CDK Global Inc. (CDK) Earns Market Perform Rating from Analysts at William Blair
Research analysts at William Blair initiated coverage on shares of CDK Global Inc. (NASDAQ:CDK) in a research note issued on Wednesday, The Fly reports. The firm set a “market perform” rating on the stock.
Separately, Zacks Investment Research raised shares of CDK Global from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a report on Tuesday, October 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. CDK Global currently has an average rating of “Hold” and a consensus target price of $55.75.
CDK Global (NASDAQ:CDK) opened at 54.91 on Wednesday. The stock’s 50 day moving average is $57.28 and its 200 day moving average is $54.44. The company has a market capitalization of $8.24 billion, a PE ratio of 36.36 and a beta of 0.65. CDK Global has a one year low of $39.67 and a one year high of $60.09.
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CDK Global (NASDAQ:CDK) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. The firm had revenue of $542.20 million for the quarter, compared to the consensus estimate of $533.84 million. CDK Global had a net margin of 11.32% and a return on equity of 45.25%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.28 EPS. On average, analysts anticipate that CDK Global will post $2.32 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 0.98%. The ex-dividend date was Wednesday, September 14th. CDK Global’s dividend payout ratio is currently 35.76%.
A number of institutional investors have recently modified their holdings of the stock. Orbis Allan Gray Ltd purchased a new position in shares of CDK Global during the first quarter valued at $253,449,000. Iridian Asset Management LLC CT purchased a new position in shares of CDK Global during the second quarter valued at $141,644,000. Palestra Capital Management LLC purchased a new position in shares of CDK Global during the second quarter valued at $26,802,000. Sachem Head Capital Management LP increased its position in shares of CDK Global by 3.8% in the first quarter. Sachem Head Capital Management LP now owns 11,523,377 shares of the company’s stock valued at $536,413,000 after buying an additional 426,044 shares in the last quarter. Finally, Williams Jones & Associates LLC increased its position in shares of CDK Global by 34,491.2% in the second quarter. Williams Jones & Associates LLC now owns 420,283 shares of the company’s stock valued at $23,322,000 after buying an additional 419,068 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.
About CDK Global
CDK Global, Inc is a provider of integrated information technology and digital marketing/advertising solutions to the automotive retail industry. The Company’s segments are Automotive Retail North America (ARNA), Automotive Retail International (ARI) and Digital Marketing (DM). The Company’s solutions automate workflow processes from pre-sale targeted advertising and marketing campaigns to the sale, financing, insurance, parts supply, and repair and maintenance of vehicles.
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