Verde Servicos Internacionais S.A. reduced its stake in CDK Global Inc (NASDAQ:CDK) by 14.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,226 shares of the software maker’s stock after selling 4,629 shares during the period. Verde Servicos Internacionais S.A.’s holdings in CDK Global were worth $1,836,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of CDK. WealthTrust Fairport LLC acquired a new stake in shares of CDK Global in the 1st quarter worth approximately $105,000. Wagner Wealth Management LLC acquired a new stake in CDK Global during the fourth quarter valued at approximately $112,000. Cerebellum GP LLC lifted its stake in CDK Global by 149.8% during the second quarter. Cerebellum GP LLC now owns 2,713 shares of the software maker’s stock valued at $176,000 after purchasing an additional 1,627 shares during the last quarter. Putnam FL Investment Management Co. acquired a new stake in CDK Global during the first quarter valued at approximately $210,000. Finally, Northeast Financial Consultants Inc acquired a new stake in CDK Global during the fourth quarter valued at approximately $217,000. 84.08% of the stock is owned by institutional investors.
CDK stock opened at $66.00 on Friday. CDK Global Inc has a 12 month low of $60.28 and a 12 month high of $76.04. The company has a market cap of $8.58 billion, a P/E ratio of 22.11, a price-to-earnings-growth ratio of 1.60 and a beta of 0.75. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of -9.65.
The company also recently declared a quarterly dividend, which was paid on Friday, June 29th. Stockholders of record on Tuesday, June 19th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, June 18th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.91%. CDK Global’s dividend payout ratio is currently 24.69%.
Several analysts recently commented on the stock. Zacks Investment Research raised shares of CDK Global from a “sell” rating to a “hold” rating in a research note on Tuesday, June 26th. BidaskClub raised shares of CDK Global from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 16th. ValuEngine raised shares of CDK Global from a “sell” rating to a “hold” rating in a research note on Tuesday, May 29th. Barrington Research raised shares of CDK Global from a “market perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research note on Tuesday, May 29th. Finally, Morgan Stanley cut their target price on shares of CDK Global from $77.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, April 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $75.80.
CDK Global Company Profile
CDK Global, Inc provides integrated information technology and digital marketing solutions to the automotive retail and other industries worldwide. The company operates through Retail Solutions North America, Advertising North America, and CDK International segments. It offers technology-based solutions, including automotive Website platforms; and advertising solutions comprising the management of digital advertising spend for original equipment manufacturers and automotive retailers.
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