$459.12 Million in Sales Expected for CDK Global, Inc. (NASDAQ:CDK) This Quarter

Wall Street brokerages expect CDK Global, Inc. (NASDAQ:CDK – Get Rating) to report sales of $459.12 million for the current quarter, according to Zacks. Three analysts have made estimates for CDK Global’s earnings. The highest sales estimate is $464.30 million and the lowest is $455.81 million. CDK Global posted sales of $420.10 million during the same quarter last year, which would indicate a positive year over year growth rate of 9.3%. The company is expected to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that CDK Global will report full-year sales of $1.79 billion for the current financial year, with estimates ranging from $1.78 billion to $1.80 billion. For the next financial year, analysts forecast that the company will report sales of $1.89 billion, with estimates ranging from $1.87 billion to $1.90 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 – Get Rating) last announced its earnings results on Thursday, May 5th. The software maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.75 by $0.03. CDK Global had a net margin of 14.28% and a return on equity of 67.84%. The business had revenue of $459.70 million during the quarter, compared to analysts’ expectations of $457.88 million. During the same quarter in the prior year, the company posted $0.69 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis.

CDK has been the topic of several research analyst reports. TheStreet raised shares of CDK Global from a “c” rating to a “b-” rating in a research report on Thursday, March 3rd. Zacks Investment Research lowered shares of CDK Global from a “buy” rating to a “hold” rating in a research report on Tuesday, May 17th. StockNews.com initiated coverage on shares of CDK Global in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Barrington Research lowered shares of CDK Global from an “outperform” rating to an “underperform” rating in a research report on Thursday, April 7th. One analyst has rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat.com, CDK Global currently has an average rating of “Hold” and a consensus target price of $54.50.

A number of hedge funds and other institutional investors have recently modified their holdings of CDK. BlackRock Inc. raised its holdings in CDK Global by 14.1% in the 4th quarter. BlackRock Inc. now owns 21,272,636 shares of the software maker’s stock valued at $887,921,000 after buying an additional 2,635,597 shares during the last quarter. Barclays PLC raised its holdings in CDK Global by 46.9% in the 4th quarter. Barclays PLC now owns 6,404,925 shares of the software maker’s stock valued at $267,342,000 after buying an additional 2,045,912 shares during the last quarter. Norges Bank bought a new position in CDK Global in the 4th quarter valued at approximately $51,459,000. Paradice Investment Management LLC bought a new position in CDK Global during the 4th quarter worth approximately $41,653,000. Finally, Wellington Management Group LLP lifted its position in shares of CDK Global by 264.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,315,277 shares of the software maker’s stock worth $55,965,000 after purchasing an additional 954,088 shares during the period. Institutional investors and hedge funds own 92.85% of the company’s stock.

NASDAQ CDK opened at $54.30 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.38 and a debt-to-equity ratio of 3.98. The firm’s fifty day moving average price is $52.35 and its two-hundred day moving average price is $46.01. CDK Global has a 1 year low of $38.53 and a 1 year high of $54.70. The firm has a market capitalization of $6.34 billion, a P/E ratio of 25.98 and a beta of 1.02.

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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