CDK Global, Inc. (CDK) Downgraded by BidaskClub
CDK Global, Inc. (NASDAQ:CDK) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Friday.
A number of other research firms have also recently commented on CDK. TheStreet cut CDK Global from a “c” rating to a “d+” rating in a report on Tuesday, August 1st. Zacks Investment Research upgraded CDK Global from a “sell” rating to a “hold” rating in a report on Wednesday. Evercore ISI upgraded CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 price target for the company in a report on Monday, July 10th. Finally, Wells Fargo & Company upgraded CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 price target for the company in a report on Wednesday, June 21st. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $71.75.
CDK Global (CDK) traded up 0.16% during trading on Friday, hitting $62.06. The company had a trading volume of 1,120,489 shares. The stock has a market capitalization of $8.86 billion, a PE ratio of 31.19 and a beta of 0.74. The stock has a 50-day moving average of $63.24 and a 200-day moving average of $63.70. CDK Global has a one year low of $53.46 and a one year high of $67.49.
CDK Global (NASDAQ:CDK) last announced its quarterly earnings data on Tuesday, August 1st. The software maker reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.01. The company had revenue of $565.40 million during the quarter, compared to analysts’ expectations of $556.68 million. CDK Global had a return on equity of 204.80% and a net margin of 13.31%. CDK Global’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.49 EPS. On average, equities analysts anticipate that CDK Global will post $2.95 EPS for the current year.
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In other CDK Global news, insider Brian P. Macdonald purchased 5,000 shares of CDK Global stock in a transaction that occurred on Friday, May 26th. The stock was acquired at an average price of $60.47 per share, for a total transaction of $302,350.00. Following the completion of the acquisition, the insider now owns 96,877 shares of the company’s stock, valued at approximately $5,858,152.19. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.34% of the company’s stock.
A number of institutional investors have recently bought and sold shares of CDK. BlackRock Inc. boosted its position in CDK Global by 5,907.6% in the first quarter. BlackRock Inc. now owns 13,196,582 shares of the software maker’s stock worth $857,910,000 after buying an additional 12,976,917 shares during the last quarter. Vanguard Group Inc. boosted its position in CDK Global by 1.9% in the first quarter. Vanguard Group Inc. now owns 12,212,217 shares of the software maker’s stock worth $793,916,000 after buying an additional 222,582 shares during the last quarter. Credit Suisse AG boosted its position in CDK Global by 2.6% in the first quarter. Credit Suisse AG now owns 3,532,673 shares of the software maker’s stock worth $229,659,000 after buying an additional 88,269 shares during the last quarter. FMR LLC boosted its position in CDK Global by 14.4% in the first quarter. FMR LLC now owns 2,238,978 shares of the software maker’s stock worth $145,556,000 after buying an additional 282,363 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in CDK Global by 12.0% in the second quarter. Bank of New York Mellon Corp now owns 2,182,114 shares of the software maker’s stock worth $135,423,000 after buying an additional 233,610 shares during the last quarter. Institutional investors and hedge funds own 84.11% of the company’s stock.
About CDK Global
CDK Global, Inc provides integrated information technology and digital marketing solutions. The Company’s segments include Retail Solutions North America, Advertising North America and CDK International. Through its Retail Solutions North America segment, the Company provides technology-based solutions, including automotive Website platforms, that help automotive retailers, original equipment manufacturers (OEMs) and other industry participants manage the acquisition, sale, financing, insuring, parts supply, repair and maintenance of vehicles.
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