CDK Global (NASDAQ:CDK) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Friday.

A number of other research firms also recently commented on CDK. Zacks Investment Research upgraded CDK Global from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Friday, February 8th. Oppenheimer set a $67.00 target price on CDK Global and gave the stock a “buy” rating in a research report on Tuesday, February 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $67.25.

CDK Global stock opened at $58.02 on Friday. The company has a market capitalization of $7.24 billion, a P/E ratio of 19.09 and a beta of 0.72. CDK Global has a 1-year low of $44.01 and a 1-year high of $70.99.

CDK Global (NASDAQ:CDK) last posted its earnings results on Tuesday, February 5th. The software maker reported $0.98 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.12. The company had revenue of $590.40 million for the quarter, compared to the consensus estimate of $578.91 million. CDK Global had a negative return on equity of 135.00% and a net margin of 16.36%. CDK Global’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.87 earnings per share. As a group, research analysts anticipate that CDK Global will post 3.64 EPS for the current year.

Several large investors have recently modified their holdings of CDK. Oregon Public Employees Retirement Fund lifted its position in shares of CDK Global by 4,688.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,470,752 shares of the software maker’s stock valued at $52,000 after acquiring an additional 2,419,149 shares in the last quarter. Norges Bank purchased a new stake in shares of CDK Global in the fourth quarter valued at $70,821,000. Fundsmith LLP purchased a new stake in shares of CDK Global in the fourth quarter valued at $44,182,000. Clarkston Capital Partners LLC lifted its position in shares of CDK Global by 118.0% in the fourth quarter. Clarkston Capital Partners LLC now owns 1,499,940 shares of the software maker’s stock valued at $71,817,000 after acquiring an additional 811,839 shares in the last quarter. Finally, Lakewood Capital Management LP increased its stake in CDK Global by 55.2% in the fourth quarter. Lakewood Capital Management LP now owns 2,109,717 shares of the software maker’s stock valued at $101,013,000 after purchasing an additional 750,000 shares during the last quarter. Institutional investors and hedge funds own 80.76% 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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