Shares of CDK Global Inc (NASDAQ:CDK) have received an average rating of “Buy” from the eight ratings firms that are covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $67.25.
A number of equities analysts recently issued reports on CDK shares. BidaskClub upgraded CDK Global from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Zacks Investment Research upgraded CDK Global from a “sell” rating to a “hold” rating in a research note on Friday, January 11th. Oppenheimer set a $67.00 target price on CDK Global and gave the stock a “buy” rating in a research note on Tuesday, February 5th. Finally, ValuEngine upgraded CDK Global from a “sell” rating to a “hold” rating in a research note on Monday, March 25th.
A number of hedge funds have recently modified their holdings of the stock. Whittier Trust Co. grew its position in CDK Global by 3.1% during the 4th quarter. Whittier Trust Co. now owns 6,326 shares of the software maker’s stock worth $303,000 after purchasing an additional 192 shares during the period. Financial Advocates Investment Management grew its position in shares of CDK Global by 27.6% during the 4th quarter. Financial Advocates Investment Management now owns 1,045 shares of the software maker’s stock valued at $183,000 after acquiring an additional 226 shares during the period. Benjamin F. Edwards & Company Inc. grew its position in shares of CDK Global by 24.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,442 shares of the software maker’s stock valued at $69,000 after acquiring an additional 282 shares during the period. Cardinal Capital Management grew its position in shares of CDK Global by 1.6% during the 4th quarter. Cardinal Capital Management now owns 18,311 shares of the software maker’s stock valued at $876,000 after acquiring an additional 294 shares during the period. Finally, Bruderman Asset Management LLC grew its position in shares of CDK Global by 722.7% during the 4th quarter. Bruderman Asset Management LLC now owns 543 shares of the software maker’s stock valued at $26,000 after acquiring an additional 477 shares during the period. Institutional investors own 81.69% of the company’s stock.
CDK Global (NASDAQ:CDK) last issued its quarterly earnings data on Tuesday, February 5th. The software maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.86 by $0.12. CDK Global had a negative return on equity of 135.00% and a net margin of 16.36%. The firm had revenue of $590.40 million during the quarter, compared to analyst estimates of $578.91 million. During the same quarter in the prior year, the business posted $0.87 EPS. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, sell-side analysts expect that CDK Global will post 3.64 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were paid a $0.15 dividend. The ex-dividend date was Thursday, February 28th. This represents a $0.60 dividend on an annualized basis and a yield of 1.02%. CDK Global’s dividend payout ratio (DPR) is 19.74%.
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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