CDK Global (NASDAQ:CDK) issued its earnings results on Tuesday. The software maker reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.02, Bloomberg Earnings reports. CDK Global had a net margin of 16.34% and a negative return on equity of 113.53%. The firm had revenue of $488.60 million during the quarter, compared to analyst estimates of $585.10 million. During the same quarter in the prior year, the business earned $0.87 earnings per share. CDK Global’s revenue for the quarter was up 7.6% on a year-over-year basis. CDK Global updated its FY 2020 guidance to $3.30-3.50 EPS.
CDK stock opened at $47.43 on Wednesday. CDK Global has a 52 week low of $44.01 and a 52 week high of $64.77. The company’s fifty day simple moving average is $50.45. The company has a market capitalization of $5.92 billion, a price-to-earnings ratio of 15.60, a P/E/G ratio of 1.26 and a beta of 0.85.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.15 per share. The ex-dividend date is Friday, August 30th. This represents a $0.60 annualized dividend and a yield of 1.27%. CDK Global’s dividend payout ratio (DPR) is currently 19.74%.
In other CDK Global news, General Counsel Lee J. Brunz sold 1,000 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $50.74, for a total transaction of $50,740.00. Following the completion of the transaction, the general counsel now owns 37,927 shares in the company, valued at $1,924,415.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in CDK. Berman Capital Advisors LLC increased its stake in CDK Global by 76.0% in the 2nd quarter. Berman Capital Advisors LLC now owns 623 shares of the software maker’s stock worth $30,000 after buying an additional 269 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new position in CDK Global during the 1st quarter worth about $33,000. Cordasco Financial Network bought a new position in CDK Global during the 2nd quarter worth about $33,000. Wealthcare Advisory Partners LLC grew its holdings in CDK Global by 224.9% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 692 shares of the software maker’s stock worth $34,000 after acquiring an additional 479 shares in the last quarter. Finally, Alpha Windward LLC grew its holdings in CDK Global by 41.1% during the 2nd quarter. Alpha Windward LLC now owns 965 shares of the software maker’s stock worth $51,000 after acquiring an additional 281 shares in the last quarter. 82.05% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts recently weighed in on CDK shares. BidaskClub lowered shares of CDK Global from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Zacks Investment Research lowered shares of CDK Global from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Barrington Research reiterated a “buy” rating on shares of CDK Global in a research report on Monday, April 29th. Finally, ValuEngine upgraded shares of CDK Global from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. CDK Global presently has a consensus rating of “Hold” and a consensus price target of $67.75.
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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