Other analysts have also issued research reports about the stock. TheStreet lowered shares of CDK Global from a b- rating to a c+ rating in a report on Wednesday, November 14th. BidaskClub raised shares of CDK Global from a sell rating to a hold rating in a report on Wednesday, January 2nd. Wells Fargo & Co lowered shares of CDK Global from an outperform rating to a market perform rating in a report on Thursday, November 8th. Barrington Research reaffirmed a buy rating and set a $80.00 price objective on shares of CDK Global in a report on Monday, November 5th. Finally, Zacks Investment Research raised shares of CDK Global from a sell rating to a hold rating in a report on Friday, January 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $70.25.
CDK stock traded down $0.35 during mid-day trading on Tuesday, reaching $53.94. 48,100 shares of the stock traded hands, compared to its average volume of 1,134,834. The stock has a market capitalization of $6.35 billion, a price-to-earnings ratio of 17.75, a price-to-earnings-growth ratio of 1.38 and a beta of 0.65. CDK Global has a 52 week low of $44.01 and a 52 week high of $71.71.
CDK Global (NASDAQ:CDK) last posted its quarterly earnings results on Tuesday, February 5th. The software maker reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.12. CDK Global had a net margin of 17.23% and a negative return on equity of 173.86%. The firm had revenue of $590.40 million during the quarter, compared to analyst estimates of $578.91 million. During the same quarter in the prior year, the business posted $0.87 earnings per share. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities analysts forecast that CDK Global will post 3.58 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 1st will be paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, February 28th. This represents a $0.60 dividend on an annualized basis and a yield of 1.11%. CDK Global’s payout ratio is presently 19.74%.
In other CDK Global news, CFO Joseph A. Tautges purchased 7,900 shares of the stock in a transaction on Friday, November 9th. The shares were purchased at an average cost of $50.68 per share, for a total transaction of $400,372.00. Following the purchase, the chief financial officer now owns 25,594 shares of the company’s stock, valued at $1,297,103.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Neil Packham purchased 588 shares of the stock in a transaction on Friday, December 14th. The stock was acquired at an average price of $47.76 per share, for a total transaction of $28,082.88. Following the completion of the purchase, the insider now directly owns 588 shares in the company, valued at approximately $28,082.88. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 10,988 shares of company stock worth $555,855. Insiders own 0.50% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in CDK. CX Institutional bought a new stake in CDK Global in the 4th quarter valued at about $27,000. Oregon Public Employees Retirement Fund boosted its holdings in CDK Global by 4,688.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,470,752 shares of the software maker’s stock valued at $52,000 after purchasing an additional 2,419,149 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in CDK Global by 24.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,442 shares of the software maker’s stock valued at $69,000 after purchasing an additional 282 shares during the period. WealthTrust Fairport LLC bought a new stake in CDK Global in the 3rd quarter valued at about $104,000. Finally, Quantamental Technologies LLC bought a new stake in CDK Global in the 4th quarter valued at about $166,000. 80.40% of the stock is owned by institutional investors.
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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