CDK Global Inc (NASDAQ:CDK) announced a quarterly dividend on Wednesday, August 8th, Wall Street Journal reports. Investors of record on Tuesday, September 4th will be paid a dividend of 0.15 per share by the software maker on Friday, September 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Friday, August 31st.
CDK Global has raised its dividend payment by an average of 68.1% annually over the last three years and has raised its dividend every year for the last 3 years. CDK Global has a payout ratio of 19.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect CDK Global to earn $4.08 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 14.7%.
Shares of NASDAQ:CDK traded up $0.58 during midday trading on Wednesday, reaching $64.20. 681,366 shares of the company were exchanged, compared to its average volume of 1,151,435. CDK Global has a fifty-two week low of $60.28 and a fifty-two week high of $76.04. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of -9.65. The firm has a market cap of $8.26 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 1.54 and a beta of 0.69.
CDK has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of CDK Global from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a report on Friday, April 27th. Morgan Stanley dropped their price objective on shares of CDK Global from $77.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, April 27th. Barrington Research restated a “hold” rating on shares of CDK Global in a report on Thursday, April 26th. ValuEngine upgraded shares of CDK Global from a “sell” rating to a “hold” rating in a report on Tuesday, May 29th. Finally, BidaskClub upgraded shares of CDK Global from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 16th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. CDK Global presently has an average rating of “Hold” and an average target price of $76.75.
CDK Global Company Profile
CDK Global, Inc provides integrated information technology and digital marketing solutions to the automotive retail and other industries worldwide. The company operates through Retail Solutions North America, Advertising North America, and CDK International segments. It offers technology-based solutions, including automotive Website platforms; and advertising solutions comprising the management of digital advertising spend for original equipment manufacturers and automotive retailers.
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