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.
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.
ILLEGAL ACTIVITY WARNING: This news story was first reported by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this news story on another site, it was illegally stolen and reposted in violation of US and international trademark & copyright law. The correct version of this news story can be accessed at https://sportsperspectives.com/2018/02/10/seacrest-wealth-management-llc-purchases-new-position-in-cdk-global-inc-cdk.html.
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.
Want to see what other hedge funds are holding CDK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CDK Global Inc (NASDAQ:CDK).
Receive News & Ratings for CDK Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CDK Global and related companies with MarketBeat.com's FREE daily email newsletter.