CDK Global, Inc. (CDK) Stock Rating Lowered by BidaskClub
CDK Global, Inc. (NASDAQ:CDK) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
Other analysts have also issued research reports about the stock. Wells Fargo & Company upgraded 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. Zacks Investment Research lowered shares of CDK Global from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Evercore ISI upgraded 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. Finally, TheStreet lowered shares of CDK Global from a “c” rating to a “d+” rating in a research report on Tuesday, August 1st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. CDK Global currently has an average rating of “Hold” and an average target price of $71.75.
CDK Global (NASDAQ:CDK) traded up 0.48% during mid-day trading on Wednesday, hitting $61.15. 3,364,881 shares of the stock traded hands. The stock’s 50 day moving average is $62.63 and its 200-day moving average is $63.39. The company has a market cap of $8.57 billion, a price-to-earnings ratio of 30.73 and a beta of 0.75. CDK Global has a 12 month low of $53.46 and a 12 month high of $67.49.
CDK Global (NASDAQ:CDK) last released its quarterly earnings results on Tuesday, August 1st. The software maker reported $0.55 EPS for the quarter, beating the consensus estimate of $0.54 by $0.01. The business had revenue of $565.40 million for the quarter, compared to analyst estimates of $556.68 million. CDK Global had a net margin of 13.31% and a return on equity of 204.80%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.49 earnings per share. On average, equities research analysts anticipate that CDK Global will post $2.95 EPS for the current year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in CDK Global by 4.0% during the second quarter. BlackRock Inc. now owns 13,718,146 shares of the software maker’s stock worth $851,347,000 after purchasing an additional 521,564 shares during the period. Vanguard Group Inc. raised its stake in CDK Global by 3.6% during the second quarter. Vanguard Group Inc. now owns 12,646,904 shares of the software maker’s stock worth $784,867,000 after purchasing an additional 434,687 shares during the period. Credit Suisse AG raised its stake in CDK Global by 2.6% during the first quarter. Credit Suisse AG now owns 3,532,673 shares of the software maker’s stock worth $229,659,000 after purchasing an additional 88,269 shares during the period. Principal Financial Group Inc. raised its stake in CDK Global by 4.0% during the second quarter. Principal Financial Group Inc. now owns 2,528,901 shares of the software maker’s stock worth $156,943,000 after purchasing an additional 98,417 shares during the period. Finally, Southpoint Capital Advisors LP raised its stake in CDK Global by 13.8% during the second quarter. Southpoint Capital Advisors LP now owns 2,275,700 shares of the software maker’s stock worth $141,230,000 after purchasing an additional 275,700 shares during the period. Hedge funds and other institutional investors own 85.06% 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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