Vigilant Capital Management LLC Reduces Stock Position in CDK Global Inc (NASDAQ:CDK)

Vigilant Capital Management LLC lowered its holdings in shares of CDK Global Inc (NASDAQ:CDK) by 50.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 816 shares of the software maker’s stock after selling 820 shares during the quarter. Vigilant Capital Management LLC’s holdings in CDK Global were worth $36,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Advisory Services Network LLC raised its position in CDK Global by 4.1% during the 2nd quarter. Advisory Services Network LLC now owns 6,246 shares of the software maker’s stock valued at $259,000 after purchasing an additional 247 shares in the last quarter. First Mercantile Trust Co. raised its position in CDK Global by 8.5% during the 2nd quarter. First Mercantile Trust Co. now owns 4,230 shares of the software maker’s stock valued at $175,000 after purchasing an additional 330 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in CDK Global by 2.2% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 16,004 shares of the software maker’s stock valued at $663,000 after purchasing an additional 337 shares in the last quarter. Arizona State Retirement System raised its position in CDK Global by 1.3% during the 2nd quarter. Arizona State Retirement System now owns 28,300 shares of the software maker’s stock valued at $1,172,000 after purchasing an additional 363 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC raised its position in CDK Global by 5.5% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 7,160 shares of the software maker’s stock valued at $235,000 after purchasing an additional 376 shares in the last quarter. Institutional investors own 82.74% of the company’s stock.

In related news, CAO Jennifer A. Williams sold 1,260 shares of the company’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $43.97, for a total transaction of $55,402.20. Following the transaction, the chief accounting officer now directly owns 6,676 shares of the company’s stock, valued at approximately $293,543.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 1,982 shares of company stock worth $88,757 over the last ninety days. 0.54% of the stock is currently owned by corporate insiders.

A number of equities research analysts have weighed in on CDK shares. Wells Fargo & Company lifted their target price on CDK Global from $50.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. BidaskClub raised CDK Global from a “sell” rating to a “hold” rating in a research report on Friday. Morgan Stanley boosted their price target on CDK Global from $55.00 to $57.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. ValuEngine lowered CDK Global from a “hold” rating to a “sell” rating in a research report on Tuesday, September 1st. Finally, Zacks Investment Research lowered CDK Global from a “hold” rating to a “sell” rating in a research report on Tuesday, October 6th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $57.75.

CDK opened at $45.29 on Friday. The firm has a market cap of $5.50 billion, a price-to-earnings ratio of 26.80 and a beta of 1.36. CDK Global Inc has a 12 month low of $29.12 and a 12 month high of $57.00. The stock has a fifty day moving average price of $44.44 and a 200-day moving average price of $41.47.

CDK Global (NASDAQ:CDK) last released its quarterly earnings results on Tuesday, August 4th. The software maker reported $0.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.16. CDK Global had a negative return on equity of 59.65% and a net margin of 10.59%. The firm had revenue of $449.60 million during the quarter, compared to analyst estimates of $424.40 million. During the same period in the previous year, the company posted $0.88 EPS. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. On average, research analysts forecast that CDK Global Inc will post 2.84 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend was Monday, August 31st. CDK Global’s dividend payout ratio is currently 19.67%.

About CDK Global

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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