Brokerages Set CDK Global Inc (NASDAQ:CDK) Price Target at $64.50

Shares of CDK Global Inc (NASDAQ:CDK) have earned a consensus recommendation of “Hold” from the eight research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $64.50.

A number of research firms recently commented on CDK. Zacks Investment Research cut GALP ENERGIA SG/ADR from a “hold” rating to a “sell” rating in a report on Monday, May 6th. ValuEngine raised Yirendai from a “strong sell” rating to a “sell” rating in a report on Friday, May 3rd. BidaskClub raised Zebra Technologies from a “hold” rating to a “buy” rating in a report on Saturday, July 6th. Finally, Barrington Research reissued a “buy” rating and issued a $6.50 price target on shares of CLEAR CHANNEL O/SH in a report on Monday, April 29th.

NASDAQ CDK traded up $0.81 during trading hours on Friday, hitting $50.68. The company’s stock had a trading volume of 406,606 shares, compared to its average volume of 987,074. CDK Global has a 12 month low of $44.01 and a 12 month high of $67.97. The stock has a 50 day moving average price of $49.23. The company has a market capitalization of $6.09 billion, a P/E ratio of 16.62, a P/E/G ratio of 1.30 and a beta of 0.85.

CDK Global (NASDAQ:CDK) last released its quarterly earnings results on Tuesday, April 30th. The software maker reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.08. The business had revenue of $602.10 million during the quarter, compared to the consensus estimate of $596.47 million. CDK Global had a negative return on equity of 113.53% and a net margin of 16.34%. During the same period in the previous year, the company posted $0.85 EPS. Equities analysts forecast that CDK Global will post 3.62 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Monday, June 3rd were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.18%. The ex-dividend date was Friday, May 31st. CDK Global’s dividend payout ratio (DPR) is presently 19.74%.

Several institutional investors and hedge funds have recently bought and sold shares of CDK. Norges Bank bought a new position in shares of CDK Global during the 4th quarter worth $70,821,000. Fundsmith LLP purchased a new stake in shares of CDK Global during the 4th quarter worth $44,182,000. JPMorgan Chase & Co. lifted its stake in shares of CDK Global by 373.1% during the 1st quarter. JPMorgan Chase & Co. now owns 1,054,155 shares of the software maker’s stock worth $62,005,000 after purchasing an additional 831,335 shares during the last quarter. Lakewood Capital Management LP lifted its stake in shares of CDK Global by 55.2% during the 4th quarter. Lakewood Capital Management LP now owns 2,109,717 shares of the software maker’s stock worth $101,013,000 after purchasing an additional 750,000 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of CDK Global by 975.9% during the 1st quarter. Janus Henderson Group PLC now owns 557,107 shares of the software maker’s stock worth $32,768,000 after purchasing an additional 505,327 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

About CDK Global

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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