Equities research analysts expect CDK Global, Inc. (NASDAQ:CDK) to post $427.68 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for CDK Global's earnings, with the highest sales estimate coming in at $434.20 million and the lowest estimate coming in at $420.30 million. CDK Global reported sales of $516.30 million during the same quarter last year, which indicates a negative year over year growth rate of 17.2%. The company is scheduled to report its next earnings results on Tuesday, May 4th.
On average, analysts expect that CDK Global will report full-year sales of $1.68 billion for the current year, with estimates ranging from $1.67 billion to $1.69 billion. For the next financial year, analysts forecast that the business will report sales of $1.78 billion, with estimates ranging from $1.75 billion to $1.83 billion. Zacks' sales calculations are a mean average based on a survey of sell-side research analysts that follow CDK Global.
CDK Global (NASDAQ:CDK) last announced its quarterly earnings data on Sunday, February 7th. The software maker reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.06). The firm had revenue of $406.30 million for the quarter, compared to the consensus estimate of $436.06 million. CDK Global had a net margin of 9.25% and a negative return on equity of 62.84%. CDK Global's revenue for the quarter was down 18.6% on a year-over-year basis. During the same period last year, the company posted $0.80 earnings per share.
Several equities research analysts have commented on the stock. Zacks Investment Research raised shares of CDK Global from a "sell" rating to a "hold" rating in a report on Tuesday, February 16th. Wells Fargo & Company upped their price target on shares of CDK Global from $60.00 to $65.00 and gave the company an "overweight" rating in a research note on Tuesday, February 9th. Oppenheimer lifted their price objective on shares of CDK Global from $55.00 to $65.00 in a research note on Tuesday, February 9th. Finally, Barrington Research restated a "buy" rating and set a $72.00 target price on shares of CDK Global in a research report on Wednesday, January 6th.
A number of large investors have recently modified their holdings of CDK. Sterling Financial Planning Inc. purchased a new position in CDK Global during the fourth quarter worth about $31,000. Hoover Financial Advisors Inc. purchased a new position in shares of CDK Global during the fourth quarter worth about $66,000. Royal London Asset Management Ltd. bought a new position in shares of CDK Global in the fourth quarter worth approximately $99,000. Eudaimonia Partners LLC raised its stake in CDK Global by 85.0% in the third quarter. Eudaimonia Partners LLC now owns 2,610 shares of the software maker's stock valued at $124,000 after purchasing an additional 1,199 shares in the last quarter. Finally, Tacita Capital Inc purchased a new stake in CDK Global in the fourth quarter valued at approximately $143,000. 82.20% of the stock is owned by institutional investors.
CDK stock opened at $53.96 on Thursday. The stock has a fifty day moving average of $52.40 and a 200-day moving average of $49.44. CDK Global has a fifty-two week low of $33.42 and a fifty-two week high of $55.51. The company has a market capitalization of $6.57 billion, a price-to-earnings ratio of 36.46 and a beta of 1.38.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 30th. Stockholders of record on Monday, March 8th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date was Friday, March 5th. CDK Global's payout ratio is 19.67%.
About CDK Global
CDK Global, Inc, together with its subsidiaries, provides software and technology solutions for automotive retailers in the United States, Europe, Canada, and internationally. 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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