Zacks: Analysts Anticipate CDK Global, Inc. (NASDAQ:CDK) Will Announce Quarterly Sales of $460.31 Million

Equities analysts expect that CDK Global, Inc. (NASDAQ:CDK – Get Rating) will report $460.31 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for CDK Global’s earnings, with the lowest sales estimate coming in at $448.26 million and the highest estimate coming in at $467.50 million. CDK Global posted sales of $433.10 million in the same quarter last year, which suggests a positive year-over-year growth rate of 6.3%. The company is expected to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that CDK Global will report full year sales of $1.79 billion for the current fiscal year, with estimates ranging from $1.78 billion to $1.80 billion. For the next financial year, analysts expect that the company will report sales of $1.89 billion, with estimates ranging from $1.87 billion to $1.90 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for CDK Global.

CDK Global (NASDAQ:CDK – Get Rating) last posted its quarterly earnings data on Thursday, February 3rd. The software maker reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.09. The business had revenue of $436.70 million during the quarter, compared to analyst estimates of $432.05 million. CDK Global had a net margin of 60.45% and a return on equity of 66.55%. During the same quarter last year, the firm posted $0.53 earnings per share.

CDK has been the topic of a number of recent research reports. Zacks Investment Research raised shares of CDK Global from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a report on Wednesday. Barrington Research lowered shares of CDK Global from an “outperform” rating to an “underperform” rating in a research report on Thursday, April 7th. TheStreet raised shares of CDK Global from a “c” rating to a “b-” rating in a research note on Thursday, March 3rd. Finally, StockNews.com initiated coverage on CDK Global in a research report on Thursday, March 31st. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, CDK Global currently has an average rating of “Hold” and a consensus price target of $54.50.

A number of hedge funds have recently modified their holdings of the business. First Horizon Advisors Inc. grew its stake in CDK Global by 12,080.0% in the third quarter. First Horizon Advisors Inc. now owns 609 shares of the software maker’s stock worth $25,000 after purchasing an additional 604 shares in the last quarter. Eagle Bay Advisors LLC bought a new position in CDK Global during the third quarter worth $25,000. Kathleen S. Wright Associates Inc. acquired a new position in CDK Global in the fourth quarter worth $29,000. First Command Bank bought a new stake in CDK Global during the first quarter valued at $29,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of CDK Global during the fourth quarter worth $32,000. Hedge funds and other institutional investors own 93.53% of the company’s stock.

CDK stock traded up $0.01 during midday trading on Wednesday, reaching $54.44. 4,719,311 shares of the company were exchanged, compared to its average volume of 2,520,195. The company has a debt-to-equity ratio of 4.36, a quick ratio of 1.38 and a current ratio of 1.38. CDK Global has a 1-year low of $38.53 and a 1-year high of $55.15. The stock’s 50-day simple moving average is $47.44 and its 200 day simple moving average is $43.99. The company has a market cap of $6.36 billion, a price-to-earnings ratio of 6.38 and a beta of 1.20.

CDK Global Company Profile (Get Rating)

CDK Global, Inc, together with its subsidiaries, provides integrated data and technology solutions to the automotive, heavy truck, recreation, and heavy equipment industries in the United States and internationally. It offers subscription-based software and technology solutions to automotive retailers, as well as to retailers and manufacturers of heavy trucks, construction and agricultural equipment, motorcycles, boats, and other marine and recreational vehicles.

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