Zacks: Analysts Anticipate CDK Global, Inc. (NASDAQ:CDK) Will Post Quarterly Sales of $459.12 Million

Posted by on May 25th, 2022

Equities analysts expect CDK Global, Inc. (NASDAQ:CDK – Get Rating) to report $459.12 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for CDK Global’s earnings, with the highest sales estimate coming in at $464.30 million and the lowest estimate coming in at $455.81 million. CDK Global posted sales of $420.10 million in the same quarter last year, which suggests a positive year-over-year growth rate of 9.3%. The business is scheduled to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that CDK Global will report full-year sales of $1.79 billion for the current year, with estimates ranging from $1.78 billion to $1.80 billion. For the next year, analysts forecast that the business will post sales of $1.89 billion, with estimates ranging from $1.87 billion to $1.90 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow CDK Global.

CDK Global (NASDAQ:CDK – Get Rating) last posted its earnings results on Thursday, May 5th. The software maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.03. The firm had revenue of $459.70 million during the quarter, compared to analysts’ expectations of $457.88 million. CDK Global had a return on equity of 67.84% and a net margin of 14.28%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.69 earnings per share.

Several research firms recently weighed in on CDK. StockNews.com began coverage on CDK Global in a research note on Thursday, March 31st. They set a “hold” rating for the company. Barrington Research cut CDK Global from an “outperform” rating to an “underperform” rating in a research note on Thursday, April 7th. TheStreet upgraded CDK Global from a “c” rating to a “b-” rating in a research note on Thursday, March 3rd. Finally, Zacks Investment Research cut CDK Global from a “buy” rating to a “hold” rating in a research note on Tuesday, May 17th. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. According to data from MarketBeat.com, CDK Global has a consensus rating of “Hold” and an average target price of $54.50.

Institutional investors have recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC purchased a new stake in shares of CDK Global during the third quarter worth approximately $25,000. Kathleen S. Wright Associates Inc. acquired a new position in CDK Global during the fourth quarter worth $29,000. First Command Bank acquired a new position in CDK Global during the first quarter worth $29,000. Northwest Investment Counselors LLC acquired a new position in CDK Global during the fourth quarter worth $32,000. Finally, Concord Wealth Partners acquired a new position in CDK Global during the fourth quarter worth $33,000. Institutional investors and hedge funds own 92.85% of the company’s stock.

CDK stock opened at $54.30 on Wednesday. The business has a 50 day moving average price of $52.35 and a 200 day moving average price of $46.01. The stock has a market cap of $6.34 billion, a price-to-earnings ratio of 25.98 and a beta of 1.02. CDK Global has a fifty-two week low of $38.53 and a fifty-two week high of $54.70. The company has a quick ratio of 1.38, a current ratio of 1.25 and a debt-to-equity ratio of 3.98.

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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