BidaskClub Upgrades CDK Global, Inc. (CDK) to “Buy”

BidaskClub upgraded shares of CDK Global, Inc. (NASDAQ:CDK) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.

Several other research firms have also recently commented on CDK. Zacks Investment Research raised CDK Global from a hold rating to a buy rating and set a $71.00 price target for the company in a report on Tuesday, October 3rd. Wells Fargo & Company raised CDK Global from a market perform rating to an outperform rating and set a $75.00 price target for the company in a report on Wednesday, June 21st. TheStreet cut CDK Global from a c rating to a d+ rating in a report on Tuesday, August 1st. Finally, Evercore ISI raised CDK Global from an in-line rating to an outperform rating and set a $72.00 price target for the company in a report on Monday, July 10th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. CDK Global presently has an average rating of Buy and an average price target of $72.00.

CDK Global (CDK) opened at 64.91 on Wednesday. The stock has a 50 day moving average price of $63.24 and a 200 day moving average price of $63.02. The firm has a market cap of $9.10 billion, a price-to-earnings ratio of 32.62 and a beta of 0.73. CDK Global has a 12 month low of $53.46 and a 12 month high of $67.49.

CDK Global (NASDAQ:CDK) last posted its quarterly earnings results on Tuesday, August 1st. The software maker reported $0.55 EPS for the quarter, beating the consensus estimate of $0.54 by $0.01. The firm had revenue of $565.40 million during the quarter, compared to analysts’ expectations of $556.68 million. CDK Global had a return on equity of 204.80% and a net margin of 13.31%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.49 EPS. On average, equities analysts expect that CDK Global will post $2.95 earnings per share for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Monday, September 11th were paid a $0.14 dividend. The ex-dividend date of this dividend was Friday, September 8th. This represents a $0.56 annualized dividend and a dividend yield of 0.86%. CDK Global’s dividend payout ratio is currently 28.00%.

Several hedge funds have recently added to or reduced their stakes in CDK. BlackRock Inc. grew its stake in shares of CDK Global by 5,907.6% in the 1st quarter. BlackRock Inc. now owns 13,196,582 shares of the software maker’s stock valued at $857,910,000 after purchasing an additional 12,976,917 shares during the period. Koch Industries Inc. grew its stake in shares of CDK Global by 13,261.7% in the 2nd quarter. Koch Industries Inc. now owns 1,136,278 shares of the software maker’s stock valued at $1,118,000 after purchasing an additional 1,127,774 shares during the period. Junto Capital Management LP bought a new stake in shares of CDK Global in the 2nd quarter valued at approximately $45,226,000. AQR Capital Management LLC grew its stake in shares of CDK Global by 191.3% in the 1st quarter. AQR Capital Management LLC now owns 1,065,874 shares of the software maker’s stock valued at $69,292,000 after purchasing an additional 699,914 shares during the period. Finally, Morgan Stanley grew its stake in shares of CDK Global by 82.9% in the 1st quarter. Morgan Stanley now owns 1,383,037 shares of the software maker’s stock valued at $89,913,000 after purchasing an additional 627,062 shares during the period. Institutional investors own 85.01% of the company’s stock.

CDK Global Company Profile

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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