CDK Global (CDK) Given a $62.00 Price Target at Morgan Stanley

CDK Global (NASDAQ:CDK) has been given a $62.00 target price by research analysts at Morgan Stanley in a research note issued on Thursday. The brokerage presently has a “hold” rating on the software maker’s stock. Morgan Stanley’s target price suggests a potential upside of 22.12% from the company’s current price.

A number of other analysts have also weighed in on the stock. Wells Fargo & Co lowered shares of CDK Global from an “outperform” rating to a “market perform” rating in a report on Thursday. Oppenheimer set a $67.00 target price on shares of CDK Global and gave the stock a “buy” rating in a report on Wednesday. Barrington Research reiterated a “buy” rating and set a $80.00 target price on shares of CDK Global in a report on Monday, November 5th. BidaskClub upgraded shares of CDK Global from a “sell” rating to a “hold” rating in a report on Wednesday, October 31st. Finally, Zacks Investment Research upgraded shares of CDK Global from a “sell” rating to a “hold” rating in a report on Tuesday, October 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. CDK Global has a consensus rating of “Hold” and an average price target of $72.20.

NASDAQ CDK opened at $50.77 on Thursday. CDK Global has a 12-month low of $50.50 and a 12-month high of $76.04. The stock has a market cap of $6.83 billion, a price-to-earnings ratio of 16.70, a price-to-earnings-growth ratio of 1.43 and a beta of 0.76.

CDK Global (NASDAQ:CDK) last posted its quarterly earnings results on Wednesday, November 7th. The software maker reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.06. CDK Global had a net margin of 17.23% and a negative return on equity of 182.32%. The business had revenue of $554.50 million during the quarter, compared to analyst estimates of $560.52 million. During the same period in the prior year, the business posted $0.68 earnings per share. The company’s revenue was down 2.0% on a year-over-year basis. As a group, equities research analysts anticipate that CDK Global will post 3.71 EPS for the current year.

In other news, VP Jennifer A. Williams sold 4,114 shares of the stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $61.65, for a total transaction of $253,628.10. Following the completion of the sale, the vice president now directly owns 5,012 shares in the company, valued at $308,989.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.50% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Keybank National Association OH raised its stake in CDK Global by 6.5% in the second quarter. Keybank National Association OH now owns 14,783 shares of the software maker’s stock worth $962,000 after buying an additional 897 shares in the last quarter. Legacy Financial Advisors Inc. raised its stake in CDK Global by 91.0% in the second quarter. Legacy Financial Advisors Inc. now owns 1,899 shares of the software maker’s stock worth $128,000 after buying an additional 905 shares in the last quarter. Aurora Investment Counsel raised its stake in CDK Global by 3.2% in the third quarter. Aurora Investment Counsel now owns 29,687 shares of the software maker’s stock worth $1,857,000 after buying an additional 909 shares in the last quarter. Nissay Asset Management Corp Japan ADV raised its stake in CDK Global by 9.9% in the second quarter. Nissay Asset Management Corp Japan ADV now owns 10,487 shares of the software maker’s stock worth $682,000 after buying an additional 949 shares in the last quarter. Finally, Signet Financial Management LLC raised its stake in CDK Global by 1.4% in the second quarter. Signet Financial Management LLC now owns 69,569 shares of the software maker’s stock worth $4,525,000 after buying an additional 949 shares in the last quarter. 82.16% of the stock is owned by 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.

Read More: Analyst Ratings

Receive News & Ratings for CDK Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CDK Global and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit