TheStreet Upgrades CDK Global, Inc. (CDK) to B-
CDK Global, Inc. (NASDAQ:CDK) was upgraded by TheStreet from a “c+” rating to a “b-” rating in a research report issued to clients and investors on Thursday.
Several other equities research analysts also recently commented on CDK. Zacks Investment Research downgraded CDK Global from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. BidaskClub downgraded CDK Global from a “buy” rating to a “hold” rating in a report on Wednesday, September 13th. Evercore ISI upgraded CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 price objective 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 objective for the company in a report on Wednesday, June 21st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $72.00.
CDK Global (CDK) opened at 65.44 on Thursday. The stock has a market capitalization of $9.17 billion, a P/E ratio of 32.88 and a beta of 0.73. CDK Global has a 12-month low of $53.46 and a 12-month high of $67.49. The firm’s 50-day moving average is $63.50 and its 200-day moving average is $63.04.
CDK Global (NASDAQ:CDK) last issued its quarterly earnings results on Tuesday, August 1st. The software maker reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.01. CDK Global had a return on equity of 204.80% and a net margin of 13.31%. The firm had revenue of $565.40 million during the quarter, compared to the consensus estimate of $556.68 million. During the same period last year, the company earned $0.49 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis. Analysts predict that CDK Global will post $2.95 EPS for the current fiscal year.
Large investors have recently made changes to their positions in the business. Smith Asset Management Group LP purchased a new position in CDK Global in the second quarter worth about $14,973,000. 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 purchasing an additional 12,976,917 shares during the last quarter. Bank of Montreal Can purchased a new position in CDK Global in the second quarter worth about $13,464,000. Southpoint Capital Advisors LP boosted its position in CDK Global by 17.4% in the fourth quarter. Southpoint Capital Advisors LP now owns 2,400,000 shares of the software maker’s stock worth $143,256,000 after purchasing an additional 355,398 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in CDK Global by 55.2% in the fourth quarter. American Century Companies Inc. now owns 1,162,446 shares of the software maker’s stock worth $55,181,000 after purchasing an additional 413,488 shares during the last quarter. 85.24% of the stock is currently owned by institutional investors and hedge funds.
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.
Receive News & Ratings for CDK Global Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CDK Global Inc. and related companies with MarketBeat.com's FREE daily email newsletter.