Oppenheimer Reiterates $67.00 Price Target for CDK Global (CDK)
Several other equities analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of CDK Global from a hold rating to a sell rating in a report on Monday, August 20th. ValuEngine downgraded shares of CDK Global from a hold rating to a sell rating in a report on Wednesday, October 3rd. Morgan Stanley reduced their price target on shares of CDK Global from $75.00 to $68.00 and set an equal weight rating for the company in a report on Wednesday, August 15th. Barrington Research reissued a buy rating and set a $80.00 price target on shares of CDK Global in a report on Monday, August 13th. Finally, BidaskClub downgraded shares of CDK Global from a sell rating to a strong sell rating in a report on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. CDK Global has a consensus rating of Hold and an average target price of $72.20.
CDK Global stock traded down $0.26 during mid-day trading on Wednesday, reaching $50.77. The company’s stock had a trading volume of 2,624,568 shares, compared to its average volume of 1,124,374. The company has a market cap of $6.83 billion, a PE ratio of 16.70, a P/E/G ratio of 1.43 and a beta of 0.76. CDK Global has a twelve month low of $50.50 and a twelve month high of $76.04.
In related news, VP Jennifer A. Williams sold 4,114 shares of the company’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $61.65, for a total value of $253,628.10. Following the completion of the sale, the vice president now owns 5,012 shares of the company’s stock, valued at $308,989.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Clarkston Capital Partners LLC acquired a new stake in CDK Global in the third quarter worth about $43,048,000. Baird Financial Group Inc. lifted its holdings in CDK Global by 50.1% in the second quarter. Baird Financial Group Inc. now owns 16,698 shares of the software maker’s stock worth $1,086,000 after purchasing an additional 5,573 shares during the period. Nissay Asset Management Corp Japan ADV lifted its holdings in CDK Global by 9.9% in the second quarter. Nissay Asset Management Corp Japan ADV now owns 10,487 shares of the software maker’s stock worth $682,000 after purchasing an additional 949 shares during the period. HPM Partners LLC acquired a new stake in CDK Global in the second quarter worth about $303,000. Finally, Tealwood Asset Management Inc. acquired a new stake in CDK Global in the third quarter worth about $3,008,000. 82.16% of the stock is owned by institutional investors and hedge funds.
About CDK Global
CDK Global, Inc provides software and technology solutions for automotive retailers in the United States and internationally. The company operates through Retail Solutions North America, Advertising North America, and CDK International segments. The company offers Dealer Management System (DMS), a portfolio of layered software applications and services for automotive retailers, original equipment manufacturers (OEMs), consumers, and other industry participants manage the acquisition, sale, financing, insuring, parts supply, and repair and maintenance of vehicles.
See Also: How to Use a Moving Average for Trading
Receive News & Ratings for CDK Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CDK Global and related companies with MarketBeat.com's FREE daily email newsletter.