Brokerages expect that CDK Global, Inc. (NASDAQ:CDK) will report $557.00 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for CDK Global’s earnings, with estimates ranging from $555.00 million to $562.00 million. CDK Global reported sales of $542.20 million in the same quarter last year, which indicates a positive year-over-year growth rate of 2.7%. The firm is expected to report its next quarterly earnings report before the market opens on Tuesday, August 1st.
On average, analysts expect that CDK Global will report full-year sales of $557.00 million for the current fiscal year, with estimates ranging from $2.21 billion to $2.22 billion. For the next year, analysts anticipate that the business will post sales of $2.32 billion per share, with estimates ranging from $2.31 billion to $2.34 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow CDK Global.
CDK Global (NASDAQ:CDK) last issued its quarterly earnings results on Tuesday, May 2nd. The software maker reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.08. The company had revenue of $556.30 million for the quarter, compared to the consensus estimate of $556.98 million. CDK Global had a return on equity of 126.04% and a net margin of 13.44%. The firm’s revenue was up 3.5% compared to the same quarter last year. During the same period last year, the business posted $0.42 earnings per share.
A number of brokerages have recently issued reports on CDK. Zacks Investment Research cut shares of CDK Global from a “buy” rating to a “hold” rating in a report on Tuesday, April 18th. TheStreet raised shares of CDK Global from a “d+” rating to a “c” rating in a report on Monday, May 8th. Wells Fargo & Company raised shares of CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a report on Wednesday, June 21st. Finally, Evercore ISI raised shares of CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 target price on the stock in a report on Monday, July 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $71.75.
Shares of CDK Global (NASDAQ CDK) opened at 63.89 on Friday. The firm has a market capitalization of $9.28 billion, a P/E ratio of 32.68 and a beta of 0.73. The stock has a 50 day moving average price of $61.74 and a 200 day moving average price of $63.04. CDK Global has a 12 month low of $53.46 and a 12 month high of $67.49.
The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Tuesday, June 20th were issued a $0.14 dividend. The ex-dividend date was Friday, June 16th. This represents a $0.56 annualized dividend and a yield of 0.88%. CDK Global’s dividend payout ratio is currently 28.57%.
In related news, insider Brian P. Macdonald purchased 5,000 shares of the stock in a transaction on Friday, May 26th. The shares were purchased at an average cost of $60.47 per share, with a total value of $302,350.00. Following the acquisition, the insider now directly owns 96,877 shares in the company, valued at $5,858,152.19. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.34% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CDK. Russell Investments Group Ltd. bought a new position in CDK Global during the fourth quarter valued at $1,206,000. Dimensional Fund Advisors LP boosted its position in CDK Global by 7.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 365,884 shares of the software maker’s stock valued at $21,842,000 after buying an additional 25,969 shares in the last quarter. Norges Bank bought a new position in CDK Global during the fourth quarter valued at $65,428,000. Quadrature Capital Ltd bought a new position in CDK Global during the fourth quarter valued at $214,000. Finally, Whalerock Point Partners LLC raised its position in shares of CDK Global by 1.5% in the fourth quarter. Whalerock Point Partners LLC now owns 7,608 shares of the software maker’s stock worth $454,000 after buying an additional 116 shares during the last quarter. 83.99% of the stock is currently owned by hedge funds and other institutional investors.
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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