BidaskClub Upgrades CDK Global (NASDAQ:CDK) to Hold

CDK Global (NASDAQ:CDK) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a report released on Saturday, July 6th, BidAskClub reports.

CDK has been the topic of a number of other reports. Barrington Research reissued a “buy” rating and issued a $6.50 price objective on shares of CLEAR CHANNEL O/SH in a research note on Monday, April 29th. ValuEngine raised shares of Yirendai from a “strong sell” rating to a “sell” rating in a research note on Friday, May 3rd. Finally, Zacks Investment Research lowered shares of GALP ENERGIA SG/ADR from a “hold” rating to a “sell” rating in a research report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $67.75.

Shares of CDK opened at $50.68 on Friday. CDK Global has a 12 month low of $44.01 and a 12 month high of $67.97. The stock’s 50 day simple moving average is $49.24. The company has a market capitalization of $6.16 billion, a PE ratio of 14.20, a PEG ratio of 1.32 and a beta of 0.85.

CDK Global (NASDAQ:CDK) last announced its earnings results on Tuesday, April 30th. The software maker reported $0.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.08. CDK Global had a net margin of 16.34% and a negative return on equity of 113.53%. The company had revenue of $602.10 million for the quarter, compared to analysts’ expectations of $596.47 million. During the same period last year, the firm earned $0.85 earnings per share. Research analysts predict that CDK Global will post 3.62 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of the company. First Trust Advisors LP lifted its position in shares of CDK Global by 22.6% in the fourth quarter. First Trust Advisors LP now owns 26,291 shares of the software maker’s stock worth $1,259,000 after buying an additional 4,849 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in shares of CDK Global by 4.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 26,783 shares of the software maker’s stock worth $1,282,000 after buying an additional 1,020 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of CDK Global by 5.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 16,777 shares of the software maker’s stock worth $803,000 after buying an additional 940 shares during the last quarter. State of Tennessee Treasury Department lifted its position in shares of CDK Global by 2.0% in the fourth quarter. State of Tennessee Treasury Department now owns 58,843 shares of the software maker’s stock worth $2,817,000 after buying an additional 1,170 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. lifted its position in shares of CDK Global by 7.2% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 20,888 shares of the software maker’s stock worth $875,000 after buying an additional 1,400 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

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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