$523.29 Million in Sales Expected for CDK Global Inc (NASDAQ:CDK) This Quarter
Analysts expect CDK Global Inc (NASDAQ:CDK) to post sales of $523.29 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for CDK Global’s earnings. The lowest sales estimate is $470.80 million and the highest is $568.00 million. CDK Global reported sales of $554.50 million during the same quarter last year, which would suggest a negative year over year growth rate of 5.6%. The business is scheduled to issue its next earnings report on Wednesday, November 6th.
According to Zacks, analysts expect that CDK Global will report full year sales of $2.02 billion for the current year, with estimates ranging from $2.02 billion to $2.03 billion. For the next year, analysts anticipate that the business will report sales of $2.12 billion, with estimates ranging from $2.10 billion to $2.13 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow CDK Global.
CDK Global (NASDAQ:CDK) last released its quarterly earnings data on Tuesday, August 13th. The software maker reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.02. CDK Global had a net margin of 5.55% and a negative return on equity of 90.04%. The company had revenue of $488.60 million during the quarter, compared to analyst estimates of $585.10 million. During the same period last year, the business earned $0.87 earnings per share. CDK Global’s revenue was up 7.6% compared to the same quarter last year.
In other news, General Counsel Lee J. Brunz sold 1,000 shares of the company’s stock in a transaction dated 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 sale, the general counsel now owns 37,927 shares of the company’s stock, valued at approximately $1,924,415.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 2,000 shares of company stock valued at $96,925. Company insiders own 0.50% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Harel Insurance Investments & Financial Services Ltd. purchased a new position in CDK Global during the first quarter worth $33,000. Berman Capital Advisors LLC lifted its position in CDK Global by 76.0% during the second quarter. Berman Capital Advisors LLC now owns 623 shares of the software maker’s stock valued at $30,000 after purchasing an additional 269 shares during the last quarter. Cordasco Financial Network bought a new stake in CDK Global during the second quarter valued at approximately $33,000. Wealthcare Advisory Partners LLC lifted its position in CDK Global by 224.9% during the second quarter. Wealthcare Advisory Partners LLC now owns 692 shares of the software maker’s stock valued at $34,000 after purchasing an additional 479 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in CDK Global during the second quarter valued at approximately $44,000. 82.05% of the stock is owned by institutional investors.
Shares of CDK traded up $1.23 during mid-day trading on Thursday, reaching $44.96. The company’s stock had a trading volume of 2,833,200 shares, compared to its average volume of 989,183. CDK Global has a 12-month low of $43.10 and a 12-month high of $64.77. The stock has a market cap of $5.32 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 1.38 and a beta of 0.85. The company’s 50 day moving average is $50.21 and its 200 day moving average is $53.75.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.33%. CDK Global’s payout ratio is 19.11%.
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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