Zacks Investment Research upgraded shares of CDK Global (NASDAQ:CDK) from a hold rating to a buy rating in a research report report published on Friday morning. They currently have $60.00 target price on the software maker’s stock.
According to Zacks, “CDK Global, Inc. provides integrated information technology and digital marketing solutions to the automotive retail industry. The Company operates in three segments: Automotive Retail Solutions North America, Automotive Retail Solutions International, and Digital Marketing Solutions. It integrates workflow processes from pre-sale targeted advertising and marketing campaigns to the sale, financing, insurance, parts supply, repair and maintenance of vehicles. CDK Global, Inc. is based in Hoffman Estates, Illinois. “
A number of other analysts have also recently weighed in on CDK. Oppenheimer set a $67.00 target price on shares of CDK Global and gave the stock a buy rating in a research note on Tuesday, February 5th. Morgan Stanley set a $62.00 price target on shares of CDK Global and gave the stock a hold rating in a report on Thursday, November 8th. Barrington Research set a $80.00 price target on shares of CDK Global and gave the stock a buy rating in a report on Tuesday, November 13th. BidaskClub upgraded shares of CDK Global from a strong sell rating to a sell rating in a report on Wednesday, October 24th. Finally, Wells Fargo & Co lowered shares of CDK Global from an outperform rating to a market perform rating in a report on Thursday, November 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. CDK Global presently has a consensus rating of Hold and an average price target of $67.25.
NASDAQ CDK opened at $55.25 on Friday. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of 18.17, a P/E/G ratio of 1.52 and a beta of 0.65. CDK Global has a fifty-two week low of $44.01 and a fifty-two week high of $71.71.
CDK Global (NASDAQ:CDK) last posted its earnings results on Tuesday, February 5th. The software maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.12. The firm had revenue of $590.40 million for the quarter, compared to analysts’ expectations of $578.91 million. CDK Global had a net margin of 16.36% and a negative return on equity of 135.00%. The company’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.87 earnings per share. On average, sell-side analysts expect that CDK Global will post 3.64 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 1st will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, February 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.09%. CDK Global’s dividend payout ratio (DPR) is presently 19.74%.
In other CDK Global news, insider Neil Packham purchased 588 shares of the business’s stock in a transaction dated Friday, December 14th. The shares were bought at an average price of $47.76 per share, for a total transaction of $28,082.88. Following the completion of the acquisition, the insider now owns 588 shares in the company, valued at $28,082.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Bruderman Asset Management LLC lifted its holdings in CDK Global by 722.7% in the fourth quarter. Bruderman Asset Management LLC now owns 543 shares of the software maker’s stock valued at $26,000 after buying an additional 477 shares during the period. CX Institutional acquired a new position in CDK Global in the fourth quarter valued at $27,000. Essex Investment Management Co. LLC acquired a new position in CDK Global in the fourth quarter valued at $30,000. Laurel Wealth Advisors LLC acquired a new position in CDK Global in the fourth quarter valued at $32,000. Finally, Oregon Public Employees Retirement Fund lifted its holdings in CDK Global by 4,688.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,470,752 shares of the software maker’s stock valued at $52,000 after buying an additional 2,419,149 shares during the period. Institutional investors and hedge funds own 82.05% of the company’s stock.
CDK Global Company Profile
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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