CDK Global Inc (NASDAQ:CDK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, May 4th. The brokerage presently has a $70.00 target price on the software maker’s stock. Zacks Investment Research‘s price target points to a potential upside of 15.23% from the stock’s current price.
According to Zacks, “CDK Global, Inc. provides integrated information technology and digital marketing solutions to the automotive retail industry. The Company operates in three segments: Automotive Retail Solutions North America, Automotive Retail Solutions International, and Digital Marketing Solutions. It integrates workflow processes from pre-sale targeted advertising and marketing campaigns to the sale, financing, insurance, parts supply, repair and maintenance of vehicles. CDK Global, Inc. is based in Hoffman Estates, Illinois. “
A number of other brokerages have also recently weighed in on CDK. Morgan Stanley raised shares of CDK Global from an “underweight” rating to an “equal weight” rating and set a $70.00 price target on the stock in a research report on Friday, February 3rd. TheStreet cut shares of CDK Global from a “b-” rating to a “d+” rating in a research report on Thursday, February 2nd.
CDK Global (NASDAQ:CDK) traded up 1.35% on Thursday, hitting $61.57. The stock had a trading volume of 379,251 shares. The company’s 50 day moving average is $63.70 and its 200 day moving average is $62.10. The firm has a market cap of $8.94 billion, a PE ratio of 31.49 and a beta of 0.72. CDK Global has a 12-month low of $51.52 and a 12-month high of $67.49.
CDK Global (NASDAQ:CDK) last issued its quarterly earnings results on Tuesday, May 2nd. The software maker reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.08. The business had revenue of $556.30 million during the quarter, compared to analyst estimates of $556.98 million. CDK Global had a net margin of 12.47% and a return on equity of 83.46%. CDK Global’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.42 earnings per share. On average, equities research analysts expect that CDK Global will post $2.43 EPS for the current fiscal year.
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In other CDK Global news, Director Stephen A. Miles sold 9,197 shares of CDK Global stock in a transaction on Friday, March 10th. The shares were sold at an average price of $66.47, for a total value of $611,324.59. Following the sale, the director now directly owns 30,707 shares in the company, valued at approximately $2,041,094.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. FineMark National Bank & Trust raised its position in CDK Global by 180.7% in the third quarter. FineMark National Bank & Trust now owns 1,864 shares of the software maker’s stock valued at $107,000 after buying an additional 1,200 shares in the last quarter. Woodmont Investment Counsel LLC purchased a new position in CDK Global during the third quarter valued at $116,000. TrimTabs Asset Management LLC raised its position in CDK Global by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 1,837 shares of the software maker’s stock valued at $119,000 after buying an additional 864 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its position in CDK Global by 1.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,979 shares of the software maker’s stock valued at $129,000 after buying an additional 23 shares in the last quarter. Finally, Acrospire Investment Management LLC raised its position in CDK Global by 17.6% in the first quarter. Acrospire Investment Management LLC now owns 2,000 shares of the software maker’s stock valued at $130,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 82.92% of the company’s stock.
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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