CDK Global Inc (CDK) Shares Bought by Eaton Vance Management
Eaton Vance Management boosted its holdings in shares of CDK Global Inc (NASDAQ:CDK) by 89.6% during the fourth quarter, HoldingsChannel reports. The firm owned 43,758 shares of the software maker’s stock after acquiring an additional 20,679 shares during the period. Eaton Vance Management’s holdings in CDK Global were worth $3,119,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Macquarie Group Ltd. purchased a new stake in CDK Global during the third quarter valued at $145,000. Bredin Investment LLC purchased a new stake in CDK Global during the fourth quarter valued at $203,000. BB&T Corp purchased a new stake in CDK Global during the fourth quarter valued at $208,000. Retirement Income Solutions Inc purchased a new stake in CDK Global during the fourth quarter valued at $209,000. Finally, Atlas Brown Inc. purchased a new stake in CDK Global during the fourth quarter valued at $214,000. 87.85% of the stock is currently owned by institutional investors.
Shares of CDK Global Inc (NASDAQ:CDK) opened at $68.48 on Friday. CDK Global Inc has a 12 month low of $59.33 and a 12 month high of $76.04. The firm has a market cap of $9,214.60, a price-to-earnings ratio of 24.90, a PEG ratio of 1.40 and a beta of 0.70. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of -11.19.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 1st will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Wednesday, February 28th. CDK Global’s payout ratio is presently 26.55%.
Several equities research analysts have recently weighed in on the stock. Wells Fargo & Co reissued an “outperform” rating and issued a $80.00 target price (up previously from $75.00) on shares of CDK Global in a research note on Wednesday, January 31st. Morgan Stanley increased their target price on shares of CDK Global from $76.00 to $77.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. BidaskClub downgraded shares of CDK Global from a “sell” rating to a “strong sell” rating in a research note on Wednesday, February 21st. Zacks Investment Research raised shares of CDK Global from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research note on Wednesday, January 31st. Finally, Barrington Research downgraded shares of CDK Global from an “outperform” rating to a “market perform” rating and set a $75.00 target price on the stock. in a research note on Wednesday, January 17th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $76.80.
In other news, EVP Scott L. Mathews sold 5,514 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $68.91, for a total value of $379,969.74. Following the transaction, the executive vice president now directly owns 48,520 shares in the company, valued at $3,343,513.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Rajiv K. Amar sold 1,968 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $69.85, for a total transaction of $137,464.80. Following the completion of the transaction, the insider now owns 11,072 shares in the company, valued at $773,379.20. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.
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CDK Global Profile
CDK Global, Inc provides integrated information technology and digital marketing solutions. The Company’s segments include Retail Solutions North America, Advertising North America and CDK International. Through its Retail Solutions North America segment, the Company provides technology-based solutions, including automotive Website platforms, that help automotive retailers, original equipment manufacturers (OEMs) and other industry participants manage the acquisition, sale, financing, insuring, parts supply, repair and maintenance of vehicles.
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