Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

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

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%.

Follow Cdk Global Inc. (NASDAQ:CDK)
Trade (NASDAQ:CDK) Now!

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.

smart, vision, display, innovation, future, interface, business, new, concept, success, internet, tech, digital, reality, marketing, technology, idea, development, touch,


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

Washington, D.C. 20549
(Rule 13d-101)
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
(Name of Issuer)
Common Stock
(Title of Class of Securities)
(CUSIP Number)
Michael D. Adamski
Sachem Head Capital Management LP
399 Park Avenue, 32nd Floor
New York, New York 10022
With a Copy to:
Richard M. Brand
Cadwalader, Wickersham & Taft LLP
One World Financial Center
New York, New York 10281
(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).

Follow Cdk Global Inc. (NASDAQ:CDK)
Trade (NASDAQ:CDK) Now!

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.