CDK Global Inc (NASDAQ:CDK) declared a quarterly dividend on Tuesday, February 18th, Zacks reports. Investors of record on Monday, March 2nd will be given a dividend of 0.15 per share by the software maker on Monday, March 30th. This represents a $0.60 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Friday, February 28th.
CDK Global has raised its dividend payment by an average of 1.7% annually over the last three years and has increased its dividend annually for the last 4 consecutive years. CDK Global has a dividend payout ratio of 17.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect CDK Global to earn $3.40 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 17.6%.
Shares of NASDAQ:CDK opened at $47.46 on Thursday. CDK Global has a 12 month low of $41.50 and a 12 month high of $63.90. The company has a 50-day moving average price of $53.75 and a 200 day moving average price of $50.61. The company has a market cap of $5.87 billion, a price-to-earnings ratio of 124.89, a PEG ratio of 1.42 and a beta of 1.00.
CDK Global (NASDAQ:CDK) last announced its quarterly earnings data on Tuesday, February 4th. The software maker reported $0.80 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.80. CDK Global had a net margin of 2.36% and a negative return on equity of 63.55%. The business had revenue of $499.60 million during the quarter, compared to the consensus estimate of $493.00 million. During the same quarter last year, the firm earned $0.83 earnings per share. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, equities research analysts predict that CDK Global will post 3.24 earnings per share for the current fiscal year.
A number of research analysts have weighed in on the stock. BidaskClub cut shares of CDK Global from a “hold” rating to a “sell” rating in a report on Saturday, February 22nd. Zacks Investment Research upgraded shares of CDK Global from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research note on Friday, February 14th. Morgan Stanley began coverage on shares of CDK Global in a report on Thursday, December 5th. They set an “equal weight” rating and a $57.00 target price for the company. ValuEngine upgraded shares of CDK Global from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Wells Fargo & Co upgraded shares of CDK Global from an “equal weight” rating to an “overweight” rating and set a $65.00 target price for the company in a report on Thursday, January 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $61.50.
In other CDK Global news, General Counsel Lee J. Brunz sold 1,000 shares of the business’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $56.23, for a total transaction of $56,230.00. Following the completion of the sale, the general counsel now owns 40,569 shares in the company, valued at $2,281,194.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 3,000 shares of company stock worth $164,080. Corporate insiders own 0.36% 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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