CDK Global, Inc. (CDK) Given Average Recommendation of “Buy” by Brokerages
Shares of CDK Global, Inc. (NASDAQ:CDK) have received an average recommendation of “Buy” from the six research firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $72.00.
A number of research analysts have commented on CDK shares. BidaskClub upgraded CDK Global from a “hold” rating to a “buy” rating in a research note on Saturday, August 19th. Zacks Investment Research upgraded CDK Global from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research note on Tuesday, October 3rd. TheStreet downgraded CDK Global from a “c” rating to a “d+” rating in a research note on Tuesday, August 1st. Wells Fargo & Company upgraded CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 price target for the company in a research note on Wednesday, June 21st. Finally, Evercore ISI upgraded CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 price target for the company in a research note on Monday, July 10th.
Shares of CDK Global (NASDAQ:CDK) traded up 0.7646% during mid-day trading on Wednesday, reaching $65.2249. The company’s stock had a trading volume of 304,359 shares. The company has a market capitalization of $9.14 billion, a PE ratio of 32.7763 and a beta of 0.73. CDK Global has a 52-week low of $53.46 and a 52-week high of $67.49. The firm’s 50 day moving average is $63.24 and its 200-day moving average is $63.00.
CDK Global (NASDAQ:CDK) last issued its earnings results on Tuesday, August 1st. The software maker reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. CDK Global had a return on equity of 204.80% and a net margin of 13.31%. The firm had revenue of $565.40 million for the quarter, compared to the consensus estimate of $556.68 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. Analysts forecast that CDK Global will post $2.95 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Monday, September 11th were paid a dividend of $0.14 per share. The ex-dividend date was Friday, September 8th. This represents a $0.56 annualized dividend and a dividend yield of 0.87%. CDK Global’s dividend payout ratio (DPR) is presently 28.00%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd lifted its position in shares of CDK Global by 54.6% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 14,704 shares of the software maker’s stock worth $913,000 after purchasing an additional 5,192 shares during the last quarter. WINTON GROUP Ltd acquired a new position in shares of CDK Global during the 2nd quarter worth about $359,000. Koch Industries Inc. lifted its position in shares of CDK Global by 13,261.7% during the 2nd quarter. Koch Industries Inc. now owns 1,136,278 shares of the software maker’s stock worth $1,118,000 after purchasing an additional 1,127,774 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of CDK Global by 1.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 51,017 shares of the software maker’s stock worth $3,165,000 after purchasing an additional 703 shares during the last quarter. Finally, Bank of Nova Scotia acquired a new position in shares of CDK Global during the 2nd quarter worth about $21,771,000. Institutional investors own 85.24% of the company’s stock.
About CDK Global
CDK Global, Inc provides integrated information technology and digital marketing solutions. The Company’s segments include Retail Solutions North America, Advertising North America and CDK International. Through its Retail Solutions North America segment, the Company provides technology-based solutions, including automotive Website platforms, that help automotive retailers, original equipment manufacturers (OEMs) and other industry participants manage the acquisition, sale, financing, insuring, parts supply, repair and maintenance of vehicles.
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