CDK Global Inc (NASDAQ:CDK)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $51.69 and last traded at $52.85, with a volume of 68428 shares changing hands. The stock had previously closed at $57.30.
A number of brokerages have issued reports on CDK. Oppenheimer set a $67.00 price target on shares of CDK Global and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley cut their price target on shares of CDK Global from $75.00 to $68.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 15th. ValuEngine raised shares of CDK Global from a “sell” rating to a “hold” rating in a report on Thursday, September 13th. Barrington Research reissued a “buy” rating and issued a $80.00 price target on shares of CDK Global in a report on Monday. Finally, BidaskClub raised shares of CDK Global from a “sell” rating to a “hold” rating in a report on Wednesday, October 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $73.40.
The firm has a market capitalization of $7.42 billion, a PE ratio of 17.42, a price-to-earnings-growth ratio of 1.55 and a beta of 0.76.
CDK Global (NASDAQ:CDK) last announced its quarterly earnings results on Tuesday, August 14th. The software maker reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.07. The business had revenue of $569.20 million for the quarter, compared to analyst estimates of $578.99 million. CDK Global had a net margin of 16.75% and a negative return on equity of 235.59%. The company’s revenue was up .7% on a year-over-year basis. During the same quarter last year, the firm earned $0.55 EPS. As a group, sell-side analysts forecast that CDK Global Inc will post 3.72 EPS for the current year.
In other CDK Global news, VP Jennifer A. Williams sold 4,114 shares of the firm’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $61.65, for a total value of $253,628.10. Following the sale, the vice president now owns 5,012 shares of the company’s stock, valued at approximately $308,989.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.50% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the company. WealthTrust Fairport LLC purchased a new stake in shares of CDK Global in the 3rd quarter worth about $104,000. Qube Research & Technologies Ltd purchased a new stake in shares of CDK Global in the 2nd quarter worth about $109,000. Fort L.P. purchased a new stake in shares of CDK Global in the 2nd quarter worth about $121,000. Legacy Financial Advisors Inc. lifted its position in shares of CDK Global by 91.0% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 1,899 shares of the software maker’s stock worth $128,000 after purchasing an additional 905 shares during the period. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of CDK Global in the 2nd quarter worth about $170,000. 82.16% of the stock is owned by hedge funds and other institutional investors.
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About CDK Global (NASDAQ:CDK)
CDK Global, Inc provides software and technology solutions for automotive retailers in the United States and internationally. The company operates through Retail Solutions North America, Advertising North America, and CDK International segments. The company offers Dealer Management System (DMS), a portfolio of layered software applications and services for automotive retailers, original equipment manufacturers (OEMs), consumers, and other industry participants manage the acquisition, sale, financing, insuring, parts supply, and repair and maintenance of vehicles.
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