Brokerages Anticipate CDK Global, Inc. (CDK) to Post $0.67 Earnings Per Share

Wall Street brokerages expect CDK Global, Inc. (NASDAQ:CDK) to announce $0.67 earnings per share (EPS) for the current quarter, according to Zacks. Four analysts have made estimates for CDK Global’s earnings, with estimates ranging from $0.65 to $0.68. CDK Global posted earnings per share of $0.60 during the same quarter last year, which indicates a positive year-over-year growth rate of 11.7%. The company is expected to report its next quarterly earnings results before the market opens on Tuesday, October 31st.

According to Zacks, analysts expect that CDK Global will report full year earnings of $2.94 per share for the current financial year, with EPS estimates ranging from $2.91 to $2.97. For the next financial year, analysts expect that the business will report earnings of $3.63 per share, with EPS estimates ranging from $3.40 to $3.83. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow CDK Global.

CDK Global (NASDAQ:CDK) last released its quarterly earnings results on Tuesday, August 1st. The software maker reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.01. The firm had revenue of $565.40 million for 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 revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 EPS.

A number of equities research analysts have recently weighed in on CDK shares. TheStreet lowered shares of CDK Global from a “c” rating to a “d+” rating in a report on Tuesday, August 1st. Evercore ISI raised shares of CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 price objective on the stock in a report on Monday, July 10th. 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 $71.00 price objective on the stock in a report on Tuesday, October 3rd. Finally, Wells Fargo & Company raised shares of CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a report on Wednesday, June 21st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. CDK Global currently has a consensus rating of “Buy” and a consensus price target of $72.00.

CDK Global (NASDAQ:CDK) traded down 0.05% during trading on Tuesday, hitting $64.73. The stock had a trading volume of 408,486 shares. The firm has a 50 day moving average of $63.24 and a 200-day moving average of $63.00. CDK Global has a 12 month low of $53.46 and a 12 month high of $67.49. The stock has a market cap of $9.07 billion, a price-to-earnings ratio of 32.53 and a beta of 0.73.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Monday, September 11th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend was Friday, September 8th. CDK Global’s payout ratio is 28.00%.

Large investors have recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in CDK Global by 5,907.6% in the first quarter. BlackRock Inc. now owns 13,196,582 shares of the software maker’s stock valued at $857,910,000 after purchasing an additional 12,976,917 shares during the last quarter. Commerce Bank boosted its holdings in CDK Global by 47.0% in the second quarter. Commerce Bank now owns 33,552 shares of the software maker’s stock valued at $2,082,000 after purchasing an additional 10,731 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in CDK Global by 12.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 661,036 shares of the software maker’s stock valued at $41,024,000 after purchasing an additional 74,017 shares during the last quarter. HWG Holdings LP purchased a new stake in CDK Global in the first quarter valued at $1,438,000. Finally, Swiss National Bank boosted its holdings in CDK Global by 5.7% in the second quarter. Swiss National Bank now owns 476,000 shares of the software maker’s stock valued at $29,541,000 after purchasing an additional 25,600 shares during the last quarter. 85.24% of the stock is currently owned by institutional investors.

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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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