Bank of Montreal Can lessened its holdings in CDK Global Inc (NASDAQ:CDK) by 17.6% during the first quarter, Holdings Channel reports. The institutional investor owned 20,003 shares of the software maker’s stock after selling 4,282 shares during the quarter. Bank of Montreal Can’s holdings in CDK Global were worth $1,178,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CDK. Bruderman Asset Management LLC lifted its stake in CDK Global by 722.7% in the fourth quarter. Bruderman Asset Management LLC now owns 543 shares of the software maker’s stock valued at $26,000 after purchasing an additional 477 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in CDK Global in the first quarter valued at approximately $33,000. Essex Investment Management Co. LLC purchased a new position in CDK Global in the fourth quarter valued at approximately $30,000. Laurel Wealth Advisors LLC purchased a new position in CDK Global in the fourth quarter valued at approximately $32,000. Finally, Liberty Wealth Management LLC purchased a new position in CDK Global in the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 83.36% of the company’s stock.

Shares of CDK stock opened at $50.47 on Friday. CDK Global Inc has a 1 year low of $44.01 and a 1 year high of $67.97. The firm has a market cap of $6.27 billion, a price-to-earnings ratio of 16.60, a price-to-earnings-growth ratio of 1.42 and a beta of 0.71.

CDK Global (NASDAQ:CDK) last issued its earnings results on Tuesday, April 30th. The software maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.08. CDK Global had a net margin of 16.34% and a negative return on equity of 113.53%. The business had revenue of $602.10 million for the quarter, compared to analysts’ expectations of $596.47 million. During the same quarter in the previous year, the firm posted $0.85 EPS. On average, equities research analysts forecast that CDK Global Inc will post 3.63 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, May 31st. This represents a $0.60 dividend on an annualized basis and a yield of 1.19%. CDK Global’s payout ratio is 19.74%.

Several equities analysts recently commented on the company. Barrington Research reiterated a “buy” rating on shares of CDK Global in a research note on Monday, April 29th. BidaskClub upgraded CDK Global from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th. Zacks Investment Research downgraded CDK Global from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. Finally, ValuEngine upgraded CDK Global from a “sell” rating to a “hold” rating in a research note on Monday, March 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $67.75.

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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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