CDK Global (CDK) Stock Rating Lowered by BidaskClub
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.
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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