CDK Global Inc (CDK) Expected to Post Quarterly Sales of $578.21 Million

Analysts expect CDK Global Inc (NASDAQ:CDK) to report $578.21 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for CDK Global’s earnings, with the highest sales estimate coming in at $580.50 million and the lowest estimate coming in at $575.80 million. CDK Global posted sales of $556.30 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.9%. The company is expected to report its next quarterly earnings results on Tuesday, May 1st.

On average, analysts expect that CDK Global will report full year sales of $578.21 million for the current year, with estimates ranging from $2.29 billion to $2.31 billion. For the next financial year, analysts anticipate that the company will report sales of $2.40 billion per share, with estimates ranging from $2.38 billion to $2.41 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow CDK Global.

CDK Global (NASDAQ:CDK) last issued its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.17. The company had revenue of $561.70 million for the quarter, compared to the consensus estimate of $564.94 million. CDK Global had a net margin of 14.29% and a negative return on equity of 5,261.95%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.55 EPS.

CDK has been the topic of a number of research analyst reports. TheStreet raised shares of CDK Global from a “c+” rating to a “b-” rating in a report on Thursday, October 19th. Barrington Research set a $75.00 price target on shares of CDK Global and gave the stock a “buy” rating in a report on Tuesday, October 31st. BidaskClub raised shares of CDK Global from a “hold” rating to a “buy” rating in a report on Wednesday, October 11th. Zacks Investment Research raised shares of CDK Global from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a report on Wednesday. Finally, Morgan Stanley upped their price objective on shares of CDK Global from $76.00 to $77.00 and gave the company an “equal weight” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. CDK Global has a consensus rating of “Hold” and a consensus price target of $76.80.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SeaCrest Wealth Management LLC purchased a new stake in shares of CDK Global in the fourth quarter worth about $303,000. Aperio Group LLC lifted its holdings in shares of CDK Global by 3.2% in the fourth quarter. Aperio Group LLC now owns 76,881 shares of the software maker’s stock worth $5,480,000 after buying an additional 2,366 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of CDK Global by 12.6% in the fourth quarter. Victory Capital Management Inc. now owns 43,104 shares of the software maker’s stock worth $3,072,000 after buying an additional 4,832 shares in the last quarter. Dean Capital Investments Management LLC purchased a new stake in shares of CDK Global in the fourth quarter worth about $1,152,000. Finally, Dupont Capital Management Corp lifted its holdings in shares of CDK Global by 33.1% in the fourth quarter. Dupont Capital Management Corp now owns 110,500 shares of the software maker’s stock worth $7,876,000 after buying an additional 27,500 shares in the last quarter. 87.67% of the stock is currently owned by institutional investors and hedge funds.

CDK Global (NASDAQ CDK) opened at $68.50 on Friday. The company has a quick ratio of 2.37, a current ratio of 1.97 and a debt-to-equity ratio of -11.19. The firm has a market cap of $9,217.29, a PE ratio of 24.91, a P/E/G ratio of 1.40 and a beta of 0.67. CDK Global has a fifty-two week low of $59.33 and a fifty-two week high of $76.04.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 1st will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.88%. The ex-dividend date is Wednesday, February 28th. CDK Global’s dividend payout ratio (DPR) is presently 26.55%.

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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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Earnings History and Estimates for CDK Global (NASDAQ:CDK)

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