CDK Global Inc (NASDAQ:CDK) Expected to Announce Quarterly Sales of $519.45 Million

Brokerages forecast that CDK Global Inc (NASDAQ:CDK) will announce sales of $519.45 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for CDK Global’s earnings, with estimates ranging from $516.50 million to $523.80 million. CDK Global reported sales of $602.10 million in the same quarter last year, which indicates a negative year-over-year growth rate of 13.7%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, May 5th.

According to Zacks, analysts expect that CDK Global will report full year sales of $2.02 billion for the current financial year, with estimates ranging from $1.99 billion to $2.04 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.10 billion, with estimates ranging from $2.04 billion to $2.14 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover CDK Global.

CDK Global (NASDAQ:CDK) last released its quarterly earnings data on Tuesday, February 4th. The software maker reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. The firm had revenue of $499.60 million during the quarter, compared to analyst estimates of $493.00 million. CDK Global had a negative return on equity of 63.55% and a net margin of 2.36%. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.83 earnings per share.

A number of equities analysts recently commented on the company. Oppenheimer dropped their price target on CDK Global from $67.00 to $55.00 and set an “outperform” rating for the company in a research note on Wednesday. Wells Fargo & Co raised CDK Global from an “equal weight” rating to an “overweight” rating and set a $65.00 price target for the company in a research note on Thursday, January 9th. ValuEngine lowered CDK Global from a “hold” rating to a “sell” rating in a research note on Thursday. BidaskClub raised CDK Global from a “sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Finally, Zacks Investment Research raised CDK Global from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. CDK Global presently has an average rating of “Hold” and an average target price of $55.80.

In other CDK Global news, General Counsel Lee J. Brunz sold 1,000 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $52.53, for a total transaction of $52,530.00. Following the transaction, the general counsel now directly owns 39,569 shares in the company, valued at approximately $2,078,559.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.36% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BBVA USA Bancshares Inc. acquired a new stake in shares of CDK Global in the 4th quarter worth $30,000. Clean Yield Group boosted its position in shares of CDK Global by 277.8% in the 4th quarter. Clean Yield Group now owns 646 shares of the software maker’s stock worth $35,000 after purchasing an additional 475 shares in the last quarter. S.A. Mason LLC acquired a new stake in shares of CDK Global in the 4th quarter worth $50,000. Signaturefd LLC lifted its position in CDK Global by 110.4% during the 4th quarter. Signaturefd LLC now owns 1,176 shares of the software maker’s stock worth $64,000 after acquiring an additional 617 shares during the period. Finally, Procyon Private Wealth Partners LLC acquired a new stake in CDK Global during the 4th quarter worth about $84,000. 84.51% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ CDK traded down $0.22 during mid-day trading on Monday, reaching $30.06. The company’s stock had a trading volume of 1,673,700 shares, compared to its average volume of 926,422. The stock has a fifty day moving average of $42.29 and a two-hundred day moving average of $49.51. CDK Global has a 52 week low of $29.12 and a 52 week high of $63.90. The firm has a market capitalization of $3.99 billion, a PE ratio of 79.11, a P/E/G ratio of 0.92 and a beta of 1.29.

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Monday, March 2nd were issued a dividend of $0.15 per share. The ex-dividend date was Friday, February 28th. This represents a $0.60 annualized dividend and a yield of 2.00%. CDK Global’s payout ratio 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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