Cdk Stock Symbol Global Inc Q3 FY22 Results and Market Analysis

CDK Global Inc's Q3 FY22 results were a mixed bag, with revenue increasing 2% year-over-year to $1.46 billion.

The company's gross profit margin was 34.6% in Q3, a decrease from 35.6% in the same period last year.

CDK Global Inc's stock price has been relatively stable, trading between $40 and $50 per share over the past quarter.

The company's guidance for Q4 FY22 was slightly below analyst expectations, which may have contributed to the stock's recent volatility.

CDK Global is a leading provider of software solutions for the automotive retail industry, with a market capitalization of around $7.5 billion as of 2022.

CDK Global's financial information is publicly available, allowing investors to stay up-to-date on the company's performance.

In 2020, CDK Global reported revenue of $2.3 billion, with a net income of $245 million.

The company's financials have shown steady growth over the years, with a notable increase in revenue in 2019.

CDK Global's stock symbol, RCD, is listed on the New York Stock Exchange (NYSE).

Morgan Stanley downgraded CDK Global to Equalweight from Overweight in December 2021, cutting the price target to $48 from $56.

Analysts have been actively providing recommendations on CDK Global. Morgan Stanley adjusted the price target on CDK Global to $56 from $62 in August 2021, maintaining an Overweight rating.

CDK Global received a price target range adjustment from Barrington Research in August 2021, lowering the range to $55-$60 from $72 while reiterating an Outperform rating.

Here are some notable analyst recommendations for CDK Global:

Morgan Stanley downgraded CDK Global in December 2021, cutting the price target to $48.

CDK Global's revenue has consistently increased over the years, reaching $2.4 billion in 2020.

The company's net income has also shown significant growth, reaching $346 million in 2020.

CDK Global, Inc. reported revenue growth of 6% year over year in its Third Quarter Fiscal 2022 Results. This growth is a notable achievement, especially in today's competitive market.

The company's Q3 FY22 Results were announced on May 05, 2022.

CDK Global (CDK) delivered a strong Q3 performance, beating earnings estimates by 5.41%. This suggests the company is on solid ground financially.

The company's revenue also came in slightly above expectations, with a 0.13% surprise. This indicates a steady stream of income.

CDK Global's ability to exceed earnings estimates may be a sign of a well-managed business. It's always impressive to see companies meet or beat expectations.

CDK Global has outpaced other computer and technology stocks this year, but we can't say the same for the global stock market.

CDK Global has performed better than Gree, another company in the sector, so far this year.

Cdk stock symbol has been involved in some notable partnerships and incidents.

Cdk global has a partnership with Trimble, a leading provider of construction technology.

The partnership allows Cdk global to offer its customers a more comprehensive construction management solution.

This partnership has helped Cdk global expand its reach in the construction industry.

One notable incident involving Cdk global stock was a 2019 lawsuit against a former employee who allegedly stole company trade secrets.

CDK Global has been making headlines with its recent partnerships and announcements. E-Emphasys Announces Executive Board Chairman and Members of the Global Leadership Team on May 23, 2024.

TA and True Wind Capital have backed E-Emphasys Technologies and CDK Global Heavy Equipment's joint forces. This strategic partnership was announced on May 2, 2023.

CDK Global showcased its innovative API tools at NADA 2023, introducing a modern application programming interface for developers on January 24, 2023.

CDK Global also introduced an enhanced dealer workflow experience at NADA Show 2023 on the same day. This move aims to improve the efficiency of dealers.

Dealer Pay joined CDK Global's Partner Program on December 16, 2022, expanding the company's network of partners.

Here are the key CDK Global press releases:

CDK Global, Inc. has a history of extending relationships with prominent automotive groups. One notable example is its extension with Sonic Automotive.

In 2023, CDK Global, Inc. extended its relationship with Sonic Automotive, Inc. This agreement allows Sonic Automotive to continue using CDK's Dealer Management System (DMS) and Dealership Xperience Modern Retail Suite.

CDK Global, Inc. has also extended relationships with other notable automotive groups. For instance, it extended its relationship with Findlay Automotive Group in January 2023.

Here are some key dates related to CDK Global, Inc.'s partnership with Sonic Automotive:

Group 1 Automotive was affected by a cybersecurity incident involving CDK Global LLC. Group 1 has over 202 dealerships in the U.S. and U.K. The incident disrupted Group 1's business applications and processes in its U.S. operations.

Group 1 immediately activated its cyber incident response procedures. The company took proactive measures to protect and isolate its systems from CDK's platform.