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CDK Global Inc (CDK) Short Interest Down 24.0% in June

CDK Global Inc (NASDAQ:CDK) was the target of a large decrease in short interest during the month of June. As of June 15th, there was short interest totalling 3,606,776 shares, a decrease of 24.0% from the May 31st total of 4,743,993 shares. Currently, 2.7% of the company’s stock are short sold. Based on an average trading volume of 1,370,892 shares, the short-interest ratio is currently 2.6 days.

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CDK opened at $65.54 on Friday. The company has a market capitalization of $8.58 billion, a price-to-earnings ratio of 26.97, a price-to-earnings-growth ratio of 2.13 and a beta of 0.75. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of -9.65. CDK Global has a 12-month low of $60.28 and a 12-month high of $76.04.

CDK Global (NASDAQ:CDK) last released its earnings results on Thursday, April 26th. The software maker reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.01. The firm had revenue of $576.60 million for the quarter, compared to analyst estimates of $578.11 million. CDK Global had a negative return on equity of 361.64% and a net margin of 14.99%. The company’s revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 EPS. research analysts expect that CDK Global will post 3.06 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Tuesday, June 19th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Monday, June 18th. CDK Global’s dividend payout ratio (DPR) is currently 24.69%.

CDK has been the topic of a number of analyst reports. Zacks Investment Research lowered CDK Global from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 3rd. Barrington Research raised CDK Global from a “market perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a report on Tuesday, May 29th. ValuEngine raised CDK Global from a “sell” rating to a “hold” rating in a report on Tuesday, May 29th. BidaskClub raised CDK Global from a “strong sell” rating to a “sell” rating in a report on Saturday, June 16th. Finally, Morgan Stanley lowered their price objective on CDK Global from $77.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, April 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. CDK Global currently has a consensus rating of “Hold” and a consensus target price of $75.80.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. LPL Financial LLC lifted its position in shares of CDK Global by 6.7% during the 4th quarter. LPL Financial LLC now owns 11,256 shares of the software maker’s stock worth $802,000 after buying an additional 702 shares during the period. Amalgamated Bank grew its stake in shares of CDK Global by 5.0% during the fourth quarter. Amalgamated Bank now owns 16,201 shares of the software maker’s stock worth $1,155,000 after purchasing an additional 768 shares during the period. BB&T Securities LLC grew its stake in shares of CDK Global by 16.8% during the first quarter. BB&T Securities LLC now owns 5,615 shares of the software maker’s stock worth $355,000 after purchasing an additional 809 shares during the period. Xact Kapitalforvaltning AB grew its stake in shares of CDK Global by 2.9% during the fourth quarter. Xact Kapitalforvaltning AB now owns 31,886 shares of the software maker’s stock worth $2,273,000 after purchasing an additional 889 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in shares of CDK Global by 11.5% during the first quarter. Russell Investments Group Ltd. now owns 9,548 shares of the software maker’s stock worth $604,000 after purchasing an additional 984 shares during the period. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

About CDK Global

CDK Global, Inc provides integrated information technology and digital marketing solutions to the automotive retail and other industries worldwide. The company operates through Retail Solutions North America, Advertising North America, and CDK International segments. It offers technology-based solutions, including automotive Website platforms; and advertising solutions comprising the management of digital advertising spend for original equipment manufacturers and automotive retailers.