CDK Global, Inc. (CDK) Given Consensus Rating of “Hold” by Brokerages
Shares of CDK Global, Inc. (NASDAQ:CDK) have been assigned an average rating of “Hold” from the seven brokerages that are covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $72.33.
Several research firms have recently weighed in on CDK. Wells Fargo & Company raised shares of CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 price target on the stock in a research note on Wednesday, June 21st. BidaskClub downgraded shares of CDK Global from a “buy” rating to a “hold” rating in a research note on Wednesday, September 13th. Zacks Investment Research downgraded shares of CDK Global from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Evercore ISI raised shares of CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 price target on the stock in a research note on Monday, July 10th. Finally, TheStreet downgraded shares of CDK Global from a “c” rating to a “d+” rating in a research note on Tuesday, August 1st.
Large investors have recently bought and sold shares of the company. Alpha Windward LLC lifted its stake in shares of CDK Global by 2.3% in the second quarter. Alpha Windward LLC now owns 1,618 shares of the software maker’s stock worth $100,000 after buying an additional 36 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in CDK Global by 1.2% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,979 shares of the software maker’s stock worth $129,000 after purchasing an additional 23 shares during the period. Penserra Capital Management LLC raised its stake in CDK Global by 9.5% during the first quarter. Penserra Capital Management LLC now owns 2,622 shares of the software maker’s stock worth $170,000 after purchasing an additional 228 shares during the period. D.A. Davidson & CO. raised its stake in CDK Global by 5.6% during the second quarter. D.A. Davidson & CO. now owns 3,130 shares of the software maker’s stock worth $194,000 after purchasing an additional 167 shares during the period. Finally, Pinnacle Financial Partners Inc. purchased a new position in CDK Global during the second quarter worth about $198,000. 85.01% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CDK Global (NASDAQ CDK) opened at 63.12 on Friday. The stock has a market capitalization of $8.84 billion, a PE ratio of 31.72 and a beta of 0.75. CDK Global has a 12 month low of $53.46 and a 12 month high of $67.49. The stock’s 50 day moving average is $62.40 and its 200 day moving average is $63.27.
CDK Global (NASDAQ:CDK) last announced its earnings results on Tuesday, August 1st. The software maker reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business had revenue of $565.40 million for the quarter, compared to analyst estimates of $556.68 million. During the same quarter last year, the business earned $0.49 earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. Analysts anticipate that CDK Global will post $2.95 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 11th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Friday, September 8th. CDK Global’s dividend payout ratio is currently 28.00%.
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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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