CDK Global Inc (CDK) Stake Raised by Ironwood Investment Counsel LLC

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Ironwood Investment Counsel LLC grew its stake in CDK Global Inc (NASDAQ:CDK) by 7.3% during the first quarter, HoldingsChannel reports. The firm owned 9,793 shares of the software maker’s stock after purchasing an additional 667 shares during the period. Ironwood Investment Counsel LLC’s holdings in CDK Global were worth $576,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Whittier Trust Co. raised its stake in CDK Global by 3.1% during the fourth quarter. Whittier Trust Co. now owns 6,326 shares of the software maker’s stock worth $303,000 after acquiring an additional 192 shares during the period. Aurora Investment Counsel raised its stake in CDK Global by 0.6% during the first quarter. Aurora Investment Counsel now owns 35,186 shares of the software maker’s stock worth $2,070,000 after acquiring an additional 206 shares during the period. Cardinal Capital Management raised its stake in CDK Global by 1.2% during the first quarter. Cardinal Capital Management now owns 18,524 shares of the software maker’s stock worth $1,089,000 after acquiring an additional 213 shares during the period. Financial Advocates Investment Management raised its stake in CDK Global by 27.6% during the fourth quarter. Financial Advocates Investment Management now owns 1,045 shares of the software maker’s stock worth $183,000 after acquiring an additional 226 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its stake in CDK Global by 24.3% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,442 shares of the software maker’s stock worth $69,000 after acquiring an additional 282 shares during the period. Institutional investors and hedge funds own 82.20% of the company’s stock.

NASDAQ CDK traded up $0.56 on Friday, hitting $55.91. The stock had a trading volume of 9,442 shares, compared to its average volume of 1,053,225. CDK Global Inc has a one year low of $44.01 and a one year high of $67.97. The stock has a market cap of $6.90 billion, a price-to-earnings ratio of 18.44 and a beta of 0.71.

CDK Global (NASDAQ:CDK) last posted its earnings results on Tuesday, April 30th. The software maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.90 by $0.08. CDK Global had a net margin of 16.34% and a negative return on equity of 113.53%. The firm had revenue of $602.10 million during the quarter, compared to analysts’ expectations of $596.47 million. During the same quarter in the prior year, the firm earned $0.85 EPS. As a group, equities research analysts anticipate that CDK Global Inc will post 3.64 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Monday, June 3rd will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Friday, May 31st. CDK Global’s dividend payout ratio (DPR) is 19.74%.

Several research firms have commented on CDK. Zacks Investment Research cut shares of CDK Global from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th. BidaskClub upgraded shares of CDK Global from a “hold” rating to a “buy” rating in a research report on Tuesday, April 16th. Barrington Research restated a “buy” rating on shares of CDK Global in a research report on Monday. ValuEngine cut shares of CDK Global from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Oppenheimer set a $67.00 target price on shares of CDK Global and gave the stock a “buy” rating in a research report on Tuesday, February 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $67.25.

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CDK Global Company Profile

CDK Global, Inc provides software and technology solutions for automotive retailers in the United States and internationally. The company operates through Retail Solutions North America, Advertising North America, and CDK International segments. The company offers Dealer Management System (DMS), a portfolio of layered software applications and services for automotive retailers, original equipment manufacturers (OEMs), consumers, and other industry participants manage the acquisition, sale, financing, insuring, parts supply, and repair and maintenance of vehicles.

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

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