened at $69.30 on Thursday. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 297.80. CDK Global, Inc. has a one year low of $57.92 and a one year high of $69.86. The firm has a market cap of $9,564.39, a P/E ratio of 27.59, a price-to-earnings-growth ratio of 1.56 and a beta of 0.75.

CDK Global (NASDAQ:CDK) last announced its quarterly earnings results on Tuesday, October 31st. The software maker reported $0.68 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.68. CDK Global had a net margin of 13.42% and a return on equity of 515.77%. The firm had revenue of $565.70 million for the quarter, compared to analyst estimates of $569.28 million. During the same quarter in the previous year, the firm posted $0.60 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. equities research analysts expect that CDK Global, Inc. will post 2.97 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.60 dividend on an annualized basis and a yield of 0.87%. This is a positive change from CDK Global’s previous quarterly dividend of $0.14. CDK Global’s payout ratio is presently 29.13%.

In other CDK Global news, VP Jennifer A. Williams sold 1,984 shares of CDK Global stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $62.58, for a total value of $124,158.72. Following the transaction, the vice president now owns 5,560 shares of the company’s stock, valued at $347,944.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.39% of the company’s stock.

Several research firms recently weighed in on CDK. BidaskClub lowered shares of CDK Global from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. TheStreet raised shares of CDK Global from a “c+” rating to a “b-” rating in a research note on Thursday, October 19th. Zacks Investment Research raised shares of CDK Global from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Tuesday, October 3rd. Finally, Barrington Research set a $75.00 price objective on shares of CDK Global and gave the stock a “buy” rating in a research note on Tuesday, October 31st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $72.60.

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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.

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

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