Shares of CDK Global Inc. (NASDAQ:CDK) have received a consensus rating of “Hold” from the six brokerages that are covering the firm. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $57.00.
Several equities analysts have recently issued reports on the company. Zacks Investment Research cut CDK Global from a “buy” rating to a “hold” rating in a report on Wednesday, October 5th. William Blair assumed coverage on CDK Global in a report on Wednesday. They issued a “market perform” rating for the company.
A number of institutional investors have recently added to or reduced their stakes in CDK. Sachem Head Capital Management LP raised its stake in CDK Global by 3.8% in the first quarter. Sachem Head Capital Management LP now owns 11,523,377 shares of the company’s stock valued at $536,413,000 after buying an additional 426,044 shares during the period. HBK Investments L P purchased a new stake in CDK Global during the first quarter valued at approximately $917,000. Geode Capital Management LLC raised its stake in CDK Global by 5.3% in the first quarter. Geode Capital Management LLC now owns 1,016,725 shares of the company’s stock valued at $47,305,000 after buying an additional 51,216 shares during the period. Quadrature Capital Ltd purchased a new stake in CDK Global during the first quarter valued at approximately $548,000. Finally, Rafferty Asset Management LLC purchased a new stake in CDK Global during the first quarter valued at approximately $1,525,000. 85.36% of the stock is owned by institutional investors.
CDK Global (NASDAQ:CDK) opened at 54.54 on Wednesday. The firm’s 50-day moving average price is $57.01 and its 200 day moving average price is $54.51. The stock has a market cap of $8.19 billion, a PE ratio of 36.12 and a beta of 0.65. CDK Global has a 12-month low of $39.67 and a 12-month high of $60.09.
CDK Global (NASDAQ:CDK) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.49 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.03. CDK Global had a return on equity of 45.25% and a net margin of 11.32%. The company earned $542.20 million during the quarter, compared to analysts’ expectations of $533.84 million. During the same quarter in the previous year, the firm posted $0.28 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. Analysts anticipate that CDK Global will post $2.32 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were issued a $0.135 dividend. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $0.54 dividend on an annualized basis and a yield of 0.99%. CDK Global’s payout ratio is 35.76%.