Separately, Zacks Investment Research downgraded shares of CDK Global from a buy rating to a hold rating in a research note on Friday, August 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $55.75.
CDK Global (NASDAQ:CDK) opened at 54.63 on Wednesday. CDK Global has a 12 month low of $39.67 and a 12 month high of $60.09. The company has a 50-day moving average of $56.90 and a 200 day moving average of $54.68. The company has a market cap of $8.20 billion, a PE ratio of 36.18 and a beta of 0.65.
CDK Global (NASDAQ:CDK) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03. The business earned $542.20 million during the quarter, compared to the consensus estimate of $533.84 million. CDK Global had a net margin of 11.32% and a return on equity of 45.25%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.28 earnings per share. On average, equities analysts forecast that CDK Global will post $2.32 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend was Wednesday, September 14th. CDK Global’s dividend payout ratio (DPR) is 35.76%.
Several institutional investors have recently modified their holdings of CDK. WFG Advisors LP increased its position in shares of CDK Global by 0.8% in the second quarter. WFG Advisors LP now owns 1,803 shares of the company’s stock valued at $100,000 after buying an additional 15 shares during the period. Van ECK Associates Corp increased its position in shares of CDK Global by 37.5% in the second quarter. Van ECK Associates Corp now owns 2,087 shares of the company’s stock valued at $116,000 after buying an additional 569 shares during the period. M&R Capital Management Inc. purchased a new position in shares of CDK Global during the second quarter valued at approximately $182,000. Strs Ohio increased its position in shares of CDK Global by 21.7% in the second quarter. Strs Ohio now owns 3,394 shares of the company’s stock valued at $188,000 after buying an additional 606 shares during the period. Finally, Point72 Asia Hong Kong Ltd purchased a new position in shares of CDK Global during the second quarter valued at approximately $196,000. 85.39% of the stock is owned by hedge funds and other institutional investors.
CDK Global Company Profile
CDK Global, Inc is a provider of integrated information technology and digital marketing/advertising solutions to the automotive retail industry. The Company’s segments are Automotive Retail North America (ARNA), Automotive Retail International (ARI) and Digital Marketing (DM). The Company’s solutions automate workflow processes from pre-sale targeted advertising and marketing campaigns to the sale, financing, insurance, parts supply, and repair and maintenance of vehicles.
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