CDK - CDK STOCK NEWS

CDK Global has successfully acquired Roadster, a California-based digital sales platform, enhancing its retail automotive technology services. This strategic move is aimed at creating a fully integrated solution for dealers, enabling them to sell vehicles online and improve customer experiences.

The integration of Roadster's technology supports CDK's objective of streamlining the vehicle-buying process, allowing consumers to purchase cars seamlessly. With this acquisition, CDK expects to expand market opportunities and partnerships, positioning itself strongly against digital-first marketplaces.

CDK Global reported Q3 fiscal 2021 results with a revenue increase of 2% year-over-year, reaching $433.1 million. This marks the strongest growth in Auto DMS sites since 2016, with significant customer-focused strategies contributing to new customer growth. However, GAAP earnings before income taxes declined by 35% to $71.2 million. The company revised its fiscal 2021 guidance for both GAAP and Non-GAAP revenue. Notably, share repurchases are set to resume following the sale of its International business and reduction of outstanding debt.

CDK Global is set to release its financial results for Q3 2021 on May 6, 2021, after the Nasdaq market closes. The results will cover the quarter ending March 31, 2021. A conference call for discussing these results will follow at 4:00 p.m. CT, featuring CEO Brian Krzanich and other key executives. Investors can access the call via the CDK Investor Relations website, which will also host a supplemental slide presentation and a replay of the call.

PayMaple has joined the CDK Global Partner Program, expanding its offerings for automotive dealers. This integration enables dealers to access cost savings and improve employee workflows through PayMaple's configurable POS system. The program supports over 430 partner companies and 600 applications, allowing for seamless integration with CDK's applications and dealer websites. CDK Global, with revenues exceeding $2 billion, aims to empower dealers with end-to-end automotive commerce solutions to enhance their operations globally.

Repay Holdings Corporation (NASDAQ: RPAY) has joined the CDK Global Partner Program, enhancing its presence in the automotive sector. This partnership allows REPAY to integrate its digital payment solutions with CDK's extensive ecosystem, enabling automotive dealers to automate accounts payable processes. The integration, facilitated through REPAY's cPayPlus platform, aims to streamline vendor payments, reducing inefficiencies in traditional invoicing and payment methods. This strategic move is expected to improve the operational efficiency and profitability of dealers nationwide.

CDK Global (Nasdaq: CDK) announced the integration of the Elead customer relationship management (CRM) solution with its CDK IntelliDealer dealer management system for heavy equipment dealers. This summer rollout aims to enhance customer relationships through a fully integrated platform tailored for the agriculture and construction sectors. The integration will allow dealers to aggregate customer data, customize communication strategies, and leverage data-driven insights for informed decision-making. CDK Global continues to innovate, reinforcing its commitment to boost profitability for dealers.

CDK Global has successfully completed the sale of its International Business to Francisco Partners, as announced on March 1, 2021. This transaction, initially disclosed on November 30, 2020, was finalized after satisfying customary closing conditions and regulatory approvals. Brian Krzanich, CEO of CDK, expressed gratitude towards the International Business team and emphasized the company's commitment to its growth strategy focused on the North American market. More details can be found in Current Reports filed with the SEC.

CDK Global has announced a quarterly cash dividend of $0.15 per share, set to be paid on March 30, 2021. Shareholders of record by March 8, 2021 will be eligible for this dividend. CDK Global, operating under Nasdaq:CDK, provides integrated data and technology solutions to the automotive industry, serving nearly 15,000 retail locations in North America. Their focus is on enhancing end-to-end retail commerce through innovative technology solutions that streamline processes related to vehicle acquisition, financing, insuring, and maintenance.

CDK Global (Nasdaq: CDK) and the National Association of Minority Automobile Dealers (NAMAD) have opened applications for the fifth Fueling Careers Scholarship Program. This initiative aims to enhance diversity in the automotive industry by offering $150,000 in scholarships over three years. Up to five students will receive $10,000 scholarships, along with internship opportunities at CDK. The program, founded in 2017, targets ethnic minority high school children of dealership employees. Applications are open until May 6, 2021, with awards announced at the NAMAD Annual Meeting in November.