Analysts Anticipate CDK Global, Inc. (NASDAQ:CDK) to Post $0.67 Earnings Per Share

Equities analysts predict that CDK Global, Inc. (NASDAQ:CDK) will report $0.67 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for CDK Global’s earnings, with the lowest EPS estimate coming in at $0.65 and the highest estimate coming in at $0.69. CDK Global posted earnings of $0.82 per share during the same quarter last year, which suggests a negative year over year growth rate of 18.3%. The firm is scheduled to report its next earnings report on Monday, November 1st.

On average, analysts expect that CDK Global will report full year earnings of $2.79 per share for the current financial year, with EPS estimates ranging from $2.70 to $2.88. For the next financial year, analysts forecast that the company will post earnings of $3.16 per share, with EPS estimates ranging from $2.88 to $3.34. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover CDK Global.

CDK Global (NASDAQ:CDK) last released its quarterly earnings data on Monday, August 16th. The software maker reported $0.66 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.01). The business had revenue of $420.10 million during the quarter, compared to analyst estimates of $428.10 million. CDK Global had a return on equity of 5,754.17% and a net margin of 59.00%. The firm’s revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.67 EPS.

CDK has been the topic of several analyst reports. TheStreet lowered shares of CDK Global from a “b-” rating to a “c+” rating in a research report on Tuesday, July 13th. Zacks Investment Research downgraded shares of CDK Global from a “hold” rating to a “strong sell” rating in a report on Monday, August 23rd. Finally, Morgan Stanley decreased their price objective on shares of CDK Global from $62.00 to $56.00 and set an “overweight” rating on the stock in a report on Wednesday, August 18th. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $62.20.

In other news, General Counsel Lee J. Brunz sold 1,447 shares of the firm’s stock in a transaction dated Monday, September 13th. The shares were sold at an average price of $42.96, for a total value of $62,163.12. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.02% of the company’s stock.

Several large investors have recently bought and sold shares of CDK. ProShare Advisors LLC increased its position in CDK Global by 1.5% during the second quarter. ProShare Advisors LLC now owns 15,722 shares of the software maker’s stock worth $781,000 after purchasing an additional 228 shares during the last quarter. Great West Life Assurance Co. Can increased its position in CDK Global by 0.5% during the second quarter. Great West Life Assurance Co. Can now owns 48,289 shares of the software maker’s stock worth $2,399,000 after purchasing an additional 259 shares during the last quarter. Keybank National Association OH increased its position in CDK Global by 5.7% during the second quarter. Keybank National Association OH now owns 5,508 shares of the software maker’s stock worth $274,000 after purchasing an additional 296 shares during the last quarter. National Asset Management Inc. increased its position in CDK Global by 4.0% during the second quarter. National Asset Management Inc. now owns 7,878 shares of the software maker’s stock worth $392,000 after purchasing an additional 304 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in CDK Global by 5.4% during the first quarter. Bessemer Group Inc. now owns 6,043 shares of the software maker’s stock worth $327,000 after purchasing an additional 307 shares during the last quarter. 86.20% of the stock is currently owned by hedge funds and other institutional investors.

CDK stock traded up $0.48 during midday trading on Wednesday, hitting $44.24. 678,421 shares of the stock traded hands, compared to its average volume of 684,019. The firm has a market cap of $5.36 billion, a P/E ratio of 5.25 and a beta of 1.31. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.53 and a quick ratio of 1.53. The stock’s fifty day simple moving average is $42.99 and its 200-day simple moving average is $48.74. CDK Global has a 1-year low of $39.78 and a 1-year high of $55.51.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 30th. Shareholders of record on Wednesday, September 1st were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.36%. The ex-dividend date was Tuesday, August 31st. CDK Global’s payout ratio is 27.03%.

About CDK Global

CDK Global, Inc engages in the provision of integrated information technology and digital marketing solutions to the automotive, heavy truck, recreation, and heavy equipment industries. The firm focuses on providing a suite of subscription-based software and technology solutions for automotive retailers in North America.

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Earnings History and Estimates for CDK Global (NASDAQ:CDK)

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