CDK - CDK STOCK NEWS

CDK Global (NASDAQ: CDK) is enhancing its commitment to corporate responsibility by pledging $70,000 to three non-profits aimed at improving access to education. The donations support the Boys and Girls Clubs of Southeast Louisiana, greenlight for girls, and the ASE Education Foundation. This initiative aligns with the UN Sustainable Development Goals and emphasizes CDK's dedication to fostering inclusive, equitable education. The company has directed nearly 90% of its corporate giving toward educational causes since its philanthropic initiative launch last August.

CDK Global introduces a new user interface (UI) for its CDK Service layered application, aimed at enhancing dealer workflow and customer engagement. The CDK Inspect application will be the first to adopt this UI, designed to improve efficiency and service capacity. Key upgrades include one-touch navigation for existing users, streamlined workflows for service personnel, data-driven repair recommendations, and the ability to provide consumers with multiple parts quotes. This initiative is part of CDK's significant investment in its service products to support higher revenues for dealers and enhance consumer experiences.

CDK Global (Nasdaq: CDK), a leader in automotive technology, has launched four new Vehicle Sales API integrations for Elead CRM via the Fortellis Automotive Commerce Exchange™. These APIs allow software providers to access sales activities and opportunities data directly, enhancing marketing and sales strategies. Key APIs include Sales Opportunities, Sales Activities, Sales Customer, and Product Reference Data, aimed at improving dealership operations and customer management. This initiative aims to optimize dealer CRM strategies and enhance customer retention.

CDK Global, Inc. reported its Q2 fiscal 2021 results ending December 31, 2020, with revenue of $406.3 million, down 3% year-over-year. GAAP diluted earnings per share were $0.56, while non-GAAP adjusted EPS was $0.59, down 17%. The company announced a record site count in North America, signaling growth potential despite a 19% decrease in GAAP earnings before income taxes. Full-year revenue guidance remains at $1,660 - $1,710 million, with adjusted diluted EPS projected between $2.45 - $2.75.

CDK Global's CEO, Brian Krzanich, outlines the company's resilience and adaptability in a recent open letter to customers. He emphasizes CDK's commitment to innovation, highlighting initiatives like the Connected Store offered for free in 2021, pricing reductions on various services, and the launch of Sign Anywhere for remote signing. CDK aims to enhance its data platforms, launching Neuron for actionable insights and expanding partnerships, including a collaboration with Lyft. Krzanich expresses optimism about driving technological advancements and future collaborations.

CDK Global has acquired Square Root, a technology company that enhances data-driven solutions for automotive retailers. This acquisition aims to strengthen CDK's Neuron intelligent data platform, which provides actionable insights from vast industry data. Square Root’s software processes 90 million data points daily through over 280 connectors, improving CDK's service offerings. The integration of Square Root is expected to accelerate product innovation and enhance customer experiences in the automotive sector. The financial terms of the acquisition remain undisclosed.

CDK Global has launched Neuron, an innovative data platform integrated with the Fortellis Automotive Commerce Exchange. Neuron utilizes AI and machine learning to transform vast automotive data into actionable insights for dealers, OEMs, and third-party developers.

Designed to enhance customer experiences and streamline operations, Neuron processes billions of data transactions to provide timely insights. This platform aims to drive product innovation and improve existing CDK solutions, supporting the evolving demands of the automotive industry.

CDK Global, a leader in automotive technology, will release its second-quarter financial results for the period ending December 31, 2020, on February 8, 2021, after market close. This announcement will include new guidance for fiscal 2021 following the recent sale of its International business segment. A conference call with key executives is scheduled for the same day at 4 p.m. CT to discuss the results and future outlook. Investors can access the call via webcast on the investor relations page.

Computerized Vehicle Registration (CVR) has announced a partnership with Automotive Titling Corporation (ATC) to enhance vehicle registration for car buyers across all 50 states. This collaboration aims to facilitate accurate fee processing and minimize documentation errors through automation and tailored forms. The integration of CVR's electronic vehicle registration (EVR) platform with ATC's out-of-state services is set to roll out state-by-state, beginning in early 2021. CVR, a joint venture of CDK Global and The Reynolds and Reynolds Company, currently operates in 17 states.