CDK Global, Inc. (CDK) Stock Rating Upgraded by BidaskClub
CDK Global, Inc. (NASDAQ:CDK) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Saturday.
A number of other research firms have also recently commented on CDK. Zacks Investment Research raised shares of CDK Global from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. TheStreet cut shares of CDK Global from a “c” rating to a “d+” rating in a research report on Tuesday, August 1st. Wells Fargo & Company raised shares of CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a research report on Wednesday, June 21st. Finally, Evercore ISI raised shares of CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 target price on the stock in a research report on Monday, July 10th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. CDK Global presently has a consensus rating of “Buy” and a consensus price target of $71.75.
CDK Global (NASDAQ CDK) traded down 0.56% on Friday, reaching $62.10. 711,745 shares of the company traded hands. The stock has a 50 day moving average of $63.18 and a 200-day moving average of $63.72. CDK Global has a 1-year low of $53.46 and a 1-year high of $67.49. The stock has a market capitalization of $8.70 billion, a price-to-earnings ratio of 31.21 and a beta of 0.74.
CDK Global (NASDAQ:CDK) last posted its earnings results on Tuesday, August 1st. The software maker reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.01. CDK Global had a net margin of 13.31% and a return on equity of 204.80%. The company had revenue of $565.40 million for the quarter, compared to analysts’ expectations of $556.68 million. During the same quarter in the prior year, the company posted $0.49 earnings per share. CDK Global’s revenue for the quarter was up 4.3% compared to the same quarter last year. 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 the business’s stock in a transaction on Friday, May 26th. The shares were bought at an average cost of $60.47 per share, for a total transaction of $302,350.00. Following the completion of the purchase, the insider now directly owns 96,877 shares of the company’s stock, valued at $5,858,152.19. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. raised its stake in shares of CDK Global by 4.0% in the first quarter. Russell Investments Group Ltd. now owns 20,693 shares of the software maker’s stock worth $1,346,000 after buying an additional 796 shares during the period. Park Avenue Securities LLC purchased a new stake in CDK Global during the first quarter worth $239,000. Glen Harbor Capital Management LLC raised its stake in CDK Global by 9.1% in the first quarter. Glen Harbor Capital Management LLC now owns 6,842 shares of the software maker’s stock worth $445,000 after buying an additional 572 shares during the last quarter. Acadian Asset Management LLC raised its stake in CDK Global by 24,715.7% in the first quarter. Acadian Asset Management LLC now owns 148,894 shares of the software maker’s stock worth $9,681,000 after buying an additional 148,294 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in CDK Global by 20.6% in the first quarter. ProShare Advisors LLC now owns 162,017 shares of the software maker’s stock worth $10,533,000 after buying an additional 27,681 shares during the last quarter. Institutional investors own 81.37% of the company’s stock.
CDK Global Company Profile
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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