CDK Global, Inc. (CDK) Declares $0.14 Quarterly Dividend

CDK Global, Inc. (NASDAQ:CDK) announced a quarterly dividend on Wednesday, August 9th, Wall Street Journal reports. Investors of record on Monday, September 11th will be paid a dividend of 0.14 per share by the software maker on Friday, September 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, September 8th.

Shares of CDK Global (CDK) traded down 0.56% during mid-day trading on Friday, hitting $62.10. 711,745 shares of the company were exchanged. The firm has a 50 day moving average of $63.18 and a 200 day moving average of $63.72. CDK Global has a 12-month low of $53.46 and a 12-month high of $67.49. The company has a market capitalization of $8.70 billion, a price-to-earnings ratio of 31.21 and a beta of 0.74.

CDK Global (NASDAQ:CDK) last posted its quarterly earnings data on Tuesday, August 1st. The software maker reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.01. The company had revenue of $565.40 million for the quarter, compared to analyst estimates of $556.68 million. CDK Global had a return on equity of 204.80% and a net margin of 13.31%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 earnings per share. Equities research analysts forecast that CDK Global will post $2.95 earnings per share for the current year.

A number of equities analysts recently commented on CDK shares. Zacks Investment Research raised CDK Global from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Thursday, May 4th. TheStreet raised CDK Global from a “d+” rating to a “c” rating in a research note on Monday, May 8th. Wells Fargo & Company raised CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 price target on the stock in a research note on Wednesday, June 21st. Evercore ISI raised CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 price target on the stock in a research note on Monday, July 10th. Finally, BidaskClub raised CDK Global from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. CDK Global presently has an average rating of “Buy” and an average price target of $71.75.

In other news, insider Brian P. Macdonald bought 5,000 shares of the stock in a transaction dated Friday, May 26th. The shares were bought at an average cost of $60.47 per share, with a total value of $302,350.00. Following the completion of the transaction, the insider now directly owns 96,877 shares of the company’s stock, valued at $5,858,152.19. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is currently owned by insiders.

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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.

Dividend History for CDK Global (NASDAQ:CDK)

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