CDK Global (CDK) Upgraded at ValuEngine

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ValuEngine upgraded shares of CDK Global (NASDAQ:CDK) from a sell rating to a hold rating in a research note published on Monday morning.

CDK has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of CDK Global from a sell rating to a hold rating in a research report on Friday, January 11th. Oppenheimer set a $67.00 price objective on shares of CDK Global and gave the company a buy rating in a research report on Tuesday, February 5th. Finally, BidaskClub lowered shares of CDK Global from a buy rating to a hold rating in a research report on Friday, March 15th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. CDK Global presently has an average rating of Hold and a consensus price target of $67.25.

NASDAQ CDK opened at $57.77 on Monday. CDK Global has a 52-week low of $44.01 and a 52-week high of $67.97. The stock has a market cap of $7.15 billion, a P/E ratio of 16.42 and a beta of 0.72.

CDK Global (NASDAQ:CDK) last posted its quarterly earnings data on Tuesday, February 5th. The software maker reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.12. The business had revenue of $590.40 million during the quarter, compared to the consensus estimate of $578.91 million. CDK Global had a net margin of 16.36% and a negative return on equity of 135.00%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.87 earnings per share. As a group, analysts forecast that CDK Global will post 3.64 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 1st will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Thursday, February 28th. CDK Global’s dividend payout ratio is currently 19.74%.

A number of institutional investors and hedge funds have recently made changes to their positions in CDK. LSV Asset Management purchased a new position in shares of CDK Global during the fourth quarter worth approximately $2,922,000. MetLife Investment Advisors LLC raised its stake in shares of CDK Global by 1.9% during the third quarter. MetLife Investment Advisors LLC now owns 79,248 shares of the software maker’s stock worth $4,958,000 after acquiring an additional 1,496 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of CDK Global by 5.9% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 16,777 shares of the software maker’s stock worth $803,000 after acquiring an additional 940 shares in the last quarter. Cerebellum GP LLC increased its stake in shares of CDK Global by 85.6% in the fourth quarter. Cerebellum GP LLC now owns 5,438 shares of the software maker’s stock worth $260,000 after buying an additional 2,508 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of CDK Global by 7.7% in the fourth quarter. Arizona State Retirement System now owns 126,553 shares of the software maker’s stock worth $6,059,000 after buying an additional 9,075 shares during the period. 81.69% of the stock is currently 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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