Shares of CDK Global Inc (NASDAQ:CDK) have earned an average rating of “Hold” from the eight analysts that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $64.50.

CDK has been the topic of a number of analyst reports. Zacks Investment Research upgraded CDK Global from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research note on Friday, May 3rd. BidaskClub upgraded CDK Global from a “hold” rating to a “buy” rating in a research note on Wednesday, February 13th. Oppenheimer set a $67.00 price target on CDK Global and gave the company a “buy” rating in a research note on Tuesday, February 5th. Barrington Research reissued a “buy” rating on shares of CDK Global in a report on Monday, April 29th. Finally, ValuEngine raised CDK Global from a “sell” rating to a “hold” rating in a report on Monday, March 25th.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDK. JPMorgan Chase & Co. boosted its holdings in CDK Global by 67.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 443,912 shares of the software maker’s stock valued at $27,771,000 after purchasing an additional 178,983 shares in the last quarter. Federated Investors Inc. PA boosted its holdings in CDK Global by 1.2% in the 3rd quarter. Federated Investors Inc. PA now owns 50,659 shares of the software maker’s stock valued at $3,169,000 after purchasing an additional 613 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in CDK Global by 14.3% in the 4th quarter. State of Alaska Department of Revenue now owns 24,521 shares of the software maker’s stock valued at $1,173,000 after purchasing an additional 3,063 shares in the last quarter. CX Institutional purchased a new stake in CDK Global in the 4th quarter valued at approximately $27,000. Finally, Gateway Investment Advisers LLC boosted its holdings in CDK Global by 7.7% in the 4th quarter. Gateway Investment Advisers LLC now owns 30,781 shares of the software maker’s stock valued at $1,474,000 after purchasing an additional 2,196 shares in the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:CDK opened at $50.73 on Thursday. CDK Global has a 12-month low of $44.01 and a 12-month high of $67.97. The firm has a market capitalization of $6.23 billion, a PE ratio of 16.69 and a beta of 0.71.

CDK Global (NASDAQ:CDK) last announced its quarterly earnings results on Tuesday, April 30th. The software maker reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.08. CDK Global had a negative return on equity of 113.53% and a net margin of 16.34%. The business had revenue of $602.10 million for the quarter, compared to the consensus estimate of $596.47 million. During the same period last year, the business posted $0.85 EPS. As a group, sell-side analysts anticipate that CDK Global will post 3.63 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Monday, June 3rd will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Friday, May 31st. CDK Global’s dividend payout ratio is currently 19.74%.

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.

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