Zacks Investment Research lowered shares of CDK Global, Inc. (NASDAQ:CDK) from a buy rating to a hold rating in a research report report published on Friday morning.

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 subject of several other reports. BidaskClub downgraded CDK Global from a buy rating to a hold rating in a report on Thursday. TheStreet upgraded 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 company a buy rating in a report on Tuesday, October 31st. Finally, Evercore ISI upgraded CDK Global from an in-line rating to an outperform rating and set a $72.00 price objective for the company in a report on Monday, July 10th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $72.60.

CDK Global (NASDAQ:CDK) traded down $0.46 during trading hours on Friday, hitting $64.28. The stock had a trading volume of 155,669 shares, compared to its average volume of 858,751. CDK Global has a fifty-two week low of $54.54 and a fifty-two week high of $67.49. The company has a market capitalization of $8,900.00, a P/E ratio of 25.69, a price-to-earnings-growth ratio of 1.46 and a beta of 0.75. The company has a debt-to-equity ratio of 297.80, a quick ratio of 2.37 and a current ratio of 2.37.

CDK Global (NASDAQ:CDK) last released its earnings results on Tuesday, October 31st. The software maker reported $0.68 earnings per share for the quarter, hitting the consensus estimate of $0.68. CDK Global had a return on equity of 515.77% and a net margin of 13.42%. The business had revenue of $565.70 million during the quarter, compared to the consensus estimate of $569.28 million. During the same period last year, the company earned $0.60 earnings per share. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. analysts forecast that CDK Global will post 2.96 EPS for the current fiscal year.

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Several hedge funds have recently added to or reduced their stakes in the stock. Sei Investments Co. raised its holdings in shares of CDK Global by 11.5% in the third quarter. Sei Investments Co. now owns 11,413 shares of the software maker’s stock valued at $719,000 after acquiring an additional 1,174 shares in the last quarter. HL Financial Services LLC raised its holdings in shares of CDK Global by 6.5% in the third quarter. HL Financial Services LLC now owns 13,335 shares of the software maker’s stock valued at $841,000 after acquiring an additional 813 shares in the last quarter. Candriam Luxembourg S.C.A. raised its holdings in shares of CDK Global by 66.3% in the third quarter. Candriam Luxembourg S.C.A. now owns 17,560 shares of the software maker’s stock valued at $1,108,000 after acquiring an additional 7,000 shares in the last quarter. State of Tennessee Treasury Department raised its holdings in CDK Global by 16.7% in the third quarter. State of Tennessee Treasury Department now owns 70,000 shares of the software maker’s stock worth $4,416,000 after purchasing an additional 10,000 shares in the last quarter. Finally, State of Wisconsin Investment Board raised its holdings in CDK Global by 9.0% in the third quarter. State of Wisconsin Investment Board now owns 112,623 shares of the software maker’s stock worth $7,105,000 after purchasing an additional 9,341 shares in the last quarter. Hedge funds and other institutional investors own 85.62% 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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