BidaskClub upgraded shares of CDK Global, Inc. (NASDAQ:CDK) from a hold rating to a buy rating in a research report report published on Wednesday.
Several other analysts have also recently weighed in on the company. Zacks Investment Research raised CDK Global from a hold rating to a buy rating and set a $71.00 price objective for the company in a report on Tuesday, October 3rd. TheStreet cut CDK Global from a c rating to a d+ rating in a report on Tuesday, August 1st. Evercore ISI raised 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 raised 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 research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of Buy and an average target price of $72.00.
Shares of CDK Global (CDK) traded down 0.08% during trading on Wednesday, reaching $64.91. 971,461 shares of the company were exchanged. The stock has a 50-day moving average of $63.23 and a 200 day moving average of $63.03. CDK Global has a 52-week low of $53.46 and a 52-week high of $67.49. The stock has a market capitalization of $9.10 billion, a P/E ratio of 32.62 and a beta of 0.73.
CDK Global (NASDAQ:CDK) last announced its quarterly earnings data on Tuesday, August 1st. The software maker reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.01. The firm had revenue of $565.40 million during the quarter, compared to analysts’ expectations of $556.68 million. CDK Global had a return on equity of 204.80% and a net margin of 13.31%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.49 EPS. On average, equities analysts anticipate that CDK Global will post $2.95 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Monday, September 11th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, September 8th. This represents a $0.56 annualized dividend and a yield of 0.86%. CDK Global’s dividend payout ratio is currently 28.00%.
A number of large investors have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd raised its holdings in CDK Global by 54.6% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 14,704 shares of the software maker’s stock worth $913,000 after purchasing an additional 5,192 shares during the last quarter. WINTON GROUP Ltd bought a new stake in CDK Global during the 2nd quarter worth about $359,000. Koch Industries Inc. raised its holdings in CDK Global by 13,261.7% during the 2nd quarter. Koch Industries Inc. now owns 1,136,278 shares of the software maker’s stock worth $1,118,000 after purchasing an additional 1,127,774 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in CDK Global by 1.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 51,017 shares of the software maker’s stock worth $3,165,000 after purchasing an additional 703 shares during the last quarter. Finally, Bank of Nova Scotia bought a new stake in CDK Global during the 2nd quarter worth about $21,771,000. 85.01% of the stock is owned by hedge funds and other institutional investors.
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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