Equities Analysts Set Expectations for CDK Global Inc’s Q4 2018 Earnings (CDK)
CDK Global Inc (NASDAQ:CDK) – Barrington Research boosted their Q4 2018 earnings per share (EPS) estimates for CDK Global in a note issued to investors on Tuesday. Barrington Research analyst G. Prestopino now forecasts that the software maker will post earnings of $0.79 per share for the quarter, up from their prior forecast of $0.77. Barrington Research has a “Buy” rating and a $75.00 price objective on the stock.
CDK Global (NASDAQ:CDK) last issued its quarterly earnings results on Tuesday, October 31st. The software maker reported $0.68 EPS for the quarter, meeting analysts’ consensus estimates 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 quarter in the prior year, the firm earned $0.60 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year.
A number of other research analysts have also recently commented on the company. Zacks Investment Research cut CDK Global from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. BidaskClub cut CDK Global from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Finally, TheStreet raised CDK Global from a “c+” rating to a “b-” rating in a report on Thursday, October 19th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. CDK Global currently has a consensus rating of “Buy” and a consensus price target of $72.60.
Shares of CDK Global (NASDAQ:CDK) traded down $0.45 during midday trading on Wednesday, hitting $71.59. The stock had a trading volume of 981,521 shares, compared to its average volume of 1,446,686. CDK Global has a 1 year low of $58.67 and a 1 year high of $73.48. The company has a debt-to-equity ratio of 297.80, a current ratio of 2.37 and a quick ratio of 2.37. The stock has a market cap of $9,860.00, a PE ratio of 34.75, a PEG ratio of 1.60 and a beta of 0.78.
A number of hedge funds and other institutional investors have recently made changes to their positions in CDK. Koch Industries Inc. increased its stake in CDK Global by 13,261.7% in the 2nd quarter. Koch Industries Inc. now owns 1,136,278 shares of the software maker’s stock worth $1,118,000 after acquiring an additional 1,127,774 shares during the last quarter. Junto Capital Management LP bought a new position in CDK Global in the 2nd quarter worth about $45,226,000. Arrowstreet Capital Limited Partnership increased its stake in CDK Global by 82.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,290,870 shares of the software maker’s stock worth $80,111,000 after acquiring an additional 584,720 shares during the last quarter. BlackRock Inc. increased its stake in CDK Global by 4.0% in the 2nd quarter. BlackRock Inc. now owns 13,718,146 shares of the software maker’s stock worth $851,347,000 after acquiring an additional 521,564 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in CDK Global by 186.8% in the 2nd quarter. Renaissance Technologies LLC now owns 762,600 shares of the software maker’s stock worth $47,327,000 after acquiring an additional 496,700 shares during the last quarter. Institutional investors and hedge funds own 87.50% of the company’s stock.
In related news, VP Jennifer A. Williams sold 1,984 shares of the stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $62.58, for a total transaction of $124,158.72. Following the sale, the vice president now owns 5,560 shares of the company’s stock, valued at approximately $347,944.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.39% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 1st were issued a dividend of $0.15 per share. This is a boost from CDK Global’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.60 dividend on an annualized basis and a yield of 0.84%. CDK Global’s dividend payout ratio is 29.13%.
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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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