CDK Global Inc. (NASDAQ:CDK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “CDK Global, Inc. provides integrated information technology and digital marketing solutions to the automotive retail industry. The Company operates in three segments: Automotive Retail Solutions North America, Automotive Retail Solutions International, and Digital Marketing Solutions. It integrates workflow processes from pre-sale targeted advertising and marketing campaigns to the sale, financing, insurance, parts supply, repair and maintenance of vehicles. CDK Global, Inc. is based in Hoffman Estates, Illinois. “
CDK Global (NASDAQ:CDK) opened at 56.23 on Wednesday. The firm has a 50-day moving average of $57.44 and a 200 day moving average of $54.17. CDK Global has a 52 week low of $39.67 and a 52 week high of $60.09. The firm has a market capitalization of $8.44 billion, a PE ratio of 37.24 and a beta of 0.65.
CDK Global (NASDAQ:CDK) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.03. CDK Global had a net margin of 11.32% and a return on equity of 45.25%. The company earned $542.20 million during the quarter, compared to the consensus estimate of $533.84 million. During the same quarter last year, the company earned $0.28 earnings per share. CDK Global’s revenue for the quarter was up 7.8% on a year-over-year basis. Analysts predict that CDK Global will post $2.32 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were given a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 0.96%. The ex-dividend date was Wednesday, September 14th. CDK Global’s dividend payout ratio (DPR) is 35.76%.
Several institutional investors have recently added to or reduced their stakes in CDK. WFG Advisors LP boosted its position in CDK Global by 0.8% in the second quarter. WFG Advisors LP now owns 1,803 shares of the company’s stock valued at $100,000 after buying an additional 15 shares during the period. Van ECK Associates Corp boosted its position in CDK Global by 37.5% in the second quarter. Van ECK Associates Corp now owns 2,087 shares of the company’s stock valued at $116,000 after buying an additional 569 shares during the period. M&R Capital Management Inc. acquired a new position in CDK Global during the second quarter valued at approximately $182,000. Strs Ohio boosted its position in CDK Global by 21.7% in the second quarter. Strs Ohio now owns 3,394 shares of the company’s stock valued at $188,000 after buying an additional 606 shares during the period. Finally, Point72 Asia Hong Kong Ltd acquired a new position in CDK Global during the second quarter valued at approximately $196,000. Institutional investors own 85.36% of the company’s stock.
CDK Global Company Profile
CDK Global, Inc is a provider of integrated information technology and digital marketing/advertising solutions to the automotive retail industry. The Company’s segments are Automotive Retail North America (ARNA), Automotive Retail International (ARI) and Digital Marketing (DM). The Company’s solutions automate workflow processes from pre-sale targeted advertising and marketing campaigns to the sale, financing, insurance, parts supply, and repair and maintenance of vehicles.
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