Eaton Vance Management Acquires 23,421 Shares of CDK Global, Inc. (NASDAQ:CDK)


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Eaton Vance Management boosted its holdings in shares of CDK Global, Inc. (NASDAQ:CDK) by 3.0% in the fourth quarter, Holdings Channel reports. The firm owned 791,757 shares of the software maker’s stock after purchasing an additional 23,421 shares during the quarter. Eaton Vance Management’s holdings in CDK Global were worth $41,037,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bessemer Group Inc. lifted its stake in CDK Global by 3.6% during the fourth quarter. Bessemer Group Inc. now owns 5,736 shares of the software maker’s stock worth $297,000 after purchasing an additional 200 shares during the period. AIMZ Investment Advisors LLC raised its stake in shares of CDK Global by 0.3% in the fourth quarter. AIMZ Investment Advisors LLC now owns 63,905 shares of the software maker’s stock valued at $3,312,000 after acquiring an additional 204 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of CDK Global by 1.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 29,442 shares of the software maker’s stock valued at $1,526,000 after acquiring an additional 280 shares during the last quarter. Baird Financial Group Inc. raised its stake in shares of CDK Global by 3.1% in the fourth quarter. Baird Financial Group Inc. now owns 16,549 shares of the software maker’s stock valued at $858,000 after acquiring an additional 490 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of CDK Global by 2.0% in the first quarter. First Trust Advisors LP now owns 26,815 shares of the software maker’s stock valued at $1,577,000 after acquiring an additional 524 shares during the last quarter. Hedge funds and other institutional investors own 82.20% of the company’s stock.

Shares of CDK Global stock opened at $53.96 on Thursday. The firm has a market cap of $6.57 billion, a P/E ratio of 36.46 and a beta of 1.38. The firm has a 50 day simple moving average of $52.40 and a 200 day simple moving average of $49.44. CDK Global, Inc. has a fifty-two week low of $33.42 and a fifty-two week high of $55.51.

CDK Global (NASDAQ:CDK) last issued its quarterly earnings results on Sunday, February 7th. The software maker reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.06). The company had revenue of $406.30 million during the quarter, compared to analyst estimates of $436.06 million. CDK Global had a net margin of 9.25% and a negative return on equity of 62.84%. The business’s revenue for the quarter was down 18.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.80 EPS. Equities analysts anticipate that CDK Global, Inc. will post 2.35 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 30th. Investors of record on Monday, March 8th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date was Friday, March 5th. CDK Global’s dividend payout ratio is currently 19.67%.

CDK has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their target price on shares of CDK Global from $60.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, February 9th. Oppenheimer lifted their target price on shares of CDK Global from $55.00 to $65.00 in a research note on Tuesday, February 9th. Zacks Investment Research upgraded shares of CDK Global from a “sell” rating to a “hold” rating in a research note on Tuesday, February 16th. Finally, Barrington Research reiterated a “buy” rating and issued a $72.00 target price on shares of CDK Global in a research note on Wednesday, January 6th.

CDK Global Profile

CDK Global, Inc, together with its subsidiaries, provides software and technology solutions for automotive retailers in the United States, Europe, Canada, and internationally. The company offers Dealer Management System (DMS), a portfolio of layered software applications and services for automotive retailers, original equipment manufacturers (OEMs), consumers, and other industry participants manage the acquisition, sale, financing, insuring, parts supply, and repair and maintenance of vehicles.

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Institutional Ownership by Quarter for CDK Global (NASDAQ:CDK)

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