CDK Global (CDK) Lowered to Market Perform at Barrington Research

Barrington Research lowered shares of CDK Global (NASDAQ:CDK) from an outperform rating to a market perform rating in a report published on Wednesday morning, Marketbeat reports. The brokerage currently has $75.00 target price on the software maker’s stock. The analysts noted that the move was a valuation call.

Other equities research analysts have also issued reports about the company. BidaskClub lowered CDK Global from a buy rating to a hold rating in a research note on Thursday, November 2nd. TheStreet upgraded CDK Global from a c+ rating to a b- rating in a research note 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 objective on the stock in a research note on Tuesday, October 3rd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $72.60.

CDK Global (NASDAQ:CDK) traded up $0.18 during mid-day trading on Wednesday, hitting $73.38. The stock had a trading volume of 894,032 shares, compared to its average volume of 1,140,000. CDK Global has a 52 week low of $59.33 and a 52 week high of $76.04. The company has a market cap of $10,090.00, a price-to-earnings ratio of 35.62, a P/E/G ratio of 1.65 and a beta of 0.78. The company has a debt-to-equity ratio of 297.80, a quick ratio of 2.37 and a current ratio of 2.37.

CDK Global (NASDAQ:CDK) last released its quarterly earnings data on Tuesday, October 31st. The software maker reported $0.68 earnings per share for the quarter, meeting the consensus estimate of $0.68. CDK Global had a return on equity of 515.77% and a net margin of 13.42%. The company had revenue of $565.70 million for the quarter, compared to analyst estimates of $569.28 million. During the same period in the prior year, the company posted $0.60 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. research analysts expect that CDK Global will post 2.97 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 1st will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.60 annualized dividend and a dividend yield of 0.82%. 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 that occurred on Thursday, November 2nd. The stock was sold at an average price of $62.58, for a total transaction of $124,158.72. Following the sale, the vice president now directly owns 5,560 shares in the company, valued at approximately $347,944.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.39% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. bought a new stake in CDK Global during the 3rd quarter worth approximately $145,000. D.A. Davidson & CO. grew its position in CDK Global by 5.6% during the 2nd quarter. D.A. Davidson & CO. now owns 3,130 shares of the software maker’s stock worth $194,000 after acquiring an additional 167 shares during the last quarter. IFM Investors Pty Ltd bought a new stake in CDK Global during the 3rd quarter worth approximately $275,000. Boothbay Fund Management LLC bought a new stake in CDK Global during the 3rd quarter worth approximately $321,000. Finally, Ingalls & Snyder LLC bought a new stake in CDK Global during the 4th quarter worth approximately $373,000. Institutional investors and hedge funds 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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