CDK Global, Inc. (NASDAQ:CDK) has received a consensus rating of “Buy” from the seven research firms that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $73.00.
CDK has been the subject of a number of recent research reports. BidaskClub raised shares of CDK Global from a “hold” rating to a “buy” rating in a research note on Saturday, August 19th. Zacks Investment Research raised shares of CDK Global from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a research note on Tuesday, October 3rd. TheStreet raised shares of CDK Global from a “c+” rating to a “b-” rating in a research note on Thursday, October 19th. Finally, Barrington Research set a $75.00 target price on shares of CDK Global and gave the stock a “buy” rating in a research note on Tuesday, October 31st.
In other CDK Global news, VP Jennifer A. Williams sold 1,984 shares of CDK Global stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $62.58, for a total value of $124,158.72. Following the completion of the sale, the vice president now directly owns 5,560 shares of the company’s stock, valued at approximately $347,944.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.39% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in CDK. Russell Investments Group Ltd. grew its stake in shares of CDK Global by 20.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 24,876 shares of the software maker’s stock valued at $1,545,000 after buying an additional 4,183 shares during the period. Strs Ohio grew its stake in shares of CDK Global by 52.5% during the 2nd quarter. Strs Ohio now owns 12,933 shares of the software maker’s stock valued at $802,000 after buying an additional 4,455 shares during the period. Great West Life Assurance Co. Can grew its stake in shares of CDK Global by 1.4% during the 2nd quarter. Great West Life Assurance Co. Can now owns 147,843 shares of the software maker’s stock valued at $9,168,000 after buying an additional 1,985 shares during the period. Rothschild Asset Management Inc. grew its stake in shares of CDK Global by 17.6% during the 2nd quarter. Rothschild Asset Management Inc. now owns 7,305 shares of the software maker’s stock valued at $453,000 after buying an additional 1,093 shares during the period. Finally, World Asset Management Inc grew its stake in shares of CDK Global by 1.0% during the 2nd quarter. World Asset Management Inc now owns 10,385 shares of the software maker’s stock valued at $644,000 after buying an additional 105 shares during the period. 86.76% of the stock is owned by hedge funds and other institutional investors.
CDK Global (NASDAQ CDK) opened at $69.30 on Thursday. The company has a debt-to-equity ratio of 297.80, a quick ratio of 2.37 and a current ratio of 2.37. CDK Global has a 12 month low of $57.92 and a 12 month high of $69.86. The firm has a market cap of $9,501.13, a P/E ratio of 27.41, a PEG ratio of 1.55 and a beta of 0.75.
CDK Global (NASDAQ:CDK) last issued its quarterly earnings data on Tuesday, October 31st. The software maker reported $0.68 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.68. CDK Global had a net margin of 13.42% and a return on equity of 515.77%. The business had revenue of $565.70 million during the quarter, compared to analysts’ expectations of $569.28 million. During the same period last year, the company posted $0.60 EPS. The company’s revenue was up 2.7% on a year-over-year basis. research analysts predict that CDK Global will post 2.97 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be paid a $0.15 dividend. This is a boost from CDK Global’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Thursday, November 30th. CDK Global’s payout ratio is presently 29.13%.
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About CDK Global
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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