CDK Global, Inc. (CDK) Cut to “Hold” at BidaskClub

CDK Global, Inc. (NASDAQ:CDK) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a report issued on Thursday.

Other equities analysts have also recently issued research reports about the stock. TheStreet upgraded shares of CDK Global from a “c+” rating to a “b-” rating in a research note on Thursday, October 19th. Barrington Research set a $75.00 price objective on shares of CDK Global and gave the company a “buy” rating in a research note on Tuesday. Zacks Investment Research upgraded shares of CDK Global from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research note on Tuesday, October 3rd. Finally, Evercore ISI upgraded shares of CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 price objective for the company in a research note on Monday, July 10th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $72.60.

CDK Global (NASDAQ:CDK) last announced its quarterly earnings data on Tuesday, October 31st. The software maker reported $0.68 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.68. CDK Global had a net margin of 13.42% and a return on equity of 515.77%. The company had revenue of $565.70 million during the quarter, compared to analysts’ expectations of $569.28 million. During the same quarter in the prior year, the company posted $0.60 EPS. The business’s revenue was up 2.7% on a year-over-year basis.

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Several institutional investors have recently made changes to their positions in the stock. Alps Advisors Inc. increased its position in shares of CDK Global by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 7,214 shares of the software maker’s stock worth $448,000 after purchasing an additional 19 shares in the last quarter. Alpha Windward LLC increased its position in shares of CDK Global by 2.3% during the 2nd quarter. Alpha Windward LLC now owns 1,618 shares of the software maker’s stock worth $100,000 after purchasing an additional 36 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its position in shares of CDK Global by 0.5% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 19,191 shares of the software maker’s stock worth $1,191,000 after purchasing an additional 100 shares in the last quarter. Commonwealth Bank of Australia increased its position in shares of CDK Global by 0.7% during the 2nd quarter. Commonwealth Bank of Australia now owns 13,600 shares of the software maker’s stock worth $844,000 after purchasing an additional 100 shares in the last quarter. Finally, World Asset Management Inc increased its position in shares of CDK Global by 1.0% during the 2nd quarter. World Asset Management Inc now owns 10,385 shares of the software maker’s stock worth $644,000 after purchasing an additional 105 shares in the last quarter. Institutional investors and hedge funds own 84.92% 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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