CDK Global, Inc. (CDK) Expected to Announce Earnings of $0.69 Per Share
Analysts forecast that CDK Global, Inc. (NASDAQ:CDK) will announce earnings per share (EPS) of $0.69 for the current quarter, according to Zacks. Four analysts have issued estimates for CDK Global’s earnings, with the lowest EPS estimate coming in at $0.68 and the highest estimate coming in at $0.70. CDK Global reported earnings of $0.60 per share during the same quarter last year, which would indicate a positive year over year growth rate of 15%. The business is expected to announce its next quarterly earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that CDK Global will report full year earnings of $2.93 per share for the current financial year, with EPS estimates ranging from $2.90 to $2.97. For the next financial year, analysts expect that the company will report earnings of $3.61 per share, with EPS estimates ranging from $3.40 to $3.83. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for CDK Global.
CDK Global (NASDAQ:CDK) last released its quarterly earnings data on Tuesday, August 1st. The software maker reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.01. The business had revenue of $565.40 million for 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 firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.49 EPS.
Several research firms have recently commented on CDK. BidaskClub upgraded shares of CDK Global from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Wells Fargo & Company upgraded shares of CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research report on Wednesday, June 21st. Zacks Investment Research upgraded shares of CDK Global from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. TheStreet downgraded shares of CDK Global from a “c” rating to a “d+” rating in a research report on Tuesday, August 1st. Finally, Evercore ISI upgraded shares of CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 price objective for the company in a research report on Monday, July 10th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. CDK Global has an average rating of “Hold” and an average target price of $71.75.
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CDK Global (NASDAQ:CDK) traded down 0.75% during trading on Friday, hitting $60.81. The stock had a trading volume of 489,774 shares. The stock has a market cap of $8.52 billion, a price-to-earnings ratio of 30.56 and a beta of 0.75. The firm has a 50 day moving average of $63.06 and a 200-day moving average of $63.46. CDK Global has a 12 month low of $53.46 and a 12 month high of $67.49.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Monday, September 11th will be issued a $0.14 dividend. The ex-dividend date is Friday, September 8th. This represents a $0.56 annualized dividend and a yield of 0.91%. CDK Global’s payout ratio is 28.00%.
Several hedge funds have recently modified their holdings of CDK. BlackRock Inc. lifted its holdings 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 worth $857,910,000 after acquiring an additional 12,976,917 shares during the last quarter. Koch Industries Inc. lifted its holdings in CDK Global by 13,261.7% during the 2nd quarter. Koch Industries Inc. now owns 1,136,278 shares of the software maker’s stock worth $1,118,000 after buying an additional 1,127,774 shares in the last quarter. Findlay Park Partners LLP acquired a new stake in CDK Global during the 1st quarter worth approximately $50,383,000. Junto Capital Management LP acquired a new stake in CDK Global during the 2nd quarter worth approximately $45,226,000. Finally, AQR Capital Management LLC lifted its holdings in CDK Global by 191.3% during the 1st quarter. AQR Capital Management LLC now owns 1,065,874 shares of the software maker’s stock worth $69,292,000 after buying an additional 699,914 shares in the last quarter. Hedge funds and other institutional investors own 85.06% 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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