CDK Global Inc. (CDK) Earns Market Perform Rating from Analysts at William Blair
Analysts at William Blair started coverage on shares of CDK Global Inc. (NASDAQ:CDK) in a research note issued to investors on Wednesday. The brokerage set a “market perform” rating on the stock.
Separately, Zacks Investment Research upgraded shares of CDK Global from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research note on Tuesday, October 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. CDK Global currently has a consensus rating of “Hold” and a consensus target price of $55.75.
Shares of CDK Global (NASDAQ:CDK) opened at 54.91 on Wednesday. CDK Global has a 52-week low of $39.67 and a 52-week high of $60.09. The company’s 50-day moving average price is $57.28 and its 200-day moving average price is $54.44. The firm has a market cap of $8.24 billion, a PE ratio of 36.36 and a beta of 0.65.
CDK Global (NASDAQ:CDK) last announced its earnings results on Wednesday, August 3rd. The company reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.03. The firm earned $542.20 million during the quarter, compared to analyst estimates of $533.84 million. CDK Global had a net margin of 11.32% and a return on equity of 45.25%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.28 EPS. Equities analysts expect that CDK Global will post $2.32 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were paid a dividend of $0.135 per share. The ex-dividend date was Wednesday, September 14th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 0.98%. CDK Global’s dividend payout ratio is 35.76%.
Several institutional investors have recently bought and sold shares of the company. WFG Advisors LP boosted its stake in shares of CDK Global by 0.8% in the second quarter. WFG Advisors LP now owns 1,803 shares of the company’s stock worth $100,000 after buying an additional 15 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of CDK Global by 37.5% in the second quarter. Van ECK Associates Corp now owns 2,087 shares of the company’s stock worth $116,000 after buying an additional 569 shares during the last quarter. M&R Capital Management Inc. purchased a new stake in shares of CDK Global during the second quarter worth about $182,000. Strs Ohio boosted its stake in shares of CDK Global by 21.7% in the second quarter. Strs Ohio now owns 3,394 shares of the company’s stock worth $188,000 after buying an additional 606 shares during the last quarter. Finally, Point72 Asia Hong Kong Ltd purchased a new stake in shares of CDK Global during the second quarter worth about $196,000. Institutional investors own 85.36% of the company’s stock.
About CDK Global
CDK Global, Inc is a provider of integrated information technology and digital marketing/advertising solutions to the automotive retail industry. The Company’s segments are Automotive Retail North America (ARNA), Automotive Retail International (ARI) and Digital Marketing (DM). The Company’s solutions automate workflow processes from pre-sale targeted advertising and marketing campaigns to the sale, financing, insurance, parts supply, and repair and maintenance of vehicles.
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