Banbury Partners LLC Decreases Holdings in CDK Global, Inc. (NASDAQ:CDK)

Banbury Partners LLC decreased its position in shares of CDK Global, Inc. (NASDAQ:CDK) by 59.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 203,109 shares of the software maker’s stock after selling 298,777 shares during the period. CDK Global makes up about 3.1% of Banbury Partners LLC’s investment portfolio, making the stock its 15th largest position. Banbury Partners LLC owned 0.15% of CDK Global worth $12,814,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Macquarie Group Ltd. purchased a new stake in shares of CDK Global during the third quarter valued at about $145,000. D.A. Davidson & CO. lifted its position in shares of CDK Global by 5.6% during the second quarter. D.A. Davidson & CO. now owns 3,130 shares of the software maker’s stock valued at $194,000 after buying an additional 167 shares during the last quarter. Pinnacle Financial Partners Inc. purchased a new stake in shares of CDK Global during the second quarter valued at about $198,000. TrimTabs Asset Management LLC lifted its position in shares of CDK Global by 105.0% during the second quarter. TrimTabs Asset Management LLC now owns 3,766 shares of the software maker’s stock valued at $234,000 after buying an additional 1,929 shares during the last quarter. Finally, Associated Banc Corp lifted its position in shares of CDK Global by 4.7% during the second quarter. Associated Banc Corp now owns 3,965 shares of the software maker’s stock valued at $246,000 after buying an additional 179 shares during the last quarter. Institutional investors and hedge funds own 87.45% of the company’s stock.

Shares of CDK Global, Inc. (NASDAQ:CDK) traded down $0.69 during midday trading on Friday, hitting $71.28. 708,951 shares of the stock were exchanged, compared to its average volume of 1,070,000. The firm has a market cap of $9,800.00, a PE ratio of 34.60, a price-to-earnings-growth ratio of 1.61 and a beta of 0.78. CDK Global, Inc. has a twelve month low of $58.52 and a twelve month high of $72.25. 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 (NASDAQ:CDK) last issued its quarterly earnings data on Tuesday, October 31st. The software maker reported $0.68 EPS for the quarter, hitting analysts’ consensus estimates of $0.68. CDK Global had a net margin of 13.42% and a return on equity of 515.77%. The business had revenue of $565.70 million for the quarter, compared to analysts’ expectations of $569.28 million. During the same quarter last year, the company earned $0.60 EPS. The business’s revenue was up 2.7% on a year-over-year basis. equities analysts forecast that CDK Global, Inc. will post 2.97 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 1st were given a dividend of $0.15 per share. This is a positive change from CDK Global’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.84%. CDK Global’s dividend payout ratio (DPR) is 29.13%.

Several equities analysts have recently issued reports on CDK shares. Barrington Research set a $75.00 price objective on shares of CDK Global and gave the company a “buy” rating in a report on Tuesday, October 31st. Zacks Investment Research downgraded shares of CDK Global from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. BidaskClub downgraded shares of CDK Global from a “buy” rating to a “hold” rating in a report on Wednesday, September 13th. Finally, TheStreet upgraded shares of CDK Global from a “c+” rating to a “b-” rating in a report on Thursday, October 19th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. CDK Global currently has an average rating of “Buy” and a consensus price target of $72.60.

In other news, VP Jennifer A. Williams sold 1,984 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $62.58, for a total transaction of $124,158.72. Following the transaction, the vice president now owns 5,560 shares in the company, valued at approximately $347,944.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.39% of the company’s stock.

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CDK Global 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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