CDK Global Inc. (CDK) Now Covered by Analysts at William Blair
Equities researchers at William Blair began coverage on shares of CDK Global Inc. (NASDAQ:CDK) in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage set a “market perform” rating on the stock.
Separately, Zacks Investment Research cut shares of CDK Global from a “buy” rating to a “hold” rating in a research report on Friday, August 12th. One equities 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 company. CDK Global has a consensus rating of “Hold” and an average target price of $55.75.
CDK Global (NASDAQ:CDK) opened at 54.91 on Wednesday. The firm has a market cap of $8.24 billion, a PE ratio of 36.36 and a beta of 0.65. The firm’s 50-day moving average price is $57.28 and its 200 day moving average price is $54.44. CDK Global has a 52-week low of $39.67 and a 52-week high of $60.09.
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CDK Global (NASDAQ:CDK) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. CDK Global had a net margin of 11.32% and a return on equity of 45.25%. The business had revenue of $542.20 million for the quarter, compared to analysts’ expectations of $533.84 million. During the same quarter last year, the company posted $0.28 earnings per share. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, equities analysts anticipate that CDK Global will post $2.32 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were issued a $0.135 dividend. 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 dividend payout ratio is currently 35.76%.
Institutional investors have recently modified their holdings of the company. Smith Asset Management Group LP acquired a new position in shares of CDK Global during the second quarter worth about $14,973,000. Orbis Allan Gray Ltd acquired a new position in shares of CDK Global during the first quarter worth about $253,449,000. Bank of Montreal Can acquired a new position in shares of CDK Global during the second quarter worth about $13,464,000. Elliott Management Corp boosted its position in shares of CDK Global by 0.8% in the first quarter. Elliott Management Corp now owns 8,110,000 shares of the company’s stock worth $377,521,000 after buying an additional 64,206 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of CDK Global by 5.3% in the first quarter. Geode Capital Management LLC now owns 1,016,725 shares of the company’s stock worth $47,305,000 after buying an additional 51,216 shares in the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.
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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