CDK Global (CDK) PT Set at $67.00 by Oppenheimer

CDK Global (NASDAQ:CDK) received a $67.00 price target from analysts at Oppenheimer in a research report issued on Wednesday. The brokerage presently has a “buy” rating on the software maker’s stock. Oppenheimer’s price objective would indicate a potential upside of 31.40% from the stock’s current price.

CDK has been the topic of a number of other research reports. BidaskClub raised shares of CDK Global from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 24th. Zacks Investment Research downgraded shares of CDK Global from a “hold” rating to a “sell” rating in a research note on Monday, August 20th. ValuEngine downgraded shares of CDK Global from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. Finally, Barrington Research reissued a “buy” rating and issued a $80.00 target price on shares of CDK Global in a research note on Monday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $72.20.

Shares of CDK traded down $0.04 during mid-day trading on Wednesday, reaching $50.99. The company had a trading volume of 72,572 shares, compared to its average volume of 1,091,568. The firm has a market cap of $7.39 billion, a PE ratio of 16.74, a price-to-earnings-growth ratio of 1.54 and a beta of 0.76. CDK Global has a fifty-two week low of $50.83 and a fifty-two week high of $76.04.

CDK Global (NASDAQ:CDK) last announced its quarterly earnings results on Wednesday, November 7th. The software maker reported $0.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.06. The company had revenue of $554.50 million for the quarter, compared to analyst estimates of $560.52 million. CDK Global had a net margin of 16.75% and a negative return on equity of 235.59%. CDK Global’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the business earned $0.68 EPS. Equities research analysts anticipate that CDK Global will post 3.72 EPS for the current year.

In other news, VP Jennifer A. Williams sold 4,114 shares of the firm’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $61.65, for a total value of $253,628.10. Following the transaction, the vice president now owns 5,012 shares of the company’s stock, valued at approximately $308,989.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.50% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. acquired a new position in shares of CDK Global in the 3rd quarter valued at about $427,000. Bank of New York Mellon Corp boosted its holdings in shares of CDK Global by 3.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,434,421 shares of the software maker’s stock valued at $152,298,000 after buying an additional 90,332 shares during the period. Keybank National Association OH boosted its holdings in shares of CDK Global by 9.2% in the 3rd quarter. Keybank National Association OH now owns 16,143 shares of the software maker’s stock valued at $1,010,000 after buying an additional 1,360 shares during the period. Piedmont Investment Advisors Inc. acquired a new position in shares of CDK Global in the 3rd quarter valued at about $587,000. Finally, Swiss National Bank boosted its holdings in shares of CDK Global by 6.1% in the 3rd quarter. Swiss National Bank now owns 447,000 shares of the software maker’s stock valued at $27,964,000 after buying an additional 25,800 shares during the period. 82.16% of the stock is currently owned by hedge funds and other institutional investors.

CDK Global Company Profile

CDK Global, Inc provides software and technology solutions for automotive retailers in the United States and internationally. The company operates through Retail Solutions North America, Advertising North America, and CDK International segments. The company offers Dealer Management System (DMS), a portfolio of layered software applications and services for automotive retailers, original equipment manufacturers (OEMs), consumers, and other industry participants manage the acquisition, sale, financing, insuring, parts supply, and repair and maintenance of vehicles.

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