CDK Global (NASDAQ:CDK) Rating Increased to Hold at BidaskClub

BidaskClub upgraded shares of CDK Global (NASDAQ:CDK) from a sell rating to a hold rating in a research note issued to investors on Friday, BidAskClub reports.

A number of other research analysts also recently commented on CDK. Zacks Investment Research downgraded shares of CDK Global from a hold rating to a strong sell rating in a research report on Monday, August 19th. Barrington Research reaffirmed a buy rating and set a $65.00 price objective on shares of CDK Global in a research report on Monday, August 19th. Finally, ValuEngine downgraded shares of CDK Global from a hold rating to a sell rating in a research report on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. CDK Global has an average rating of Hold and an average target price of $64.00.

CDK Global stock opened at $46.86 on Friday. The firm’s 50 day simple moving average is $46.20 and its 200-day simple moving average is $52.11. CDK Global has a fifty-two week low of $41.50 and a fifty-two week high of $64.77. The company has a market cap of $5.71 billion, a P/E ratio of 14.92, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90.



CDK Global (NASDAQ:CDK) last announced its quarterly earnings data on Tuesday, August 13th. The software maker reported $0.88 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.02. CDK Global had a net margin of 5.55% and a negative return on equity of 90.04%. The firm had revenue of $488.60 million for the quarter, compared to the consensus estimate of $585.10 million. During the same period in the previous year, the firm posted $0.87 earnings per share. The firm’s revenue was up 7.6% on a year-over-year basis. As a group, research analysts predict that CDK Global will post 3.19 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Friday, August 30th. CDK Global’s payout ratio is presently 19.11%.

In related news, General Counsel Lee J. Brunz sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $50.74, for a total transaction of $50,740.00. Following the transaction, the general counsel now directly owns 37,927 shares of the company’s stock, valued at $1,924,415.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. 6 Meridian lifted its stake in shares of CDK Global by 2.2% in the second quarter. 6 Meridian now owns 9,657 shares of the software maker’s stock worth $477,000 after buying an additional 212 shares during the last quarter. Bartlett & Co. LLC lifted its stake in shares of CDK Global by 7.6% in the second quarter. Bartlett & Co. LLC now owns 3,027 shares of the software maker’s stock worth $150,000 after buying an additional 215 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of CDK Global by 3.7% in the second quarter. CIBC Asset Management Inc now owns 6,862 shares of the software maker’s stock worth $339,000 after buying an additional 245 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in shares of CDK Global by 1.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 23,060 shares of the software maker’s stock worth $1,140,000 after buying an additional 250 shares during the last quarter. Finally, Peapack Gladstone Financial Corp lifted its stake in shares of CDK Global by 3.6% in the second quarter. Peapack Gladstone Financial Corp now owns 7,254 shares of the software maker’s stock worth $359,000 after buying an additional 250 shares during the last quarter. 81.35% of the stock is owned by institutional investors.

CDK Global Company Profile

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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