Analysts predict that CDK Global Inc (NASDAQ:CDK) will announce $573.91 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for CDK Global’s earnings. The highest sales estimate is $584.63 million and the lowest is $562.90 million. CDK Global posted sales of $565.70 million in the same quarter last year, which would indicate a positive year over year growth rate of 1.5%. The firm is scheduled to announce its next earnings report on Tuesday, October 30th.
According to Zacks, analysts expect that CDK Global will report full year sales of $2.32 billion for the current fiscal year, with estimates ranging from $2.27 billion to $2.36 billion. For the next financial year, analysts expect that the firm will report sales of $2.39 billion per share, with estimates ranging from $2.36 billion to $2.42 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover CDK Global.
CDK Global (NASDAQ:CDK) last released its quarterly earnings results on Tuesday, August 14th. The software maker reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.07. The business had revenue of $569.20 million during the quarter, compared to analysts’ expectations of $578.99 million. CDK Global had a negative return on equity of 361.64% and a net margin of 14.99%. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 EPS.
A number of equities analysts have recently commented on CDK shares. Barrington Research reiterated a “hold” rating on shares of CDK Global in a report on Thursday, April 26th. Morgan Stanley dropped their target price on CDK Global from $77.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, April 27th. Zacks Investment Research upgraded CDK Global from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a report on Friday, April 27th. ValuEngine cut CDK Global from a “hold” rating to a “sell” rating in a report on Tuesday, May 22nd. Finally, BidaskClub upgraded CDK Global from a “strong sell” rating to a “sell” rating in a report on Saturday, June 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $75.00.
Several institutional investors have recently made changes to their positions in the company. WealthTrust Fairport LLC bought a new stake in shares of CDK Global during the 1st quarter worth approximately $105,000. Qube Research & Technologies Ltd bought a new stake in shares of CDK Global during the 2nd quarter worth approximately $109,000. Fort L.P. bought a new stake in shares of CDK Global during the 2nd quarter worth approximately $121,000. Legacy Financial Advisors Inc. lifted its stake in shares of CDK Global by 91.0% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 1,899 shares of the software maker’s stock worth $128,000 after acquiring an additional 905 shares during the last quarter. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of CDK Global during the 2nd quarter worth approximately $170,000. Hedge funds and other institutional investors own 85.87% of the company’s stock.
NASDAQ CDK traded up $0.50 during trading on Friday, hitting $61.85. 1,249,300 shares of the stock traded hands, compared to its average volume of 1,153,147. The stock has a market capitalization of $8.42 billion, a PE ratio of 25.54, a P/E/G ratio of 1.57 and a beta of 0.69. The company has a debt-to-equity ratio of -9.65, a current ratio of 1.80 and a quick ratio of 1.80. CDK Global has a 12-month low of $59.84 and a 12-month high of $76.04.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Tuesday, September 4th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Friday, August 31st. CDK Global’s dividend payout ratio (DPR) is 24.69%.
About CDK Global
CDK Global, Inc provides integrated information technology and digital marketing solutions to the automotive retail and other industries worldwide. The company operates through Retail Solutions North America, Advertising North America, and CDK International segments. It offers technology-based solutions, including automotive Website platforms; and advertising solutions comprising the management of digital advertising spend for original equipment manufacturers and automotive retailers.
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