Several other equities research analysts also recently issued reports on CDK. Zacks Investment Research upgraded shares of CDK Global from a hold rating to a buy rating and set a $62.00 price objective for the company in a research report on Friday, May 3rd. Barrington Research reissued a buy rating on shares of CDK Global in a research note on Monday, April 29th. Finally, ValuEngine upgraded shares of CDK Global from a sell rating to a hold rating in a research report on Monday, March 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $67.75.
Shares of CDK Global stock opened at $49.16 on Tuesday. CDK Global has a 52 week low of $44.01 and a 52 week high of $67.97. The firm has a market cap of $5.98 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 1.36 and a beta of 0.88.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Monday, June 3rd will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Friday, May 31st. CDK Global’s payout ratio is 19.74%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Clearbridge Investments LLC lifted its stake in shares of CDK Global by 9.9% during the 1st quarter. Clearbridge Investments LLC now owns 2,230 shares of the software maker’s stock valued at $131,000 after buying an additional 200 shares in the last quarter. Cerebellum GP LLC increased its holdings in CDK Global by 5.0% during the 1st quarter. Cerebellum GP LLC now owns 5,711 shares of the software maker’s stock worth $336,000 after acquiring an additional 273 shares during the period. Nordea Investment Management AB increased its holdings in CDK Global by 72.2% during the 1st quarter. Nordea Investment Management AB now owns 267,705 shares of the software maker’s stock worth $15,747,000 after acquiring an additional 112,278 shares during the period. Kore Private Wealth LLC bought a new position in shares of CDK Global in the 1st quarter worth $98,000. Finally, ADI Capital Management LLC bought a new position in shares of CDK Global in the 1st quarter worth $1,412,000. Hedge funds and other institutional investors own 82.65% of the company’s stock.
About CDK Global
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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