CDK Global (CDK) Trading Down 3.1%

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CDK Global Inc (NASDAQ:CDK) shares traded down 3.1% during trading on Thursday . The stock traded as low as $51.69 and last traded at $51.29. 1,132,015 shares were traded during mid-day trading, an increase of 4% from the average session volume of 1,091,568 shares. The stock had previously closed at $52.95.

Several research analysts have commented on the company. Morgan Stanley set a $62.00 price objective on CDK Global and gave the company a “hold” rating in a research report on Thursday. Wells Fargo & Co lowered CDK Global from an “outperform” rating to a “market perform” rating in a research report on Thursday. Oppenheimer set a $67.00 price objective on CDK Global and gave the company a “buy” rating in a research report on Wednesday. Barrington Research restated a “buy” rating and set a $80.00 target price on shares of CDK Global in a research note on Monday, November 5th. Finally, BidaskClub upgraded CDK Global from a “sell” rating to a “hold” rating in a research note on Wednesday, October 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $72.20.

The company has a market cap of $6.83 billion, a price-to-earnings ratio of 16.70, a PEG ratio of 1.43 and a beta of 0.76.

CDK Global (NASDAQ:CDK) last announced its earnings results on Wednesday, November 7th. The software maker reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.06. The company had revenue of $554.50 million during the quarter, compared to the consensus estimate of $560.52 million. CDK Global had a negative return on equity of 182.32% and a net margin of 17.23%. The company’s revenue was down 2.0% on a year-over-year basis. During the same period last year, the firm earned $0.68 earnings per share. Sell-side analysts anticipate that CDK Global Inc will post 3.71 earnings per share for the current fiscal year.

In other news, VP Jennifer A. Williams sold 4,114 shares of the firm’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $61.65, for a total transaction of $253,628.10. Following the completion of the sale, the vice president now directly owns 5,012 shares in the company, valued at $308,989.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of CDK. WealthTrust Fairport LLC acquired a new position in CDK Global in the third quarter worth about $104,000. Qube Research & Technologies Ltd acquired a new position in CDK Global in the second quarter worth about $109,000. Fort L.P. acquired a new position in CDK Global in the second quarter worth about $121,000. Legacy Financial Advisors Inc. grew its stake in CDK Global by 91.0% in the second 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 in the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in CDK Global in the second quarter worth about $170,000. Institutional investors and hedge funds own 82.16% of the company’s stock.

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CDK Global Company Profile (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.

See Also: Intrinsic Value

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