CDK Global (NASDAQ:CDK) Stock Rating Lowered by BidaskClub

BidaskClub cut shares of CDK Global (NASDAQ:CDK) from a hold rating to a sell rating in a research report released on Wednesday, June 26th, BidAskClub reports.

A number of other research firms also recently issued reports on CDK. ValuEngine raised shares of Yirendai from a strong sell rating to a sell rating in a research report on Friday, May 3rd. Zacks Investment Research lowered GALP ENERGIA SG/ADR from a hold rating to a sell rating in a research note on Monday, May 6th. Finally, Barrington Research reaffirmed a buy rating and issued a $6.50 price target on shares of CLEAR CHANNEL O/SH in a research note on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. CDK Global has a consensus rating of Hold and an average target price of $67.75.

CDK Global stock traded up $0.22 during trading hours on Wednesday, hitting $51.04. 372,423 shares of the stock were exchanged, compared to its average volume of 973,290. CDK Global has a 12 month low of $44.01 and a 12 month high of $67.97. The stock has a 50-day moving average of $49.29. The stock has a market capitalization of $6.19 billion, a PE ratio of 16.70, a P/E/G ratio of 1.32 and a beta of 0.85.

CDK Global (NASDAQ:CDK) last issued its earnings results on Tuesday, April 30th. The software maker reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.08. CDK Global had a net margin of 16.34% and a negative return on equity of 113.53%. The firm had revenue of $602.10 million during the quarter, compared to the consensus estimate of $596.47 million. During the same quarter in the prior year, the firm earned $0.85 earnings per share. On average, sell-side analysts anticipate that CDK Global will post 3.62 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Monday, June 3rd were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Friday, May 31st. CDK Global’s payout ratio is 19.74%.

In related news, General Counsel Lee J. Brunz sold 1,000 shares of CDK Global stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $50.74, for a total transaction of $50,740.00. Following the completion of the transaction, the general counsel now directly owns 37,927 shares in the company, valued at $1,924,415.98. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.50% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bruderman Asset Management LLC lifted its position in CDK Global by 722.7% during the fourth quarter. Bruderman Asset Management LLC now owns 543 shares of the software maker’s stock worth $26,000 after buying an additional 477 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of CDK Global in the 1st quarter valued at $33,000. Cordasco Financial Network acquired a new position in shares of CDK Global during the 2nd quarter worth about $33,000. Liberty Wealth Management LLC acquired a new position in shares of CDK Global during the 4th quarter worth about $32,000. Finally, Icon Wealth Partners LLC acquired a new position in shares of CDK Global during the 1st quarter worth about $59,000. 82.36% of the stock is currently 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.

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