CDK Global, Inc. (CDK) Downgraded by BidaskClub
BidaskClub downgraded shares of CDK Global, Inc. (NASDAQ:CDK) from a buy rating to a hold rating in a research note issued to investors on Thursday.
Several other research analysts also recently commented on the company. Evercore ISI raised CDK Global from an in-line rating to an outperform rating and set a $72.00 target price on the stock in a report on Monday, July 10th. TheStreet downgraded CDK Global from a c rating to a d+ rating in a report on Tuesday, August 1st. Zacks Investment Research raised CDK Global from a hold rating to a buy rating and set a $71.00 price objective on the stock in a report on Tuesday, October 3rd. Finally, Barrington Research set a $75.00 price objective on CDK Global and gave the stock a buy rating in a report on Tuesday, October 31st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $72.60.
CDK Global (NASDAQ:CDK) opened at $64.74 on Thursday. The company has a market capitalization of $8,904.21, a P/E ratio of 25.69, a PEG ratio of 1.46 and a beta of 0.72. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 297.80. CDK Global has a 1-year low of $54.54 and a 1-year high of $67.49.
CDK Global (NASDAQ:CDK) last announced its earnings results on Tuesday, October 31st. The software maker reported $0.68 EPS for the quarter, hitting the consensus estimate of $0.68. The business had revenue of $565.70 million for the quarter, compared to the consensus estimate of $569.28 million. CDK Global had a return on equity of 515.77% and a net margin of 13.42%. CDK Global’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 EPS. research analysts anticipate that CDK Global will post 2.96 earnings per share for the current fiscal year.
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Large investors have recently bought and sold shares of the business. Commerce Bank lifted its holdings in CDK Global by 47.0% during the 2nd quarter. Commerce Bank now owns 33,552 shares of the software maker’s stock worth $2,082,000 after buying an additional 10,731 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in CDK Global by 12.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 661,036 shares of the software maker’s stock worth $41,024,000 after buying an additional 74,017 shares in the last quarter. Koch Industries Inc. lifted its holdings in CDK Global by 13,261.7% during the 2nd quarter. Koch Industries Inc. now owns 1,136,278 shares of the software maker’s stock worth $1,118,000 after buying an additional 1,127,774 shares in the last quarter. Swiss National Bank lifted its holdings in CDK Global by 5.7% during the 2nd quarter. Swiss National Bank now owns 476,000 shares of the software maker’s stock worth $29,541,000 after buying an additional 25,600 shares in the last quarter. Finally, Caldera Capital LLC acquired a new position in CDK Global during the 2nd quarter worth $5,086,000. 85.62% of the stock is currently owned by hedge funds and other institutional investors.
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.
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