CDK Global Inc (NASDAQ:CDK) – Stock analysts at Oppenheimer dropped their Q2 2019 earnings per share estimates for CDK Global in a research report issued to clients and investors on Wednesday, November 7th. Oppenheimer analyst I. Zaffino now expects that the software maker will post earnings per share of $0.91 for the quarter, down from their prior forecast of $0.92. Oppenheimer has a “Buy” rating and a $67.00 price target on the stock. Oppenheimer also issued estimates for CDK Global’s Q3 2019 earnings at $0.90 EPS.
Several other equities research analysts also recently commented on CDK. ValuEngine downgraded CDK Global from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. BidaskClub downgraded CDK Global from a “sell” rating to a “strong sell” rating in a report on Thursday, August 2nd. Barrington Research restated a “buy” rating and set a $80.00 price objective on shares of CDK Global in a report on Monday, August 13th. Morgan Stanley decreased their price objective on CDK Global from $75.00 to $68.00 and set an “equal weight” rating for the company in a report on Wednesday, August 15th. Finally, Zacks Investment Research downgraded CDK Global from a “hold” rating to a “sell” rating in a report on Monday, August 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. CDK Global has an average rating of “Hold” and a consensus target price of $72.20.
NASDAQ CDK opened at $50.77 on Monday. The company has a market cap of $6.57 billion, a PE ratio of 16.70, a PEG ratio of 1.37 and a beta of 0.76. CDK Global has a 52 week low of $50.50 and a 52 week high of $76.04.
CDK Global (NASDAQ:CDK) last released its quarterly earnings data on Wednesday, November 7th. The software maker reported $0.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.06. The firm had revenue of $554.50 million during the quarter, compared to the consensus estimate of $560.52 million. CDK Global had a negative return on equity of 173.86% and a net margin of 17.23%. The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.68 earnings per share.
In related news, VP Jennifer A. Williams sold 4,114 shares of the company’s stock in a transaction on Monday, August 27th. The stock was 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 owns 5,012 shares in the company, valued at $308,989.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.50% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. WealthTrust Fairport LLC bought a new stake in CDK Global during the third quarter worth $104,000. Qube Research & Technologies Ltd bought a new stake in CDK Global during the second quarter worth $109,000. Fort L.P. bought a new stake in CDK Global during the second quarter worth $121,000. Legacy Financial Advisors Inc. grew its holdings in CDK Global by 91.0% during 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. Finally, Itau Unibanco Holding S.A. bought a new stake in CDK Global during the second quarter worth $170,000. Institutional investors and hedge funds own 82.16% of the company’s stock.
About CDK Global
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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