CDK Global (NASDAQ:CDK) Hits New 12-Month Low at $42.45

CDK Global Inc (NASDAQ:CDK)’s share price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $42.45 and last traded at $42.52, with a volume of 211442 shares trading hands. The stock had previously closed at $43.70.

A number of research analysts have issued reports on the company. ValuEngine upgraded CDK Global from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research cut CDK Global from a “hold” rating to a “strong sell” rating in a research report on Monday. Barrington Research reiterated a “buy” rating and issued a $65.00 target price on shares of CDK Global in a research report on Monday. Finally, BidaskClub cut CDK Global from a “hold” rating to a “sell” rating in a report on Thursday, August 15th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $64.00.

The company has a market capitalization of $5.28 billion, a P/E ratio of 13.58, a PEG ratio of 1.37 and a beta of 0.85. The company has a fifty day moving average price of $49.59 and a two-hundred day moving average price of $53.55.

CDK Global (NASDAQ:CDK) last released its quarterly earnings results on Tuesday, August 13th. The software maker reported $0.88 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.02. The company had revenue of $488.60 million for the quarter, compared to analysts’ expectations of $585.10 million. CDK Global had a negative return on equity of 90.04% and a net margin of 5.55%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.87 earnings per share. Sell-side analysts expect that CDK Global Inc will post 3.19 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Friday, August 30th. CDK Global’s dividend payout ratio (DPR) is currently 19.11%.

In other news, General Counsel Lee J. Brunz sold 1,000 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $50.74, for a total transaction of $50,740.00. Following the sale, the general counsel now directly owns 37,927 shares in the company, valued at $1,924,415.98. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have sold 2,000 shares of company stock worth $96,925. Company insiders own 0.50% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Berman Capital Advisors LLC lifted its stake in shares of CDK Global by 76.0% in the second quarter. Berman Capital Advisors LLC now owns 623 shares of the software maker’s stock worth $30,000 after acquiring an additional 269 shares during the period. Cordasco Financial Network acquired a new position in shares of CDK Global in the second quarter worth approximately $33,000. Wealthcare Advisory Partners LLC lifted its stake in shares of CDK Global by 224.9% in the second quarter. Wealthcare Advisory Partners LLC now owns 692 shares of the software maker’s stock worth $34,000 after acquiring an additional 479 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of CDK Global in the second quarter worth approximately $44,000. Finally, Alpha Windward LLC lifted its stake in shares of CDK Global by 41.1% in the second quarter. Alpha Windward LLC now owns 965 shares of the software maker’s stock worth $51,000 after acquiring an additional 281 shares during the period. 82.49% of the stock is currently owned by institutional investors.

About CDK Global (NASDAQ:CDK)

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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