SeaCrest Wealth Management LLC Purchases New Position in CDK Global Inc (CDK)

SeaCrest Wealth Management LLC purchased a new position in shares of CDK Global Inc (NASDAQ:CDK) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 4,253 shares of the software maker’s stock, valued at approximately $303,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. HL Financial Services LLC boosted its stake in CDK Global by 6.5% during the third quarter. HL Financial Services LLC now owns 13,335 shares of the software maker’s stock worth $841,000 after buying an additional 813 shares in the last quarter. Commerce Bank boosted its stake in CDK Global by 2.8% during the third quarter. Commerce Bank now owns 34,480 shares of the software maker’s stock worth $2,176,000 after buying an additional 928 shares in the last quarter. Balyasny Asset Management LLC boosted its stake in CDK Global by 3.7% during the second quarter. Balyasny Asset Management LLC now owns 26,040 shares of the software maker’s stock worth $1,616,000 after buying an additional 935 shares in the last quarter. Sei Investments Co. boosted its stake in CDK Global by 11.5% during the third quarter. Sei Investments Co. now owns 11,413 shares of the software maker’s stock worth $719,000 after buying an additional 1,174 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC boosted its stake in CDK Global by 6.8% during the third quarter. Thompson Siegel & Walmsley LLC now owns 20,491 shares of the software maker’s stock worth $1,293,000 after buying an additional 1,300 shares in the last quarter. Hedge funds and other institutional investors own 89.73% of the company’s stock.

CDK Global Inc (CDK) opened at $66.66 on Friday. The stock has a market capitalization of $8,944.10, a price-to-earnings ratio of 24.17, a price-to-earnings-growth ratio of 1.36 and a beta of 0.67. CDK Global Inc has a twelve month low of $59.33 and a twelve month high of $76.04. The company has a debt-to-equity ratio of -11.19, a quick ratio of 1.97 and a current ratio of 1.97.

CDK Global (NASDAQ:CDK) last issued its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.17. The company had revenue of $561.70 million during the quarter, compared to analysts’ expectations of $564.94 million. CDK Global had a negative return on equity of 5,261.95% and a net margin of 14.29%. The business’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the business earned $0.55 earnings per share. equities research analysts anticipate that CDK Global Inc will post 3.26 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 1st will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.90%. CDK Global’s payout ratio is presently 26.55%.

A number of equities research analysts have weighed in on the stock. Wells Fargo & Co reiterated an “outperform” rating and set a $80.00 price target (up previously from $75.00) on shares of CDK Global in a research note on Wednesday, January 31st. Morgan Stanley lifted their price objective on CDK Global from $76.00 to $77.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. Zacks Investment Research raised CDK Global from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a report on Wednesday, January 31st. BidaskClub cut CDK Global from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Finally, Barrington Research set a $75.00 price objective on CDK Global and gave the company a “buy” rating in a report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $76.80.

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About CDK Global

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

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