SouthState Corp Has $120,000 Stock Holdings in CDK Global, Inc. (NASDAQ:CDK)

SouthState Corp decreased its holdings in shares of CDK Global, Inc. (NASDAQ:CDKGet Rating) by 39.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,451 shares of the software maker’s stock after selling 1,607 shares during the period. SouthState Corp’s holdings in CDK Global were worth $120,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CDK. Kathleen S. Wright Associates Inc. acquired a new position in CDK Global during the fourth quarter worth $29,000. First Command Bank acquired a new position in CDK Global during the first quarter worth $29,000. Covestor Ltd purchased a new stake in shares of CDK Global in the fourth quarter valued at about $38,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of CDK Global by 44.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 923 shares of the software maker’s stock valued at $39,000 after purchasing an additional 283 shares during the last quarter. Finally, CWM LLC purchased a new stake in shares of CDK Global in the fourth quarter valued at about $51,000. Institutional investors and hedge funds own 92.85% of the company’s stock.

Wall Street Analyst Weigh In

Separately, began coverage on shares of CDK Global in a report on Monday, August 1st. They issued a “hold” rating for the company.

CDK Global Stock Performance

Shares of CDK stock opened at $54.76 on Friday. The firm has a 50-day moving average of $54.66 and a 200-day moving average of $50.90. The company has a market cap of $6.39 billion, a P/E ratio of 26.20 and a beta of 0.95. The company has a debt-to-equity ratio of 3.98, a current ratio of 1.25 and a quick ratio of 1.25. CDK Global, Inc. has a one year low of $38.53 and a one year high of $55.12.

CDK Global (NASDAQ:CDKGet Rating) last announced its earnings results on Thursday, May 5th. The software maker reported $0.67 EPS for the quarter, beating the consensus estimate of $0.64 by $0.03. The company had revenue of $459.70 million during the quarter, compared to the consensus estimate of $457.88 million. CDK Global had a net margin of 14.28% and a return on equity of 67.84%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.69 earnings per share. Equities research analysts forecast that CDK Global, Inc. will post 2.53 EPS for the current fiscal year.

CDK Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 29th. Investors of record on Monday, June 20th were given a dividend of $0.15 per share. The ex-dividend date was Thursday, June 16th. This represents a $0.60 annualized dividend and a yield of 1.10%. CDK Global’s payout ratio is currently 28.71%.

About CDK Global

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CDK Global, Inc, together with its subsidiaries, provides integrated data and technology solutions to the automotive, heavy truck, recreation, and heavy equipment industries in the United States and internationally. It offers subscription-based software and technology solutions to automotive retailers, as well as to retailers and manufacturers of heavy trucks, construction and agricultural equipment, motorcycles, boats, and other marine and recreational vehicles.

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

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