CDK Global, Inc. (CDK) Releases Earnings Results, Meets Estimates
CDK Global, Inc. (NASDAQ:CDK) issued its earnings results on Tuesday. The software maker reported $0.68 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.68, Briefing.com reports. CDK Global had a return on equity of 204.80% and a net margin of 13.31%. The company had revenue of $565.70 million for the quarter, compared to analysts’ expectations of $569.28 million. During the same period last year, the business earned $0.60 EPS. CDK Global’s quarterly revenue was up 2.7% compared to the same quarter last year. CDK Global updated its FY18 guidance to $2.95-3.00 EPS.
Shares of CDK Global (NASDAQ:CDK) traded down 0.46% during trading on Wednesday, reaching $63.27. The company’s stock had a trading volume of 621,279 shares. The stock’s 50 day moving average is $64.03 and its 200 day moving average is $63.12. CDK Global has a one year low of $53.67 and a one year high of $67.49. The firm has a market cap of $8.87 billion, a P/E ratio of 31.79 and a beta of 0.73.
CDK has been the topic of a number of recent research reports. Zacks Investment Research cut CDK Global from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Evercore ISI upgraded CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 target price on the stock in a report on Monday, July 10th. BidaskClub upgraded CDK Global from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. TheStreet cut CDK Global from a “c” rating to a “d+” rating in a report on Tuesday, August 1st. Finally, Barrington Research set a $75.00 target price on CDK Global and gave the stock a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $72.60.
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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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