Sachem Head Capital Management Lp Lowers stake in CDK Global Inc (CDK)

CDK Global Inc (CDK) : Sachem Head Capital Management Lp reduced its stake in CDK Global Inc by 32.31% during the most recent quarter end. The investment management company now holds a total of 7,800,162 shares of CDK Global Inc which is valued at $455,841,467 after selling 3,723,215 shares in CDK Global Inc , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.CDK Global Inc makes up approximately 18.69% of Sachem Head Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Aperio Group reduced its stake in CDK by selling 10,084 shares or 12.02% in the most recent quarter. The Hedge Fund company now holds 73,780 shares of CDK which is valued at $4,311,703. CDK Global Inc makes up approx 0.03% of Aperio Group’s portfolio.Hanseatic Management Services Inc boosted its stake in CDK in the latest quarter, The investment management firm added 28,515 additional shares and now holds a total of 29,096 shares of CDK Global Inc which is valued at $1,689,896. CDK Global Inc makes up approx 0.61% of Hanseatic Management Services Inc’s portfolio.California State Teachers Retirement System reduced its stake in CDK by selling 11,603 shares or 3.41% in the most recent quarter. The Hedge Fund company now holds 329,041 shares of CDK which is valued at $19,265,351. CDK Global Inc makes up approx 0.04% of California State Teachers Retirement System’s portfolio.Gemmer Asset Management boosted its stake in CDK in the latest quarter, The investment management firm added 50 additional shares and now holds a total of 372 shares of CDK Global Inc which is valued at $21,543. CDK Global Inc makes up approx 0.01% of Gemmer Asset Management’s portfolio.Capstone Asset Management Co boosted its stake in CDK in the latest quarter, The investment management firm added 1,010 additional shares and now holds a total of 15,674 shares of CDK Global Inc which is valued at $899,844. CDK Global Inc makes up approx 0.03% of Capstone Asset Management Co’s portfolio.

CDK Global Inc opened for trading at $58.37 and hit $58.83 on the upside on Monday, eventually ending the session at $58.52, with a gain of 0.14% or 0.08 points. The heightened volatility saw the trading volume jump to 3,92,012 shares. Company has a market cap of $8,786 M.

On the company’s financial health, CDK Global Inc reported $0.49 EPS for the quarter, based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus estimate of $0.49. The company had revenue of $542.20 million for the quarter, compared to analysts expectations of $533.84 million. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS.

Investors should note that on Aug 10, 2016, CDK Global Inc announced a cash dividend of $0.1350. The company’s management has announced Sep 14, 2016 as the ex-dividend date and fixed the record date on Sep 16, 2016. The payable date has been fixed on Sep 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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