CDK Global Inc (CDK) Expected to Post Quarterly Sales of $564.89 Million
Analysts forecast that CDK Global Inc (NASDAQ:CDK) will report sales of $564.89 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for CDK Global’s earnings. The lowest sales estimate is $562.50 million and the highest is $566.00 million. CDK Global reported sales of $547.80 million in the same quarter last year, which indicates a positive year over year growth rate of 3.1%. The company is expected to issue its next quarterly earnings report before the market opens on Tuesday, January 30th.
According to Zacks, analysts expect that CDK Global will report full-year sales of $564.89 million for the current fiscal year, with estimates ranging from $2.30 billion to $2.31 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $2.40 billion per share, with estimates ranging from $2.39 billion to $2.41 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for CDK Global.
CDK Global (NASDAQ:CDK) last released its quarterly earnings data on Tuesday, October 31st. The software maker reported $0.68 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.68. The firm had revenue of $565.70 million during the quarter, compared to analyst estimates of $569.28 million. CDK Global had a return on equity of 515.77% and a net margin of 13.42%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 earnings per share.
Shares of CDK Global (NASDAQ:CDK) traded down $0.75 during mid-day trading on Thursday, reaching $73.82. The company had a trading volume of 1,120,000 shares, compared to its average volume of 1,503,591. CDK Global has a 12 month low of $59.33 and a 12 month high of $76.04. The stock has a market capitalization of $10,150.00, a price-to-earnings ratio of 35.83, a price-to-earnings-growth ratio of 1.67 and a beta of 0.78. The company has a debt-to-equity ratio of 297.80, a current ratio of 2.37 and a quick ratio of 2.37.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 1st will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Wednesday, February 28th. CDK Global’s payout ratio is 29.13%.
In related news, VP Jennifer A. Williams sold 1,984 shares of the firm’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $62.58, for a total value of $124,158.72. Following the completion of the sale, the vice president now owns 5,560 shares of the company’s stock, valued at $347,944.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.39% of the company’s stock.
A number of institutional investors have recently made changes to their positions in CDK. Riverhead Capital Management LLC lifted its position in CDK Global by 51.9% during the second quarter. Riverhead Capital Management LLC now owns 8,357 shares of the software maker’s stock valued at $519,000 after buying an additional 2,857 shares during the period. Ameriprise Financial Inc. lifted its position in CDK Global by 3.2% during the second quarter. Ameriprise Financial Inc. now owns 444,623 shares of the software maker’s stock valued at $27,545,000 after buying an additional 13,857 shares during the period. BlackRock Inc. lifted its position in CDK Global by 4.0% during the second quarter. BlackRock Inc. now owns 13,718,146 shares of the software maker’s stock valued at $851,347,000 after buying an additional 521,564 shares during the period. Amalgamated Bank lifted its position in CDK Global by 46.2% during the second quarter. Amalgamated Bank now owns 16,490 shares of the software maker’s stock valued at $1,023,000 after buying an additional 5,211 shares during the period. Finally, Stevens Capital Management LP lifted its position in CDK Global by 3.0% during the second quarter. Stevens Capital Management LP now owns 30,379 shares of the software maker’s stock valued at $1,885,000 after buying an additional 883 shares during the period. 87.52% of the stock is 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.
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