Southpoint Capital Advisors Lp Lowers stake in CDK Global Inc (CDK)

CDK Global Inc (CDK) : Southpoint Capital Advisors Lp reduced its stake in CDK Global Inc by 4.26% during the most recent quarter end. The investment management company now holds a total of 2,250,000 shares of CDK Global Inc which is valued at $131,490,000 after selling 100,000 shares in CDK Global Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.CDK Global Inc makes up approximately 6.07% of Southpoint Capital Advisors Lp’s portfolio.

Other Hedge Funds, Including , Texas Permanent School Fund reduced its stake in CDK by selling 6,208 shares or 4.97% in the most recent quarter. The Hedge Fund company now holds 118,773 shares of CDK which is valued at $6,941,094. CDK Global Inc makes up approx 0.09% of Texas Permanent School Fund’s portfolio.Thompson Siegel Walmsley boosted its stake in CDK in the latest quarter, The investment management firm added 3,550 additional shares and now holds a total of 20,619 shares of CDK Global Inc which is valued at $1,197,552. CDK Global Inc makes up approx 0.02% of Thompson Siegel Walmsley’s portfolio.Essex Financial Services reduced its stake in CDK by selling 333 shares or 7.36% in the most recent quarter. The Hedge Fund company now holds 4,190 shares of CDK which is valued at $242,140. CDK Global Inc makes up approx 0.06% of Essex Financial Services’s portfolio.Skylands Capital boosted its stake in CDK in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 12,300 shares of CDK Global Inc which is valued at $712,539. CDK Global Inc makes up approx 0.11% of Skylands Capital’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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