CDK Global Inc (NASDAQ:CDK) – Stock analysts at Oppenheimer raised their Q3 2020 earnings per share (EPS) estimates for CDK Global in a research note issued on Tuesday, November 5th. Oppenheimer analyst I. Zaffino now anticipates that the software maker will earn $0.87 per share for the quarter, up from their previous forecast of $0.83.
CDK Global (NASDAQ:CDK) last issued its quarterly earnings data on Tuesday, November 5th. The software maker reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.10. CDK Global had a negative return on equity of 75.74% and a net margin of 5.32%. The business had revenue of $494.60 million for the quarter, compared to analysts’ expectations of $485.00 million. During the same quarter in the prior year, the firm posted $0.89 EPS. The firm’s quarterly revenue was up 10.8% on a year-over-year basis.
CDK has been the topic of several other research reports. BidaskClub raised CDK Global from a “buy” rating to a “strong-buy” rating in a report on Thursday. Zacks Investment Research cut CDK Global from a “hold” rating to a “sell” rating in a report on Wednesday. ValuEngine cut CDK Global from a “hold” rating to a “sell” rating in a report on Friday. Finally, Barrington Research reaffirmed a “buy” rating and issued a $65.00 price target on shares of CDK Global in a report on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, two have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $64.67.
NASDAQ:CDK opened at $51.78 on Friday. The business’s 50-day moving average price is $48.24 and its two-hundred day moving average price is $49.37. CDK Global has a twelve month low of $41.50 and a twelve month high of $63.90. The stock has a market cap of $6.41 billion, a P/E ratio of 16.49, a PEG ratio of 1.57 and a beta of 0.92.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. River & Mercantile Asset Management LLP purchased a new position in shares of CDK Global during the 2nd quarter valued at about $31,000. Berman Capital Advisors LLC raised its holdings in shares of CDK Global by 76.0% during the 2nd quarter. Berman Capital Advisors LLC now owns 623 shares of the software maker’s stock valued at $30,000 after buying an additional 269 shares in the last quarter. AdvisorNet Financial Inc raised its holdings in shares of CDK Global by 73.9% during the 3rd quarter. AdvisorNet Financial Inc now owns 654 shares of the software maker’s stock valued at $31,000 after buying an additional 278 shares in the last quarter. Cordasco Financial Network purchased a new position in shares of CDK Global during the 2nd quarter valued at about $33,000. Finally, Wealthcare Advisory Partners LLC raised its holdings in shares of CDK Global by 224.9% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 692 shares of the software maker’s stock valued at $34,000 after buying an additional 479 shares in the last quarter. 80.80% of the stock is currently owned by institutional investors.
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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