Fir Tree Lowers stake in CDK Global Inc (CDK)

CDK Global Inc (CDK) : Fir Tree reduced its stake in CDK Global Inc by 7.88% during the most recent quarter end. The investment management company now holds a total of 5,250,536 shares of CDK Global Inc which is valued at $292,664,877 after selling 449,000 shares in CDK Global Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.CDK Global Inc makes up approximately 13.26% of Fir Tree’s portfolio.

Other Hedge Funds, Including , Investment House reduced its stake in CDK by selling 141 shares or 1.64% in the most recent quarter. The Hedge Fund company now holds 8,434 shares of CDK which is valued at $464,713. CDK Global Inc makes up approx 0.07% of Investment House’s portfolio.Trimtabs Asset Management reduced its stake in CDK by selling 30,972 shares or 98.64% in the most recent quarter. The Hedge Fund company now holds 428 shares of CDK which is valued at $23,827. CDK Global Inc makes up approx 0.95% of Trimtabs Asset Management’s portfolio.

CDK Global Inc closed down -0.38 points or -0.65% at $57.8 with 5,70,277 shares getting traded on Monday. Post opening the session at $58.29, the shares hit an intraday low of $57.68 and an intraday high of $58.59 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, CDK Global Inc reported $0.60 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Nov 2, 2016. Analyst had a consensus of $0.52. The company had revenue of $550.70 million for the quarter, compared to analysts expectations of $538.63 million. The company’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS.

Investors should note that on Nov 15, 2016, CDK Global Inc announced a cash dividend of $0.1400. The company’s management has announced Dec 16, 2016 as the ex-dividend date and fixed the record date on Dec 20, 2016. The payable date has been fixed on Dec 30, 2016.

CDK Global Inc. is a global provider both integrated technology and digital marketing/advertising solutions to the automotive retail industry. The Company’s solutions automate and integrate critical workflow processes from pre-sale targeted advertising and marketing campaigns to the sale financing insurance parts supply repair and maintenance of vehicles with an increasing focus on utilizing big data analytics and predictive intelligence. The Company’s solutions address the entire automotive retailers’ value chain. The Company operates in three segments: Automotive Retail Solutions North America (North American Automotive Retail) Automotive Retail Solutions International (International Automotive Retail) and Digital Marketing Solutions (Digital Marketing).

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