CDK Global (NASDAQ:CDK) Lowered to Hold at BidaskClub

BidaskClub lowered shares of CDK Global (NASDAQ:CDK) from a buy rating to a hold rating in a research note released on Thursday, BidAskClub reports.

CDK has been the subject of a number of other reports. Wells Fargo & Co raised CDK Global from an equal weight rating to an overweight rating and set a $65.00 price target for the company in a report on Thursday, January 9th. ValuEngine raised CDK Global from a sell rating to a hold rating in a report on Tuesday, December 31st. Zacks Investment Research raised CDK Global from a hold rating to a buy rating and set a $62.00 price target for the company in a report on Tuesday, January 7th. Finally, Morgan Stanley began coverage on CDK Global in a report on Thursday, December 5th. They set an equal weight rating and a $57.00 price target for the company. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. CDK Global has a consensus rating of Buy and an average price target of $63.20.

NASDAQ CDK traded down $0.79 during trading on Thursday, reaching $54.51. 497,473 shares of the company’s stock were exchanged, compared to its average volume of 620,663. The stock has a market cap of $6.70 billion, a P/E ratio of 60.57, a price-to-earnings-growth ratio of 1.63 and a beta of 0.92. The company has a 50 day moving average price of $55.08 and a two-hundred day moving average price of $50.34. CDK Global has a 1 year low of $41.50 and a 1 year high of $63.90.

CDK Global (NASDAQ:CDK) last announced its quarterly earnings results on Tuesday, November 5th. The software maker reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.10. The company had revenue of $494.60 million during the quarter, compared to the consensus estimate of $485.00 million. CDK Global had a negative return on equity of 72.27% and a net margin of 5.32%. CDK Global’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.89 EPS. As a group, research analysts anticipate that CDK Global will post 3.22 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 2nd were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Friday, November 29th. CDK Global’s payout ratio is currently 19.11%.

In other news, General Counsel Lee J. Brunz sold 1,000 shares of the business’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $56.23, for a total value of $56,230.00. Following the completion of the sale, the general counsel now directly owns 40,569 shares of the company’s stock, valued at approximately $2,281,194.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 3,000 shares of company stock valued at $163,340 over the last three months. Company insiders own 0.36% of the company’s stock.

Several institutional investors have recently bought and sold shares of CDK. River & Mercantile Asset Management LLP purchased a new stake in shares of CDK Global in the 2nd quarter valued at about $31,000. AdvisorNet Financial Inc raised its stake in CDK Global by 73.9% during the 3rd quarter. AdvisorNet Financial Inc now owns 654 shares of the software maker’s stock valued at $31,000 after acquiring an additional 278 shares during the last quarter. Clean Yield Group raised its stake in CDK Global by 277.8% during the 4th quarter. Clean Yield Group now owns 646 shares of the software maker’s stock valued at $35,000 after acquiring an additional 475 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in CDK Global during the 3rd quarter valued at approximately $37,000. Finally, Point72 Asset Management L.P. purchased a new stake in CDK Global during the 2nd quarter valued at approximately $44,000. 81.58% of the stock is owned by institutional investors and hedge funds.

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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