CDK Global, Inc. (NASDAQ:CDK) Stock Holdings Boosted by Eaton Vance Management


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Eaton Vance Management raised its position in shares of CDK Global, Inc. (NASDAQ:CDK) by 3.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 791,757 shares of the software maker’s stock after purchasing an additional 23,421 shares during the quarter. Eaton Vance Management owned about 0.65% of CDK Global worth $41,037,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CDK. Norges Bank bought a new position in CDK Global during the 4th quarter valued at $67,389,000. Discerene Group LP acquired a new stake in shares of CDK Global during the 4th quarter valued at $62,548,000. Morgan Stanley lifted its position in shares of CDK Global by 131.3% during the 4th quarter. Morgan Stanley now owns 732,184 shares of the software maker’s stock valued at $37,949,000 after acquiring an additional 415,670 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of CDK Global by 25.0% during the 4th quarter. Janus Henderson Group PLC now owns 2,015,342 shares of the software maker’s stock valued at $104,455,000 after acquiring an additional 402,875 shares during the last quarter. Finally, Boston Trust Walden Corp lifted its position in shares of CDK Global by 90.6% during the 4th quarter. Boston Trust Walden Corp now owns 623,532 shares of the software maker’s stock valued at $32,318,000 after acquiring an additional 296,308 shares during the last quarter. 82.20% of the stock is owned by hedge funds and other institutional investors.

CDK opened at $53.96 on Thursday. The stock has a fifty day moving average of $52.40 and a 200-day moving average of $49.44. The firm has a market capitalization of $6.57 billion, a P/E ratio of 36.46 and a beta of 1.38. CDK Global, Inc. has a 12-month low of $33.42 and a 12-month high of $55.51.

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

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

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

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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