Brokerages Set CDK Global Inc (NASDAQ:CDK) Price Target at $62.25

Shares of CDK Global Inc (NASDAQ:CDK) have been given a consensus rating of “Buy” by the six analysts that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $63.00.

CDK has been the subject of several recent analyst reports. Zacks Investment Research downgraded CDK Global from a “buy” rating to a “hold” rating in a report on Tuesday. ValuEngine downgraded CDK Global from a “hold” rating to a “sell” rating in a report on Friday, November 8th. Barrington Research restated a “buy” rating and issued a $65.00 price target on shares of CDK Global in a report on Monday, August 19th. Morgan Stanley initiated coverage on CDK Global in a report on Thursday, December 5th. They issued an “equal weight” rating and a $57.00 price target for the company. Finally, BidaskClub upgraded CDK Global from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 7th.

In other news, General Counsel Lee J. Brunz sold 1,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $51.79, for a total transaction of $51,790.00. Following the completion of the transaction, the general counsel now directly owns 42,569 shares of the company’s stock, valued at $2,204,648.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 2,000 shares of company stock valued at $98,045 over the last 90 days. Corporate insiders own 0.36% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Palisade Asset Management LLC boosted its position in CDK Global by 3.5% during the third quarter. Palisade Asset Management LLC now owns 6,674 shares of the software maker’s stock valued at $321,000 after purchasing an additional 226 shares during the last quarter. CIBC Asset Management Inc boosted its position in CDK Global by 3.7% during the second quarter. CIBC Asset Management Inc now owns 6,862 shares of the software maker’s stock valued at $339,000 after purchasing an additional 245 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in CDK Global by 1.1% during the second quarter. Municipal Employees Retirement System of Michigan now owns 23,060 shares of the software maker’s stock valued at $1,140,000 after purchasing an additional 250 shares during the last quarter. Peapack Gladstone Financial Corp boosted its position in CDK Global by 3.6% during the second quarter. Peapack Gladstone Financial Corp now owns 7,254 shares of the software maker’s stock valued at $359,000 after purchasing an additional 250 shares during the last quarter. Finally, Berman Capital Advisors LLC boosted its position in CDK Global by 76.0% during the second quarter. Berman Capital Advisors LLC now owns 623 shares of the software maker’s stock valued at $30,000 after purchasing an additional 269 shares during the last quarter. 81.70% of the stock is owned by institutional investors.

NASDAQ CDK traded down $0.55 on Thursday, reaching $53.46. The company had a trading volume of 1,385,780 shares, compared to its average volume of 905,421. The stock’s 50 day moving average is $52.05 and its 200-day moving average is $48.97. The stock has a market cap of $6.50 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 1.59 and a beta of 0.91. CDK Global has a 52 week low of $41.50 and a 52 week high of $63.90.

CDK Global (NASDAQ:CDK) last announced its quarterly earnings results on Tuesday, November 5th. The software maker reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.10. CDK Global had a negative return on equity of 72.27% and a net margin of 5.32%. The company had revenue of $494.60 million during the quarter, compared to the consensus estimate of $485.00 million. During the same period in the prior year, the company earned $0.89 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, equities research analysts predict that CDK Global will post 3.22 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be issued a $0.15 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.60 annualized dividend and a dividend yield of 1.12%. CDK Global’s dividend payout ratio (DPR) is currently 19.11%.

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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