CDK Global Inc (CDK) Receives $76.75 Consensus Price Target from Analysts

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CDK Global Inc (NASDAQ:CDK) has earned a consensus recommendation of “Hold” from the eight analysts that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $76.75.

CDK has been the topic of a number of recent research reports. Zacks Investment Research upgraded CDK Global from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research report on Friday, April 27th. Morgan Stanley dropped their target price on CDK Global from $77.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, April 27th. Barrington Research reiterated a “hold” rating on shares of CDK Global in a research report on Thursday, April 26th. ValuEngine upgraded CDK Global from a “sell” rating to a “hold” rating in a research report on Tuesday, May 29th. Finally, BidaskClub upgraded CDK Global from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 16th.

A number of large investors have recently made changes to their positions in CDK. Old Mutual Global Investors UK Ltd. lifted its holdings in CDK Global by 685.6% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 1,008,568 shares of the software maker’s stock valued at $63,882,000 after acquiring an additional 880,182 shares during the period. BlackRock Inc. lifted its holdings in CDK Global by 6.8% in the first quarter. BlackRock Inc. now owns 13,565,807 shares of the software maker’s stock valued at $859,260,000 after acquiring an additional 859,949 shares during the period. Millennium Management LLC lifted its holdings in CDK Global by 802.2% in the first quarter. Millennium Management LLC now owns 760,356 shares of the software maker’s stock valued at $48,161,000 after acquiring an additional 676,076 shares during the period. Toronto Dominion Bank lifted its holdings in CDK Global by 84.6% in the first quarter. Toronto Dominion Bank now owns 936,475 shares of the software maker’s stock valued at $59,302,000 after acquiring an additional 429,043 shares during the period. Finally, Amundi Pioneer Asset Management Inc. acquired a new position in CDK Global in the fourth quarter valued at approximately $24,174,000. 84.08% of the stock is owned by institutional investors.

Shares of CDK stock traded up $0.30 during trading hours on Monday, reaching $64.80. 22,924 shares of the company’s stock were exchanged, compared to its average volume of 1,448,325. CDK Global has a 1 year low of $60.28 and a 1 year high of $76.04. The firm has a market capitalization of $8.58 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 2.13 and a beta of 0.75. The company has a debt-to-equity ratio of -9.65, a quick ratio of 1.80 and a current ratio of 1.80.

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

The company also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Tuesday, June 19th will be given a $0.15 dividend. The ex-dividend date is Monday, June 18th. This represents a $0.60 dividend on an annualized basis and a yield of 0.93%. CDK Global’s dividend payout ratio is currently 24.69%.

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.

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