BidaskClub lowered shares of CDK Global, Inc. (NASDAQ:CDK) from a buy rating to a hold rating in a report released on Wednesday.
Other research analysts also recently issued reports about the company. Wells Fargo & Company raised CDK Global from a market perform rating to an outperform rating and set a $75.00 target price on the stock in a report on Wednesday, June 21st. Zacks Investment Research cut shares of CDK Global from a hold rating to a sell rating in a research report on Tuesday, July 4th. 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 report on Monday, July 10th. Finally, TheStreet cut shares of CDK Global from a c rating to a d+ rating in a research report on Tuesday, August 1st. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. CDK Global presently has a consensus rating of Hold and an average target price of $71.75.
CDK Global (NASDAQ CDK) opened at 61.15 on Wednesday. CDK Global has a 12-month low of $53.46 and a 12-month high of $67.49. The stock’s 50 day moving average is $62.63 and its 200 day moving average is $63.39. The firm has a market cap of $8.57 billion, a P/E ratio of 30.73 and a beta of 0.75.
CDK Global (NASDAQ:CDK) last announced its quarterly earnings results on Tuesday, August 1st. The software maker reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. CDK Global had a return on equity of 204.80% and a net margin of 13.31%. The company had revenue of $565.40 million during the quarter, compared to analysts’ expectations of $556.68 million. During the same quarter in the previous year, the firm earned $0.49 earnings per share. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, equities research analysts expect that CDK Global will post $2.95 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 11th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.56 annualized dividend and a dividend yield of 0.92%. CDK Global’s dividend payout ratio is presently 28.00%.
A number of large investors have recently made changes to their positions in CDK. BlackRock Inc. boosted its position in CDK Global by 4.0% in the second quarter. BlackRock Inc. now owns 13,718,146 shares of the software maker’s stock valued at $851,347,000 after buying an additional 521,564 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of CDK Global by 3.6% during the second quarter. Vanguard Group Inc. now owns 12,646,904 shares of the software maker’s stock worth $784,867,000 after purchasing an additional 434,687 shares during the period. Credit Suisse AG lifted its holdings in shares of CDK Global by 2.6% during the first quarter. Credit Suisse AG now owns 3,532,673 shares of the software maker’s stock worth $229,659,000 after purchasing an additional 88,269 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of CDK Global by 4.0% during the second quarter. Principal Financial Group Inc. now owns 2,528,901 shares of the software maker’s stock worth $156,943,000 after purchasing an additional 98,417 shares during the period. Finally, Southpoint Capital Advisors LP lifted its holdings in shares of CDK Global by 13.8% during the second quarter. Southpoint Capital Advisors LP now owns 2,275,700 shares of the software maker’s stock worth $141,230,000 after purchasing an additional 275,700 shares during the period. 85.06% of the stock is currently owned by institutional investors and hedge funds.
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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