ValuEngine Upgrades CDK Global (NASDAQ:CDK) to Hold

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CDK Global (NASDAQ:CDK) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Tuesday, May 29th.

CDK has been the topic of several other reports. Barrington Research restated a “hold” rating on shares of CDK Global in a report on Monday, March 26th. Zacks Investment Research upgraded shares of CDK Global from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a report on Friday, April 27th. BidaskClub lowered shares of CDK Global from a “sell” rating to a “strong sell” rating in a report on Wednesday, February 21st. Morgan Stanley upped their price objective on shares of CDK Global from $76.00 to $77.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 31st. Finally, Wells Fargo & Co restated an “outperform” rating and issued a $80.00 price objective (up from $75.00) on shares of CDK Global in a report on Wednesday, January 31st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. CDK Global currently has an average rating of “Hold” and a consensus target price of $75.80.

CDK Global traded up $0.20, hitting $66.07, on Tuesday, MarketBeat.com reports. The stock had a trading volume of 56,363 shares, compared to its average volume of 1,239,042. The company has a debt-to-equity ratio of -9.65, a current ratio of 1.80 and a quick ratio of 1.80. The firm has a market capitalization of $8.70 billion, a price-to-earnings ratio of 27.11, a PEG ratio of 2.16 and a beta of 0.75. CDK Global has a 1-year low of $60.28 and a 1-year high of $76.04.

CDK Global (NASDAQ:CDK) last posted its earnings results on Thursday, April 26th. The software maker reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.01. The company had revenue of $576.60 million for the quarter, compared to analyst estimates of $578.11 million. CDK Global had a net margin of 14.99% and a negative return on equity of 361.64%. CDK Global’s revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 EPS. equities analysts anticipate that CDK Global will post 3.06 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. First Mercantile Trust Co. acquired a new stake in CDK Global during the 4th quarter worth approximately $357,000. Pinebridge Investments L.P. lifted its holdings in CDK Global by 13.5% during the 4th quarter. Pinebridge Investments L.P. now owns 49,182 shares of the software maker’s stock worth $3,506,000 after buying an additional 5,866 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in CDK Global by 2.9% during the 4th quarter. Wells Fargo & Company MN now owns 554,503 shares of the software maker’s stock worth $39,524,000 after buying an additional 15,866 shares in the last quarter. Xact Kapitalforvaltning AB lifted its holdings in CDK Global by 2.9% during the 4th quarter. Xact Kapitalforvaltning AB now owns 31,886 shares of the software maker’s stock worth $2,273,000 after buying an additional 889 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in CDK Global by 12.6% during the 4th quarter. Victory Capital Management Inc. now owns 43,104 shares of the software maker’s stock worth $3,072,000 after buying an additional 4,832 shares in the last quarter. Institutional investors own 84.08% of the company’s stock.

CDK Global Company Profile

CDK Global, Inc provides integrated information technology and digital marketing solutions to the automotive retail and other industries worldwide. The company operates through Retail Solutions North America, Advertising North America, and CDK International segments. It offers technology-based solutions, including automotive Website platforms; and advertising solutions comprising the management of digital advertising spend for original equipment manufacturers and automotive retailers.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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