Shares of CDK Global Inc. (NASDAQ:CDK) have received an average rating of “Hold” from the six ratings firms that are presently covering the firm. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $57.00.
Several research firms have recently issued reports on CDK. Zacks Investment Research lowered CDK Global from a “buy” rating to a “hold” rating in a research report on Wednesday, October 5th. William Blair began coverage on CDK Global in a research report on Wednesday, October 12th. They issued a “market perform” rating on the stock.
CDK Global (NASDAQ:CDK) opened at 54.54 on Wednesday. CDK Global has a 12 month low of $39.67 and a 12 month high of $60.09. The firm has a 50-day moving average price of $57.01 and a 200 day moving average price of $54.51. The firm has a market capitalization of $8.19 billion, a price-to-earnings ratio of 36.12 and a beta of 0.65.
CDK Global (NASDAQ:CDK) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.03. CDK Global had a return on equity of 45.25% and a net margin of 11.32%. The business had revenue of $542.20 million for the quarter, compared to analyst estimates of $533.84 million. During the same period last year, the company earned $0.28 EPS. The firm’s revenue was up 7.8% on a year-over-year basis. On average, equities analysts forecast that CDK Global will post $2.32 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were issued a dividend of $0.135 per share. The ex-dividend date was Wednesday, September 14th. This represents a $0.54 annualized dividend and a yield of 0.99%. CDK Global’s dividend payout ratio is presently 35.76%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Smith Asset Management Group LP acquired a new position in CDK Global during the second quarter valued at $14,973,000. Orbis Allan Gray Ltd acquired a new position in CDK Global during the first quarter valued at $253,449,000. Bank of Montreal Can acquired a new position in CDK Global during the second quarter valued at $13,464,000. Elliott Management Corp raised its position in CDK Global by 0.8% in the first quarter. Elliott Management Corp now owns 8,110,000 shares of the company’s stock valued at $377,521,000 after buying an additional 64,206 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in CDK Global by 5.3% in the first quarter. Geode Capital Management LLC now owns 1,016,725 shares of the company’s stock valued at $47,305,000 after buying an additional 51,216 shares in the last quarter. Hedge funds and other institutional investors own 85.39% of the company’s stock.
About CDK Global
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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