$577.96 Million in Sales Expected for CDK Global Inc (CDK) This Quarter

Equities research analysts predict that CDK Global Inc (NASDAQ:CDK) will post sales of $577.96 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for CDK Global’s earnings, with estimates ranging from $575.80 million to $580.50 million. CDK Global posted sales of $556.30 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.9%. The business is expected to issue its next earnings results on Tuesday, May 1st.

On average, analysts expect that CDK Global will report full year sales of $577.96 million for the current year, with estimates ranging from $2.29 billion to $2.31 billion. For the next fiscal year, analysts expect that the company will post sales of $2.39 billion per share, with estimates ranging from $2.37 billion to $2.41 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover CDK Global.

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CDK Global (NASDAQ:CDK) last announced its earnings results on Tuesday, January 30th. The software maker reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.17. The business had revenue of $561.70 million during the quarter, compared to the consensus estimate of $564.94 million. CDK Global had a net margin of 14.29% and a negative return on equity of 5,261.95%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 earnings per share.

CDK has been the subject of several analyst reports. Zacks Investment Research upgraded shares of CDK Global from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research note on Wednesday, January 31st. Morgan Stanley upped their target price on shares of CDK Global from $76.00 to $77.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. Barrington Research restated a “hold” rating on shares of CDK Global in a research note on Monday, March 26th. Wells Fargo reiterated an “outperform” rating and set a $80.00 price objective (up from $75.00) on shares of CDK Global in a research note on Wednesday, January 31st. Finally, BidaskClub downgraded shares of CDK Global from a “hold” rating to a “sell” rating in a research note on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $76.80.

In other CDK Global news, EVP Scott L. Mathews sold 5,514 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $68.91, for a total transaction of $379,969.74. Following the transaction, the executive vice president now directly owns 48,520 shares in the company, valued at approximately $3,343,513.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Rajiv K. Amar sold 1,968 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $69.85, for a total transaction of $137,464.80. Following the completion of the transaction, the insider now owns 11,072 shares in the company, valued at $773,379.20. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.

Several institutional investors have recently bought and sold shares of CDK. Amundi Pioneer Asset Management Inc. bought a new position in shares of CDK Global in the 4th quarter worth about $24,174,000. Schroder Investment Management Group lifted its position in shares of CDK Global by 16,000.0% in the 4th quarter. Schroder Investment Management Group now owns 322,000 shares of the software maker’s stock worth $22,952,000 after buying an additional 320,000 shares during the last quarter. Two Sigma Advisers LP lifted its position in shares of CDK Global by 50.5% in the 4th quarter. Two Sigma Advisers LP now owns 862,600 shares of the software maker’s stock worth $61,486,000 after buying an additional 289,400 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. lifted its position in shares of CDK Global by 18,000.0% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 199,100 shares of the software maker’s stock worth $251,000 after buying an additional 198,000 shares during the last quarter. Finally, Pennant Capital Management LLC increased its holdings in shares of CDK Global by 48.0% in the 4th quarter. Pennant Capital Management LLC now owns 554,103 shares of the software maker’s stock worth $39,496,000 after acquiring an additional 179,803 shares during the period. Institutional investors own 85.63% of the company’s stock.

Shares of CDK stock traded down $0.93 on Monday, hitting $62.41. The stock had a trading volume of 1,231,928 shares, compared to its average volume of 1,296,531. The company has a market capitalization of $8,522.94, a PE ratio of 25.68, a price-to-earnings-growth ratio of 1.30 and a beta of 0.78. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of -11.19. CDK Global has a 52-week low of $59.33 and a 52-week high of $76.04.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Thursday, March 1st were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, February 28th. This represents a $0.60 dividend on an annualized basis and a yield of 0.96%. CDK Global’s dividend payout ratio (DPR) is 24.69%.

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About CDK Global

CDK Global, Inc provides integrated information technology and digital marketing solutions. The Company’s segments include Retail Solutions North America, Advertising North America and CDK International. Through its Retail Solutions North America segment, the Company provides technology-based solutions, including automotive Website platforms, that help automotive retailers, original equipment manufacturers (OEMs) and other industry participants manage the acquisition, sale, financing, insuring, parts supply, repair and maintenance of vehicles.

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