FY2019 EPS Estimates for CDK Global Inc (CDK) Lifted by Barrington Research

CDK Global Inc (NASDAQ:CDK) – Barrington Research increased their FY2019 earnings estimates for shares of CDK Global in a research report issued on Wednesday, February 6th. Barrington Research analyst G. Prestopino now expects that the software maker will earn $3.64 per share for the year, up from their prior forecast of $3.55. Barrington Research has a “Buy” rating and a $80.00 price target on the stock. Barrington Research also issued estimates for CDK Global’s Q4 2019 earnings at $0.90 EPS.

CDK Global (NASDAQ:CDK) last released its quarterly earnings results on Tuesday, February 5th. The software maker reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.12. The firm had revenue of $590.40 million for the quarter, compared to the consensus estimate of $578.91 million. CDK Global had a negative return on equity of 135.00% and a net margin of 16.36%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.87 EPS.



A number of other analysts have also recently weighed in on CDK. Zacks Investment Research raised CDK Global from a “sell” rating to a “hold” rating in a research report on Tuesday, October 16th. BidaskClub raised CDK Global from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 24th. Oppenheimer set a $67.00 price objective on CDK Global and gave the stock a “buy” rating in a research report on Wednesday, November 7th. Wells Fargo & Co cut CDK Global from an “outperform” rating to a “market perform” rating in a report on Thursday, November 8th. Finally, Morgan Stanley set a $62.00 price target on CDK Global and gave the company a “hold” rating in a report on Thursday, November 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $67.25.

CDK Global stock opened at $55.25 on Monday. CDK Global has a twelve month low of $44.01 and a twelve month high of $71.71. The company has a market cap of $6.91 billion, a price-to-earnings ratio of 18.17, a P/E/G ratio of 1.52 and a beta of 0.65.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CDK. Oregon Public Employees Retirement Fund increased its stake in CDK Global by 4,688.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,470,752 shares of the software maker’s stock valued at $52,000 after purchasing an additional 2,419,149 shares in the last quarter. Clarkston Capital Partners LLC increased its stake in CDK Global by 118.0% in the 4th quarter. Clarkston Capital Partners LLC now owns 1,499,940 shares of the software maker’s stock valued at $71,817,000 after purchasing an additional 811,839 shares in the last quarter. FMR LLC increased its stake in CDK Global by 35.1% in the 2nd quarter. FMR LLC now owns 2,846,088 shares of the software maker’s stock valued at $185,138,000 after purchasing an additional 739,661 shares in the last quarter. River Road Asset Management LLC purchased a new position in CDK Global in the 4th quarter valued at approximately $32,959,000. Finally, William Blair Investment Management LLC purchased a new position in CDK Global in the 3rd quarter valued at approximately $42,432,000. 82.05% of the stock is owned by hedge funds and other institutional investors.

In other CDK Global news, insider Neil Packham purchased 588 shares of CDK Global stock in a transaction dated Friday, December 14th. The stock was acquired at an average cost of $47.76 per share, with a total value of $28,082.88. Following the acquisition, the insider now directly owns 588 shares of the company’s stock, valued at $28,082.88. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.50% of the stock is owned by company insiders.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 1st will be issued a $0.15 dividend. The ex-dividend date is Thursday, February 28th. This represents a $0.60 annualized dividend and a dividend yield of 1.09%. CDK Global’s dividend payout ratio is currently 19.74%.

About CDK Global

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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