CDK Global Inc (NASDAQ:CDK) has received an average rating of “Hold” from the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $69.67.
A number of equities analysts recently weighed in on the stock. Oppenheimer set a $67.00 target price on shares of CDK Global and gave the stock a “buy” rating in a research report on Wednesday, November 7th. Barrington Research restated a “buy” rating and set a $80.00 target price on shares of CDK Global in a research report on Monday, November 5th. TheStreet lowered shares of CDK Global from a “b-” rating to a “c+” rating in a research report on Wednesday, November 14th. Zacks Investment Research upgraded shares of CDK Global from a “sell” rating to a “hold” rating in a research report on Tuesday, October 16th. Finally, Morgan Stanley set a $62.00 target price on shares of CDK Global and gave the stock a “hold” rating in a research report on Thursday, November 8th.
CDK opened at $50.04 on Friday. The company has a market capitalization of $6.35 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 1.38 and a beta of 0.70. CDK Global has a 1-year low of $44.01 and a 1-year high of $76.04.
CDK Global (NASDAQ:CDK) last posted its quarterly earnings results on Wednesday, November 7th. The software maker reported $0.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.06. The business had revenue of $554.50 million during the quarter, compared to analyst estimates of $560.52 million. CDK Global had a net margin of 17.23% and a negative return on equity of 173.86%. The company’s revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 earnings per share. On average, sell-side analysts anticipate that CDK Global will post 3.58 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 28th. Investors of record on Monday, December 3rd were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, November 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.20%. CDK Global’s dividend payout ratio is 19.74%.
In other CDK Global news, insider Neil Packham purchased 588 shares of the firm’s stock in a transaction that occurred on Friday, December 14th. The shares were bought at an average price of $47.76 per share, with a total value of $28,082.88. Following the completion of the purchase, the insider now directly owns 588 shares in the company, valued at $28,082.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joseph A. Tautges purchased 7,900 shares of the firm’s stock in a transaction that occurred on Friday, November 9th. The shares were acquired at an average cost of $50.68 per share, for a total transaction of $400,372.00. Following the purchase, the chief financial officer now owns 25,594 shares of the company’s stock, valued at $1,297,103.92. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 10,988 shares of company stock valued at $555,855. 0.50% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in CDK. HL Financial Services LLC raised its stake in shares of CDK Global by 14.5% in the third quarter. HL Financial Services LLC now owns 14,352 shares of the software maker’s stock valued at $898,000 after acquiring an additional 1,822 shares during the period. Clarkston Capital Partners LLC purchased a new position in CDK Global in the 3rd quarter worth about $43,048,000. Baird Financial Group Inc. increased its stake in CDK Global by 50.1% in the 2nd quarter. Baird Financial Group Inc. now owns 16,698 shares of the software maker’s stock worth $1,086,000 after buying an additional 5,573 shares during the period. Tealwood Asset Management Inc. purchased a new position in CDK Global in the 3rd quarter worth about $3,008,000. Finally, Sloane Robinson LLP purchased a new position in CDK Global in the 3rd quarter worth about $488,000. 79.80% of the stock is currently owned by institutional investors.
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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