CDK - CDK STOCK NEWS

CDK Global is set to host its inaugural virtual conference, CDK Connect, on October 6 at 1 p.m. CT. This event aims to unite the automotive industry, showcasing the latest technological advancements that enhance the car-buying experience. Keynotes will be delivered by industry leaders including Brian Krzanich, CEO, and feature insights from industry experts. Attendees can participate in breakout sessions focusing on modern retail, cybersecurity, and data management. CDK Global serves nearly 15,000 retail locations across North America.

CDK Global, Inc. has finalized an agreement to acquire Salty Dot, Inc., enhancing its automotive retail technology offerings. This acquisition leverages Salty's mobile-first insurance platform, allowing car buyers to secure insurance seamlessly during their purchase. The integration is expected to tap into the $311 billion U.S. automobile insurance market, creating new recurring revenue streams for dealers. Salty, licensed nationwide, is poised to transform the car-buying experience through its artificial intelligence-powered insurance solutions.

CDK Global, a leader in automotive technology, launched CDK ServiceView, a video communication tool for dealership service departments. This tool allows service technicians to send high-definition inspection videos to customers, addressing concerns about upselling and communication. A 2020 study indicated that 55% of customers distrust dealerships due to poor information flow. CDK ServiceView aims to rebuild this trust and improve transparency, potentially increasing service business by 26%, as reported by a user from North Park Lexus. The features include two-way texting and real-time analytics.

CDK Global, Inc. reported a strong finish to fiscal 2021, achieving a tenth consecutive quarter of growth in auto sites. For Q4 2021, revenue reached $420.1 million, a 12% increase from Q4 2020. However, GAAP earnings before income taxes fell 25% to $57 million. The company initiated fiscal 2022 guidance with projected revenues between $1.78 billion and $1.82 billion, alongside GAAP diluted earnings per share of $1.95 - $2.15. Despite solid revenue growth, non-GAAP adjusted earnings per share decreased 7% year-over-year.

CDK Global, Inc. (Nasdaq: CDK) has announced a quarterly cash dividend of $0.15 per share, with payment scheduled for September 30, 2021. Shareholders must be on record by the close of business on September 1, 2021. CDK Global provides integrated data and technology solutions primarily for the automotive and equipment industries, serving approximately 15,000 retail locations across North America, facilitating a streamlined retail commerce process.

Arcade, a software company focused on enhancing workforce engagement, has joined the CDK Global Partner Program as of August 10, 2021. This program connects Arcade's innovative solutions with automotive dealers globally, aiming to improve employee productivity and retention. Arcade’s technology utilizes gamification to boost employee performance through rewards and streamlined communication. The partnership allows automotive dealers using CDK systems to easily access Arcade's services, thereby enhancing operational efficiency.

CDK Global, Inc. (Nasdaq: CDK) will release its financial results for the fiscal fourth quarter and year ended June 30, 2021, after the market closes on August 17, 2021. The company will hold a conference call at 4:00 p.m. CT on the same day to discuss the details, featuring CEO Brian Krzanich and other key executives. Investors can access the call via live webcast on the CDK Investor Relations homepage, where a supplemental slide presentation will also be available approximately 30 minutes prior to the call.

Carketa has joined the CDK Global Partner Program, a significant step for the dealership solutions software company. This partnership facilitates integration with CDK's vast ecosystem, which comprises over 430 partner firms and 600 applications. Carketa aims to streamline dealership operations, enabling faster vehicle turnover and increased gross profit. Carketa's CEO emphasized the potential for dealers to sell cars more efficiently, while CDK's management expressed excitement about Carketa's inclusion in their program. This collaboration is anticipated to enhance competitive advantages for participating dealerships.

CDK Global has launched CDK OnePay, a dealership-wide payment solution in partnership with Global Payments. The platform allows dealers to request payments via text, email, or in-person, enhancing customer convenience with options to pay through credit, debit, or digital wallets. It integrates with the CDK Drive DMS, streamlining invoicing and reducing cashiering errors. With no upfront or recurring subscription fees, CDK OnePay aims to improve efficiency and profitability for dealerships. The solution caters to the growing demand for mobile payments in a health-conscious market.