CDK Global, Inc. (CDK) Short Interest Update
CDK Global, Inc. (NASDAQ:CDK) was the target of a significant increase in short interest in July. As of July 31st, there was short interest totalling 4,005,914 shares, an increase of 59.6% from the July 14th total of 2,509,549 shares. Currently, 2.8% of the shares of the stock are sold short. Based on an average daily volume of 905,211 shares, the short-interest ratio is presently 4.4 days.
CDK Global (CDK) opened at 61.15 on Friday. The firm has a 50-day moving average of $63.27 and a 200-day moving average of $63.71. The company has a market capitalization of $8.73 billion, a PE ratio of 30.73 and a beta of 0.74. CDK Global has a 52 week low of $53.46 and a 52 week high of $67.49.
CDK Global (NASDAQ:CDK) last announced its quarterly earnings results on Tuesday, August 1st. The software maker reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.01. CDK Global had a net margin of 13.31% and a return on equity of 204.80%. The firm had revenue of $565.40 million during the quarter, compared to analysts’ expectations of $556.68 million. During the same period in the prior year, the company posted $0.49 EPS. The company’s revenue was up 4.3% on a year-over-year basis. Equities analysts expect that CDK Global will post $2.95 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Monday, September 11th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Friday, September 8th. CDK Global’s dividend payout ratio (DPR) is currently 28.00%.
A number of analysts recently weighed in on CDK shares. Zacks Investment Research lowered shares of CDK Global from a “buy” rating to a “hold” rating in a report on Tuesday, April 18th. Evercore ISI raised shares of CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 price target for the company in a report on Monday, July 10th. Wells Fargo & Company raised shares of CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 price target for the company in a report on Wednesday, June 21st. TheStreet raised shares of CDK Global from a “d+” rating to a “c” rating in a report on Monday, May 8th. Finally, BidaskClub raised shares of CDK Global from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $71.75.
In related news, insider Brian P. Macdonald purchased 5,000 shares of the stock in a transaction that occurred on Friday, May 26th. The stock was acquired at an average price of $60.47 per share, with a total value of $302,350.00. Following the completion of the acquisition, the insider now directly owns 96,877 shares in the company, valued at approximately $5,858,152.19. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.34% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of CDK Global by 4.0% in the second quarter. BlackRock Inc. now owns 13,718,146 shares of the software maker’s stock valued at $851,347,000 after buying an additional 521,564 shares during the period. Bahl & Gaynor Inc. boosted its position in shares of CDK Global by 4.0% in the second quarter. Bahl & Gaynor Inc. now owns 22,806 shares of the software maker’s stock valued at $1,361,000 after buying an additional 870 shares during the period. Findlay Park Partners LLP boosted its position in shares of CDK Global by 29.0% in the second quarter. Findlay Park Partners LLP now owns 1,000,000 shares of the software maker’s stock valued at $62,060,000 after buying an additional 225,000 shares during the period. Ameriprise Financial Inc. boosted its position in shares of CDK Global by 3.2% in the second quarter. Ameriprise Financial Inc. now owns 444,623 shares of the software maker’s stock valued at $27,545,000 after buying an additional 13,857 shares during the period. Finally, Icon Advisers Inc. Co. boosted its position in shares of CDK Global by 507.7% in the second quarter. Icon Advisers Inc. Co. now owns 134,300 shares of the software maker’s stock valued at $8,335,000 after buying an additional 112,200 shares during the period. Hedge funds and other institutional investors own 83.30% of the company’s stock.
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.
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