Oppenheimer Analysts Give CDK Global (CDK) a $67.00 Price Target

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CDK Global (NASDAQ:CDK) has been assigned a $67.00 price objective by equities researchers at Oppenheimer in a note issued to investors on Wednesday. The firm currently has a “buy” rating on the software maker’s stock. Oppenheimer’s price target would suggest a potential upside of 26.06% from the stock’s previous close.

CDK has been the subject of several other reports. Morgan Stanley decreased their price objective on CDK Global from $75.00 to $68.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 15th. Barrington Research reiterated a “buy” rating and issued a $80.00 price objective on shares of CDK Global in a research report on Monday, August 13th. BidaskClub lowered CDK Global from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 2nd. Zacks Investment Research upgraded CDK Global from a “sell” rating to a “hold” rating in a research report on Tuesday, October 16th. Finally, ValuEngine downgraded CDK Global from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $73.40.

Shares of CDK traded down $4.15 on Wednesday, hitting $53.15. The company’s stock had a trading volume of 1,134,620 shares, compared to its average volume of 1,039,368. CDK Global has a fifty-two week low of $55.75 and a fifty-two week high of $76.04. The firm has a market capitalization of $7.42 billion, a PE ratio of 17.48, a P/E/G ratio of 1.55 and a beta of 0.76.

CDK Global (NASDAQ:CDK) last issued its quarterly earnings data on Tuesday, August 14th. The software maker reported $0.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.07. CDK Global had a negative return on equity of 235.59% and a net margin of 16.75%. The business had revenue of $569.20 million during the quarter, compared to analyst estimates of $578.99 million. During the same period in the previous year, the firm earned $0.55 EPS. CDK Global’s quarterly revenue was up .7% compared to the same quarter last year. As a group, research analysts anticipate that CDK Global will post 3.72 EPS for the current fiscal year.

In other news, VP Jennifer A. Williams sold 4,114 shares of the stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $61.65, for a total value of $253,628.10. Following the completion of the sale, the vice president now owns 5,012 shares of the company’s stock, valued at approximately $308,989.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.50% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its stake in CDK Global by 11.5% in the 1st quarter. Russell Investments Group Ltd. now owns 9,548 shares of the software maker’s stock valued at $604,000 after acquiring an additional 984 shares during the period. Suntrust Banks Inc. raised its stake in CDK Global by 61.0% in the 1st quarter. Suntrust Banks Inc. now owns 6,443 shares of the software maker’s stock valued at $407,000 after acquiring an additional 2,441 shares during the period. DnB Asset Management AS raised its stake in CDK Global by 8.4% in the 2nd quarter. DnB Asset Management AS now owns 15,500 shares of the software maker’s stock valued at $1,008,000 after acquiring an additional 1,200 shares during the period. IFM Investors Pty Ltd raised its stake in CDK Global by 41.2% in the 2nd quarter. IFM Investors Pty Ltd now owns 6,159 shares of the software maker’s stock valued at $401,000 after acquiring an additional 1,796 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in CDK Global by 21.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 21,076 shares of the software maker’s stock valued at $1,370,000 after acquiring an additional 3,720 shares during the period. 82.16% of the stock is owned by institutional investors.

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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