CDK Global Inc. (CDK) Given Consensus Recommendation of “Hold” by Analysts
Shares of CDK Global Inc. (NASDAQ:CDK) have earned an average recommendation of “Hold” from the six ratings firms that are covering the company. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $57.00.
A number of brokerages recently issued reports on CDK. William Blair began coverage on CDK Global in a research report on Wednesday. They issued a “market perform” rating on the stock. Zacks Investment Research downgraded CDK Global from a “buy” rating to a “hold” rating in a research report on Wednesday, October 5th.
A number of large investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management & Equity Research Inc. increased its stake in CDK Global by 0.6% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 20,161 shares of the company’s stock worth $938,000 after buying an additional 125 shares during the last quarter. BlackRock Inc. increased its stake in CDK Global by 6.4% in the first quarter. BlackRock Inc. now owns 236,087 shares of the company’s stock worth $10,991,000 after buying an additional 14,229 shares during the last quarter. BlackRock Group LTD increased its stake in CDK Global by 1.6% in the first quarter. BlackRock Group LTD now owns 903,724 shares of the company’s stock worth $42,069,000 after buying an additional 14,273 shares during the last quarter. JPMorgan Chase & Co. increased its stake in CDK Global by 142.7% in the first quarter. JPMorgan Chase & Co. now owns 479,486 shares of the company’s stock worth $22,320,000 after buying an additional 281,925 shares during the last quarter. Finally, Ropes Wealth Advisors LLC increased its stake in CDK Global by 3.3% in the first quarter. Ropes Wealth Advisors LLC now owns 7,323 shares of the company’s stock worth $341,000 after buying an additional 231 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.
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Shares of CDK Global (NASDAQ:CDK) traded up 0.15% during midday trading on Wednesday, reaching $54.99. The company had a trading volume of 340,720 shares. The company has a 50 day moving average of $57.28 and a 200 day moving average of $54.44. CDK Global has a one year low of $39.67 and a one year high of $60.09. The company has a market capitalization of $8.26 billion, a PE ratio of 36.42 and a beta of 0.65.
CDK Global (NASDAQ:CDK) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.49 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.03. CDK Global had a return on equity of 45.25% and a net margin of 11.32%. The firm earned $542.20 million during the quarter, compared to analyst estimates of $533.84 million. During the same period last year, the company earned $0.28 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. Analysts predict that CDK Global will post $2.32 EPS 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 given a dividend of $0.135 per share. The ex-dividend date was Wednesday, September 14th. This represents a $0.54 dividend on an annualized basis and a yield of 0.98%. CDK Global’s payout ratio is 35.76%.
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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