CDK Global Inc. (CDK) Given Consensus Rating of “Hold” by Brokerages
Shares of CDK Global Inc. (NASDAQ:CDK) have received an average recommendation of “Hold” from the seven ratings firms that are currently covering the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $59.00.
A number of brokerages have recently weighed in on CDK. Zacks Investment Research upgraded CDK Global from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research note on Friday, November 4th. TheStreet upgraded CDK Global from a “hold” rating to a “buy” rating in a research note on Wednesday, November 2nd. Finally, William Blair began coverage on CDK Global in a research note on Wednesday, October 12th. They set a “market perform” rating on the stock.
Large investors have recently added to or reduced their stakes in the company. WFG Advisors LP increased its position 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. FineMark National Bank & Trust increased its position in shares of CDK Global by 180.7% in the third quarter. FineMark National Bank & Trust now owns 1,864 shares of the company’s stock worth $107,000 after buying an additional 1,200 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its position in shares of CDK Global by 69.2% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 1,956 shares of the company’s stock worth $112,000 after buying an additional 800 shares during the last quarter. Van ECK Associates Corp increased its position 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. Finally, Woodmont Investment Counsel LLC bought a new position in shares of CDK Global during the third quarter worth about $116,000. 85.79% of the stock is owned by hedge funds and other institutional investors.
CDK Global (NASDAQ:CDK) traded up 1.52% during midday trading on Wednesday, reaching $56.88. 298,564 shares of the company traded hands. The stock has a market capitalization of $8.50 billion, a P/E ratio of 34.54 and a beta of 0.70. The firm has a 50-day moving average of $55.61 and a 200-day moving average of $55.89. CDK Global has a 1-year low of $39.67 and a 1-year high of $60.09.
CDK Global (NASDAQ:CDK) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.07. CDK Global had a return on equity of 59.26% and a net margin of 11.96%. The business had revenue of $550.70 million for the quarter, compared to analyst estimates of $538.63 million. During the same quarter in the previous year, the firm earned $0.38 earnings per share. The company’s revenue was up 7.0% on a year-over-year basis. On average, analysts predict that CDK Global will post $2.34 earnings per share for the current year.
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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