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Cdk Global Inc. (CDK): Sachem Head Capital Decreases Stake

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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%

Scott Ferguson
Scott Ferguson
Sachem Head Capital

Page 1 of 9 – SEC Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
                            
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(a)
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
                            
CDK GLOBAL, INC.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
12508E101
(CUSIP Number)
Michael D. Adamski
Sachem Head Capital Management LP
399 Park Avenue, 32nd Floor
New York, New York 10022
212-714-3300
With a Copy to:
Richard M. Brand
Cadwalader, Wickersham & Taft LLP
One World Financial Center
New York, New York 10281
212-504-5757
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
June 22, 2016
(Date of Event Which Requires Filing of This Statement)
                            
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box.
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.
 *
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.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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