Blue Ridge Capital L.l.c. buys $359,873,520 stake in CDK Global Inc (CDK)

CDK Global Inc (CDK) : Blue Ridge Capital L.l.c. scooped up 26,400 additional shares in CDK Global Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 6,158,000 shares of CDK Global Inc which is valued at $359,873,520.CDK Global Inc makes up approximately 4.30% of Blue Ridge Capital L.l.c.’s portfolio.

Other Hedge Funds, Including , Invictus Rg reduced its stake in CDK by selling 107 shares or 59.12% in the most recent quarter. The Hedge Fund company now holds 74 shares of CDK which is valued at $4,325.Bartlett reduced its stake in CDK by selling 133 shares or 2.26% in the most recent quarter. The Hedge Fund company now holds 5,761 shares of CDK which is valued at $333,735. CDK Global Inc makes up approx 0.02% of Bartlett’s portfolio.Leavell Investment Management reduced its stake in CDK by selling 33 shares or 0.42% in the most recent quarter. The Hedge Fund company now holds 7,773 shares of CDK which is valued at $452,700. CDK Global Inc makes up approx 0.07% of Leavell Investment Management’s portfolio.

CDK Global Inc opened for trading at $58.07 and hit $58.47 on the upside on Thursday, eventually ending the session at $58.29, with a gain of 0.53% or 0.31 points. The heightened volatility saw the trading volume jump to 6,58,879 shares. Company has a market cap of $8,752 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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