Barrington analyst Gary Prestopino maintained a Buy rating on CDK Global (NASDAQ: CDK) today and set a price target of $80. The company’s shares closed on Friday at $61.85, close to its 52-week low of $59.84.
Prestopino commented:
“We reduced our FY/19 adjusted EPS estimate to $3.85 from $4.00 and initiated a $4.36 adjusted EPS estimate for FY/20. FY/19 will be a transition year for CDK as new business awards are implemented and new products are introduced to the market. We have an OUTPERFORM investment rating on the shares. Company Description CDK Global, Inc. engages in the provision of integrated information technology and digital marketing solutions to the automotive retail industry. It operates through following segments: and CDK International.”
According to TipRanks.com, Prestopino is a 4-star analyst with an average return of 16.3% and a 67.4% success rate. Prestopino covers the Services sector, focusing on stocks such as Kar Auction Services Inc, Liquidity Services, and Ritchie Bros.
Currently, the analyst consensus on CDK Global is a Moderate Buy with an average price target of $80, representing a 29.3% upside. In a report issued on August 14, Oppenheimer also maintained a Buy rating on the stock with a $80 price target.
.
See today’s analyst top recommended stocks >>
Based on CDK Global’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $99.4 million. In comparison, last year the company had a net profit of $58.7 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
CDK Global, Inc. engages in the provision of integrated information technology and digital marketing solutions to the automotive retail industry. It operates through following segments: Retail Solutions North America, Advertising North America, and CDK International.
