CDK Global (CDK) Reaches New 52-Week High at $70.15
CDK Global, Inc. (NASDAQ:CDK)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $70.15 and last traded at $69.30, with a volume of 1572100 shares traded. The stock had previously closed at $69.08.
A number of equities analysts have commented on the company. Zacks Investment Research cut CDK Global from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. BidaskClub cut CDK Global from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Barrington Research set a $75.00 price target on CDK Global and gave the stock a “buy” rating in a research note on Tuesday, October 31st. Finally, TheStreet raised CDK Global from a “c+” rating to a “b-” rating in a research note on Thursday, October 19th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $72.60.
The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 297.80. The company has a market cap of $9,730.00, a P/E ratio of 27.50, a PEG ratio of 1.55 and a beta of 0.78.
CDK Global (NASDAQ:CDK) last posted its earnings results on Tuesday, October 31st. The software maker reported $0.68 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.68. CDK Global had a return on equity of 515.77% and a net margin of 13.42%. The firm had revenue of $565.70 million for the quarter, compared to analysts’ expectations of $569.28 million. During the same period in the previous year, the firm earned $0.60 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. research analysts forecast that CDK Global, Inc. will post 2.97 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.15 per share. The ex-dividend date is Thursday, November 30th. This is a boost from CDK Global’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a dividend yield of 0.85%. CDK Global’s payout ratio is 29.13%.
In other news, VP Jennifer A. Williams sold 1,984 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $62.58, for a total transaction of $124,158.72. Following the transaction, the vice president now directly owns 5,560 shares of the company’s stock, valued at $347,944.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.39% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDK. Russell Investments Group Ltd. boosted its position in shares of CDK Global by 20.2% during the second quarter. Russell Investments Group Ltd. now owns 24,876 shares of the software maker’s stock valued at $1,545,000 after purchasing an additional 4,183 shares in the last quarter. Strs Ohio boosted its position in shares of CDK Global by 52.5% during the second quarter. Strs Ohio now owns 12,933 shares of the software maker’s stock valued at $802,000 after purchasing an additional 4,455 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in shares of CDK Global by 1.4% during the second quarter. Great West Life Assurance Co. Can now owns 147,843 shares of the software maker’s stock valued at $9,168,000 after purchasing an additional 1,985 shares in the last quarter. Rothschild Asset Management Inc. boosted its position in shares of CDK Global by 17.6% during the second quarter. Rothschild Asset Management Inc. now owns 7,305 shares of the software maker’s stock valued at $453,000 after purchasing an additional 1,093 shares in the last quarter. Finally, IFP Advisors Inc boosted its position in shares of CDK Global by 15.0% during the second quarter. IFP Advisors Inc now owns 4,469 shares of the software maker’s stock valued at $277,000 after purchasing an additional 583 shares in the last quarter. Institutional investors own 86.76% of the company’s stock.
CDK Global Company Profile
CDK Global, Inc provides integrated information technology and digital marketing solutions. The Company’s segments include Retail Solutions North America, Advertising North America and CDK International. Through its Retail Solutions North America segment, the Company provides technology-based solutions, including automotive Website platforms, that help automotive retailers, original equipment manufacturers (OEMs) and other industry participants manage the acquisition, sale, financing, insuring, parts supply, repair and maintenance of vehicles.
Receive News & Ratings for CDK Global Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CDK Global Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.