According to a newly-amended 13D filing with the US Securities and Exchange Commission, Scott Ferguson‘s Sachem Head Capital has slightly decreased its stake in Cdk Global Inc. (NASDAQ:CDK) and currently owns 8.75 million shares, which account for 5.6% of the company’s outstanding shares. This compares to 10.5 million shares that amassed 6.8% of the total amount of shares, which Sachem Head Capital disclosed in a previous 13D filing, earlier this month.
Cdk Global is a company that provides integrated information technology to the automotive retail industry, operating in three sectors Automotive Retail International, Digital Marketing, and Automotive Retail North America. Over the last 12 months, the company’s stock is up by 16.89%.
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According to our data, at the end of March, there were 41 investors long CDK Global (NASDAQ:CDK), compared to 34 funds a quarter earlier. Sachem Head Capital disclosed the most valuable position, while the second-biggest position was reported by Paul Singer’s Elliott Management, valued at $377.5 million. Some other investors that are bullish on this stock are Jeffrey Tannenbaum’s Fir Tree, John Griffin’s Blue Ridge Capital and William B. Gray’s Orbis Investment Management.
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As aggregate interest increased, key hedge funds have been driving this bullishness. Eric Mindich’s Eton Park Capital had $105.3 million invested in CDK Global (NASDAQ:CDK) at the end of the quarter, and David Fear’s Thunderbird Partners also initiated a $43.2 million position during the quarter. The following funds were also among the new CDK investors: Glenn Russell Dubin’s Highbridge Capital Management, Dmitry Balyasny’s Balyasny Asset Management, and John Overdeck and David Siegel’s Two Sigma Advisors.
You can access the original SEC filing by clicking here.
Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| Sachem Head Capital Management | 0 | 8,750,162 | 0 | 8,750,162 | 8,750,162 | 5.6% |
| Uncas GP | 0 | 8,750,162 | 0 | 8,750,162 | 8,750,162 | 5.6% |
| Sachem Head GP | 0 | 8,750,162 | 0 | 8,750,162 | 8,750,162 | 5.6% |
| Scott D. Ferguson | 0 | 8,750,162 | 0 | 8,750,162 | 8,750,162 | 5.6% |
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Page 1 of 9 – SEC Filing
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| * | The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. |
