CDK Global (NASDAQ:CDK) – Investment analysts at William Blair issued their Q1 2020 earnings estimates for CDK Global in a research report issued to clients and investors on Tuesday, March 20th, according to Zacks Investment Research. William Blair analyst M. Pfau expects that the software maker will earn $1.21 per share for the quarter. William Blair also issued estimates for CDK Global’s Q2 2020 earnings at $1.24 EPS.
CDK has been the subject of several other research reports. Barrington Research reiterated a “hold” rating on shares of CDK Global in a report on Monday, March 26th. BidaskClub downgraded shares of CDK Global from a “sell” rating to a “strong sell” rating in a report on Wednesday, February 21st. Morgan Stanley lifted their target price on shares of CDK Global from $76.00 to $77.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. Zacks Investment Research cut shares of CDK Global from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 3rd. Finally, Wells Fargo reissued an “outperform” rating and issued a $80.00 price target (up previously from $75.00) on shares of CDK Global in a research report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $76.80.
CDK Global (NASDAQ:CDK) last posted its earnings results on Tuesday, January 30th. The software maker reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.17. CDK Global had a net margin of 14.29% and a negative return on equity of 5,261.95%. The firm had revenue of $561.70 million during the quarter, compared to the consensus estimate of $564.94 million. During the same quarter last year, the firm earned $0.55 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Thursday, March 1st were given a $0.15 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.60 annualized dividend and a yield of 0.92%. CDK Global’s dividend payout ratio is presently 24.69%.
In other news, EVP Scott L. Mathews sold 5,514 shares of CDK Global stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $68.91, for a total transaction of $379,969.74. Following the completion of the sale, the executive vice president now directly owns 48,520 shares of the company’s stock, valued at approximately $3,343,513.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Rajiv K. Amar sold 1,968 shares of CDK Global stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $69.85, for a total transaction of $137,464.80. Following the sale, the insider now directly owns 11,072 shares of the company’s stock, valued at $773,379.20. The disclosure for this sale can be found here. Company insiders own 0.39% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Ingalls & Snyder LLC purchased a new stake in shares of CDK Global during the 4th quarter worth $373,000. First Mercantile Trust Co. purchased a new stake in shares of CDK Global during the 4th quarter worth $357,000. Pinebridge Investments L.P. lifted its position in shares of CDK Global by 13.5% during the 4th quarter. Pinebridge Investments L.P. now owns 49,182 shares of the software maker’s stock worth $3,506,000 after purchasing an additional 5,866 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of CDK Global by 2.9% during the 4th quarter. Wells Fargo & Company MN now owns 554,503 shares of the software maker’s stock worth $39,524,000 after purchasing an additional 15,866 shares during the last quarter. Finally, Pensionfund Sabic purchased a new stake in shares of CDK Global during the 4th quarter worth $1,568,000. 85.68% of the stock is owned by institutional investors and hedge funds.
About CDK Global
CDK Global, Inc provides integrated information technology and digital marketing solutions to the automotive retail and other industries worldwide. The company operates through Retail Solutions North America, Advertising North America, and CDK International segments. It offers technology-based solutions, including automotive Website platforms; and advertising solutions comprising the management of digital advertising spend for original equipment manufacturers and automotive retailers.
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