CDK Global Inc (CDK) Expected to Post Quarterly Sales of $564.89 Million

Analysts expect CDK Global Inc (NASDAQ:CDK) to post $564.89 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for CDK Global’s earnings. The lowest sales estimate is $562.50 million and the highest is $566.00 million. CDK Global posted sales of $547.80 million in the same quarter last year, which suggests a positive year-over-year growth rate of 3.1%. The business is expected to announce its next earnings report before the market opens on Tuesday, January 30th.

On average, analysts expect that CDK Global will report full year sales of $564.89 million for the current year, with estimates ranging from $2.30 billion to $2.31 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.40 billion per share, with estimates ranging from $2.39 billion to $2.41 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover CDK Global.

CDK Global (NASDAQ:CDK) last released its quarterly earnings data on Tuesday, October 31st. The software maker reported $0.68 EPS for the quarter, hitting analysts’ consensus estimates of $0.68. The business had revenue of $565.70 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 EPS.

CDK has been the subject of several recent research reports. Barrington Research downgraded CDK Global from an “outperform” rating to a “market perform” rating and set a $75.00 price target for the company. in a report on Wednesday. They noted that the move was a valuation call. BidaskClub downgraded CDK Global from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. TheStreet upgraded CDK Global from a “c+” rating to a “b-” rating in a report on Thursday, October 19th. Finally, Zacks Investment Research upgraded CDK Global from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a report on Tuesday, October 3rd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. CDK Global currently has a consensus rating of “Hold” and a consensus price target of $72.60.

CDK Global (NASDAQ:CDK) traded down $0.75 during mid-day trading on Thursday, hitting $73.82. The stock had a trading volume of 1,120,000 shares, compared to its average volume of 1,503,591. The firm has a market cap of $10,150.00, a P/E ratio of 35.83, a price-to-earnings-growth ratio of 1.67 and a beta of 0.78. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 297.80. CDK Global has a 1-year low of $59.33 and a 1-year high of $76.04.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 1st will be issued a $0.15 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $0.60 annualized dividend and a yield of 0.81%. CDK Global’s dividend payout ratio is currently 29.13%.

In related news, VP Jennifer A. Williams sold 1,984 shares of the stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $62.58, for a total value of $124,158.72. Following the completion of the sale, the vice president now directly owns 5,560 shares in the company, valued at approximately $347,944.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.39% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CDK. Macquarie Group Ltd. acquired a new stake in shares of CDK Global during the third quarter valued at about $145,000. D.A. Davidson & CO. grew its stake in shares of CDK Global by 5.6% during the second quarter. D.A. Davidson & CO. now owns 3,130 shares of the software maker’s stock valued at $194,000 after acquiring an additional 167 shares in the last quarter. IFM Investors Pty Ltd acquired a new stake in shares of CDK Global during the third quarter valued at about $275,000. Boothbay Fund Management LLC acquired a new stake in shares of CDK Global during the third quarter valued at about $321,000. Finally, BB&T Securities LLC grew its stake in shares of CDK Global by 46.5% during the third quarter. BB&T Securities LLC now owns 5,398 shares of the software maker’s stock valued at $340,000 after acquiring an additional 1,714 shares in the last quarter. Hedge funds and other institutional investors own 87.52% of the company’s stock.

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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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