CDK Global (CDK) Sets New 1-Year High at $71.71

CDK Global, Inc. (NASDAQ:CDK) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $71.71 and last traded at $71.45, with a volume of 1041700 shares. The stock had previously closed at $70.76.

Several brokerages have recently weighed in on CDK. TheStreet upgraded CDK Global from a “c+” rating to a “b-” rating in a report on Thursday, October 19th. BidaskClub upgraded CDK Global from a “hold” rating to a “buy” rating in a report on Wednesday, October 11th. Zacks Investment Research upgraded CDK Global from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a report on Tuesday, October 3rd. Finally, Barrington Research set a $75.00 target price on CDK Global and gave the stock a “buy” rating in a report on Tuesday, October 31st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. CDK Global has a consensus rating of “Buy” and an average price target of $72.60.

The company has a market cap of $9,830.00, a price-to-earnings ratio of 28.35, a price-to-earnings-growth ratio of 1.60 and a beta of 0.78. The company has a debt-to-equity ratio of 297.80, a current ratio of 2.37 and a quick ratio of 2.37.

CDK Global (NASDAQ:CDK) last issued its earnings results on Tuesday, October 31st. The software maker reported $0.68 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.68. The business had revenue of $565.70 million for the quarter, compared to analysts’ expectations of $569.28 million. CDK Global had a return on equity of 515.77% and a net margin of 13.42%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 EPS. equities analysts forecast that CDK Global, Inc. will post 2.97 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Thursday, November 30th. This is a positive change from CDK Global’s previous quarterly dividend of $0.14. CDK Global’s payout ratio is presently 29.13%.

In other news, VP Jennifer A. Williams sold 1,984 shares of CDK Global stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $62.58, for a total transaction of $124,158.72. Following the sale, the vice president now owns 5,560 shares of the company’s stock, valued at approximately $347,944.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.39% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CDK. Koch Industries Inc. raised its position in CDK Global by 13,261.7% in the second quarter. Koch Industries Inc. now owns 1,136,278 shares of the software maker’s stock valued at $1,118,000 after purchasing an additional 1,127,774 shares during the period. Junto Capital Management LP purchased a new stake in shares of CDK Global during the second quarter worth $45,226,000. Arrowstreet Capital Limited Partnership increased its position in shares of CDK Global by 82.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,290,870 shares of the software maker’s stock worth $80,111,000 after acquiring an additional 584,720 shares during the period. BlackRock Inc. increased its position in shares of CDK Global by 4.0% during the second quarter. BlackRock Inc. now owns 13,718,146 shares of the software maker’s stock worth $851,347,000 after acquiring an additional 521,564 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of CDK Global by 186.8% during the second quarter. Renaissance Technologies LLC now owns 762,600 shares of the software maker’s stock worth $47,327,000 after acquiring an additional 496,700 shares during the period. 87.45% of the stock is currently owned by institutional investors.

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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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