CDK Global (NASDAQ:CDK) has been given a $62.00 price target by research analysts at Morgan Stanley in a report issued on Thursday. The firm currently has a “hold” rating on the software maker’s stock. Morgan Stanley’s target price indicates a potential upside of 22.12% from the company’s current price.
CDK has been the topic of a number of other research reports. BidaskClub cut shares of CDK Global from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 9th. Zacks Investment Research cut shares of CDK Global from a “hold” rating to a “sell” rating in a report on Monday, August 20th. ValuEngine raised shares of CDK Global from a “sell” rating to a “hold” rating in a report on Monday, August 13th. Wells Fargo & Co cut shares of CDK Global from an “outperform” rating to a “market perform” rating in a report on Thursday. Finally, Barrington Research reaffirmed a “buy” rating and issued a $80.00 price target on shares of CDK Global in a report on Monday, August 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $72.20.
Shares of CDK stock opened at $50.77 on Thursday. CDK Global has a 1 year low of $50.50 and a 1 year high of $76.04. The firm has a market cap of $6.83 billion, a price-to-earnings ratio of 16.70, a price-to-earnings-growth ratio of 1.43 and a beta of 0.76.
CDK Global (NASDAQ:CDK) last issued its earnings results on Wednesday, November 7th. The software maker reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.06. CDK Global had a net margin of 17.23% and a negative return on equity of 182.32%. The business had revenue of $554.50 million for the quarter, compared to analysts’ expectations of $560.52 million. During the same quarter in the previous year, the firm posted $0.68 EPS. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, equities research analysts forecast that CDK Global will post 3.71 earnings per share for the current fiscal year.
In other news, VP Jennifer A. Williams sold 4,114 shares of the company’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $61.65, for a total value of $253,628.10. Following the transaction, the vice president now owns 5,012 shares of the company’s stock, valued at $308,989.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.50% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Boston Partners purchased a new position in CDK Global in the second quarter worth $156,134,000. Senator Investment Group LP grew its position in CDK Global by 43.1% in the second quarter. Senator Investment Group LP now owns 3,005,000 shares of the software maker’s stock worth $195,475,000 after acquiring an additional 905,000 shares in the last quarter. FMR LLC grew its position in CDK Global by 35.1% in the second quarter. FMR LLC now owns 2,846,088 shares of the software maker’s stock worth $185,138,000 after acquiring an additional 739,661 shares in the last quarter. Clarkston Capital Partners LLC purchased a new position in CDK Global in the third quarter worth $43,048,000. Finally, BlackRock Inc. grew its position in CDK Global by 4.8% in the third quarter. BlackRock Inc. now owns 14,017,687 shares of the software maker’s stock worth $876,946,000 after acquiring an additional 643,215 shares in the last quarter. 82.16% of the stock is currently owned by hedge funds and other 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.
Read More: Rule of 72
Receive News & Ratings for CDK Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CDK Global and related companies with MarketBeat.com's FREE daily email newsletter.