CDK Global Inc (NASDAQ:CDK) Receives $64.67 Consensus Target Price from Brokerages

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CDK Global Inc (NASDAQ:CDK) has been assigned an average rating of “Hold” from the eight analysts that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $64.67.

Several analysts recently weighed in on CDK shares. ValuEngine downgraded shares of CDK Global from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. BidaskClub raised shares of CDK Global from a “sell” rating to a “hold” rating in a research report on Friday, September 13th. Barrington Research reaffirmed a “buy” rating and set a $65.00 price objective on shares of CDK Global in a research report on Monday, August 19th. Finally, Zacks Investment Research lowered shares of CDK Global from a “hold” rating to a “strong sell” rating in a research note on Monday, August 19th.

CDK stock opened at $47.79 on Wednesday. The company’s 50-day simple moving average is $45.71 and its 200-day simple moving average is $51.87. CDK Global has a 52-week low of $41.50 and a 52-week high of $63.90. The firm has a market cap of $5.62 billion, a P/E ratio of 15.22, a PEG ratio of 1.39 and a beta of 0.90.

CDK Global (NASDAQ:CDK) last issued its quarterly earnings results on Tuesday, August 13th. The software maker reported $0.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.02. The firm had revenue of $488.60 million for the quarter, compared to analyst estimates of $585.10 million. CDK Global had a net margin of 5.55% and a negative return on equity of 90.04%. CDK Global’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the company posted $0.87 EPS. On average, research analysts expect that CDK Global will post 3.19 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Friday, August 30th. CDK Global’s payout ratio is 19.11%.

In related news, General Counsel Lee J. Brunz sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $50.74, for a total transaction of $50,740.00. Following the completion of the transaction, the general counsel now owns 37,927 shares of the company’s stock, valued at $1,924,415.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 2,000 shares of company stock valued at $95,440 in the last ninety days. 0.50% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in CDK Global by 9.6% during the 2nd quarter. BlackRock Inc. now owns 14,995,613 shares of the software maker’s stock valued at $741,383,000 after acquiring an additional 1,313,730 shares during the last quarter. Boston Partners increased its stake in CDK Global by 6.4% during the 2nd quarter. Boston Partners now owns 3,295,198 shares of the software maker’s stock valued at $162,929,000 after buying an additional 199,298 shares during the period. Bank of America Corp DE increased its stake in CDK Global by 19.7% during the 2nd quarter. Bank of America Corp DE now owns 2,033,222 shares of the software maker’s stock valued at $100,523,000 after buying an additional 335,048 shares during the period. Wells Fargo & Company MN grew its stake in shares of CDK Global by 8.5% in the 1st quarter. Wells Fargo & Company MN now owns 1,745,667 shares of the software maker’s stock worth $102,680,000 after purchasing an additional 136,759 shares during the last quarter. Finally, Clarkston Capital Partners LLC grew its stake in shares of CDK Global by 8.8% in the 2nd quarter. Clarkston Capital Partners LLC now owns 1,670,100 shares of the software maker’s stock worth $82,570,000 after purchasing an additional 135,110 shares during the last quarter. Institutional investors and hedge funds own 81.35% 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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