CDK Global Inc (CDK) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of CDK Global Inc (NASDAQ:CDK) from a hold rating to a buy rating in a research note issued to investors on Tuesday. They currently have $71.00 price target on the software maker’s stock.
According to Zacks, “CDK Global, Inc. provides integrated information technology and digital marketing solutions to the automotive retail industry. The Company operates in three segments: Automotive Retail Solutions North America, Automotive Retail Solutions International, and Digital Marketing Solutions. It integrates workflow processes from pre-sale targeted advertising and marketing campaigns to the sale, financing, insurance, parts supply, repair and maintenance of vehicles. CDK Global, Inc. is based in Hoffman Estates, Illinois. “
A number of other analysts also recently weighed in on the stock. Evercore ISI upgraded shares of 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. BidaskClub downgraded shares of CDK Global from a buy rating to a hold rating in a report on Wednesday, September 13th. TheStreet downgraded shares of CDK Global from a c rating to a d+ rating in a report on Tuesday, August 1st. Finally, Wells Fargo & Company upgraded shares of CDK Global from a market perform rating to an outperform rating and set a $75.00 target price on the stock in a report on Wednesday, June 21st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $72.00.
Shares of CDK Global (CDK) traded up 0.54% on Tuesday, reaching $64.66. 1,188,485 shares of the company traded hands. The stock has a 50-day moving average price of $62.90 and a 200 day moving average price of $63.03. CDK Global has a 1-year low of $53.46 and a 1-year high of $67.49. The firm has a market capitalization of $9.06 billion, a P/E ratio of 32.49 and a beta of 0.73.
CDK Global (NASDAQ:CDK) last announced its quarterly earnings results on Tuesday, August 1st. The software maker reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. The company had revenue of $565.40 million for the quarter, compared to the consensus estimate of $556.68 million. CDK Global had a net margin of 10.77% and a return on equity of 405.59%. CDK Global’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.49 EPS. Analysts anticipate that CDK Global will post $2.95 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Monday, September 11th were issued a $0.14 dividend. The ex-dividend date of this dividend was Friday, September 8th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.87%. CDK Global’s dividend payout ratio (DPR) is presently 28.00%.
Institutional investors have recently bought and sold shares of the company. Alpha Windward LLC increased its holdings in shares of CDK Global by 2.3% in the 2nd quarter. Alpha Windward LLC now owns 1,618 shares of the software maker’s stock worth $100,000 after buying an additional 36 shares during the last quarter. D.A. Davidson & CO. increased its holdings in shares of CDK Global by 5.6% in the 2nd quarter. D.A. Davidson & CO. now owns 3,130 shares of the software maker’s stock worth $194,000 after buying an additional 167 shares during the last quarter. Pinnacle Financial Partners Inc. bought a new stake in shares of CDK Global in the 2nd quarter worth about $198,000. North American Management Corp increased its holdings in shares of CDK Global by 6.3% in the 2nd quarter. North American Management Corp now owns 3,342 shares of the software maker’s stock worth $207,000 after buying an additional 199 shares during the last quarter. Finally, RiverPoint Capital Management LLC bought a new stake in shares of CDK Global in the 1st quarter worth about $221,000. Hedge funds and other institutional investors own 85.01% 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.
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