Zacks Investment Research Downgrades CDK Global, Inc. (NASDAQ:CDK) to Hold

CDK Global, Inc. (NASDAQ:CDK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, November 3rd.

According to Zacks, “CDK Global, Inc. provides integrated information technology and digital marketing solutions to the automotive retail industry. The Company operates in three segments: Automotive Retail Solutions North America, Automotive Retail Solutions International, and Digital Marketing Solutions. It integrates workflow processes from pre-sale targeted advertising and marketing campaigns to the sale, financing, insurance, parts supply, repair and maintenance of vehicles. CDK Global, Inc. is based in Hoffman Estates, Illinois. “

CDK has been the topic of several other research reports. BidaskClub lowered CDK Global from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. TheStreet raised CDK Global from a “c+” rating to a “b-” rating in a report on Thursday, October 19th. Barrington Research set a $75.00 price objective on CDK Global and gave the stock a “buy” rating in a report on Tuesday, October 31st. Finally, Evercore ISI upgraded shares of CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 target price for the company in a research note on Monday, July 10th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. CDK Global currently has a consensus rating of “Buy” and an average target price of $72.60.

CDK Global (CDK) traded up $3.19 during mid-day trading on Friday, hitting $65.85. The stock had a trading volume of 2,414,800 shares, compared to its average volume of 891,902. CDK Global has a 1-year low of $55.91 and a 1-year high of $67.49. The stock has a market capitalization of $8,618.13, a price-to-earnings ratio of 24.86, a PEG ratio of 1.41 and a beta of 0.72. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 297.80.

CDK Global (NASDAQ:CDK) last released its quarterly earnings data on Tuesday, October 31st. The software maker reported $0.68 EPS for the quarter, meeting analysts’ consensus estimates of $0.68. CDK Global had a return on equity of 515.77% and a net margin of 13.42%. The firm had revenue of $565.70 million for the quarter, compared to analysts’ expectations of $569.28 million. During the same period in the prior year, the firm posted $0.60 earnings per share. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. equities research analysts forecast that CDK Global will post 2.96 earnings per share for the current fiscal year.

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In other news, VP Jennifer A. Williams sold 1,984 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $62.58, for a total transaction of $124,158.72. Following the completion of the transaction, the vice president now directly owns 5,560 shares of the company’s stock, valued at approximately $347,944.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.39% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Alpha Windward LLC lifted its holdings in CDK Global by 2.3% in the 2nd quarter. Alpha Windward LLC now owns 1,618 shares of the software maker’s stock worth $100,000 after buying an additional 36 shares in the last quarter. Macquarie Group Ltd. acquired a new position in CDK Global in the 3rd quarter worth $145,000. D.A. Davidson & CO. increased its position in shares of CDK Global by 5.6% in the 2nd quarter. D.A. Davidson & CO. now owns 3,130 shares of the software maker’s stock worth $194,000 after purchasing an additional 167 shares during the last quarter. Pinnacle Financial Partners Inc. bought a new stake in shares of CDK Global in the 2nd quarter worth about $198,000. Finally, North American Management Corp increased its position in shares of CDK Global by 6.3% in the 2nd quarter. North American Management Corp now owns 3,342 shares of the software maker’s stock worth $207,000 after purchasing an additional 199 shares during the last quarter. 83.96% of the stock is owned by institutional investors.

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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