CDK Global Inc. (CDK) Receives New Coverage from Analysts at William Blair
Separately, Zacks Investment Research downgraded shares of CDK Global from a buy rating to a hold rating in a research report on Friday, August 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. CDK Global has an average rating of Hold and an average price target of $55.75.
CDK Global (NASDAQ:CDK) traded down 1.09% during mid-day trading on Wednesday, reaching $54.39. 41,470 shares of the company’s stock traded hands. The company has a 50 day moving average price of $57.19 and a 200-day moving average price of $54.44. CDK Global has a 12 month low of $39.67 and a 12 month high of $60.09. The stock has a market cap of $8.17 billion, a P/E ratio of 36.02 and a beta of 0.65.
CDK Global (NASDAQ:CDK) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. The company earned $542.20 million during the quarter, compared to the consensus estimate of $533.84 million. CDK Global had a net margin of 11.32% and a return on equity of 45.25%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.28 EPS. On average, analysts anticipate that CDK Global will post $2.32 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were given a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Wednesday, September 14th. CDK Global’s payout ratio is currently 35.76%.
A number of hedge funds have recently bought and sold shares of CDK. WFG Advisors LP increased its stake in CDK Global by 0.8% in the second quarter. WFG Advisors LP now owns 1,803 shares of the company’s stock valued at $100,000 after buying an additional 15 shares during the last quarter. Van ECK Associates Corp increased its stake in CDK Global by 37.5% in the second quarter. Van ECK Associates Corp now owns 2,087 shares of the company’s stock valued at $116,000 after buying an additional 569 shares during the last quarter. M&R Capital Management Inc. acquired a new stake in CDK Global during the second quarter valued at about $182,000. Strs Ohio increased its stake in CDK Global by 21.7% in the second quarter. Strs Ohio now owns 3,394 shares of the company’s stock valued at $188,000 after buying an additional 606 shares during the last quarter. Finally, Point72 Asia Hong Kong Ltd acquired a new stake in CDK Global during the second quarter valued at about $196,000. 85.36% of the stock is owned by institutional investors and hedge funds.
CDK Global Company Profile
CDK Global, Inc is a provider of integrated information technology and digital marketing/advertising solutions to the automotive retail industry. The Company’s segments are Automotive Retail North America (ARNA), Automotive Retail International (ARI) and Digital Marketing (DM). The Company’s solutions automate workflow processes from pre-sale targeted advertising and marketing campaigns to the sale, financing, insurance, parts supply, and repair and maintenance of vehicles.
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