Baird Financial Group Inc. Has $46.14 Million Position in CDW Corp (CDW)

Baird Financial Group Inc. lowered its position in shares of CDW Corp (NASDAQ:CDW) by 1.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 663,966 shares of the information technology services provider’s stock after selling 9,584 shares during the period. Baird Financial Group Inc.’s holdings in CDW were worth $46,139,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CDW. Lloyds Banking Group plc acquired a new position in CDW during the third quarter valued at approximately $108,000. Toronto Dominion Bank grew its holdings in CDW by 24.8% during the second quarter. Toronto Dominion Bank now owns 1,973 shares of the information technology services provider’s stock valued at $123,000 after purchasing an additional 392 shares during the period. Cerebellum GP LLC acquired a new position in CDW during the fourth quarter valued at approximately $128,000. SG Americas Securities LLC acquired a new position in CDW during the fourth quarter valued at approximately $184,000. Finally, Biltmore Wealth Management LLC acquired a new position in CDW during the fourth quarter valued at approximately $228,000. Hedge funds and other institutional investors own 90.62% of the company’s stock.

In related news, insider Neal J. Campbell sold 2,400 shares of the stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $68.22, for a total transaction of $163,728.00. Following the completion of the transaction, the insider now owns 28,479 shares in the company, valued at $1,942,837.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christina M. Corley sold 4,000 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $67.81, for a total transaction of $271,240.00. Following the transaction, the insider now owns 35,843 shares of the company’s stock, valued at approximately $2,430,513.83. The disclosure for this sale can be found here. Insiders have sold 64,891 shares of company stock valued at $4,551,282 in the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

CDW has been the subject of several research analyst reports. ValuEngine upgraded shares of CDW from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Robert W. Baird reiterated a “buy” rating and issued a $80.00 price target on shares of CDW in a report on Wednesday, February 7th. BidaskClub upgraded shares of CDW from a “hold” rating to a “buy” rating in a report on Monday, February 5th. Royal Bank of Canada reiterated a “buy” rating and issued a $80.00 price target on shares of CDW in a report on Monday, January 15th. Finally, Zacks Investment Research upgraded shares of CDW from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a report on Monday, October 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $72.00.

CDW Corp (NASDAQ CDW) opened at $71.46 on Monday. The firm has a market cap of $10,937.88, a P/E ratio of 21.46 and a beta of 1.07. CDW Corp has a 1-year low of $55.80 and a 1-year high of $76.73. The company has a quick ratio of 1.15, a current ratio of 1.37 and a debt-to-equity ratio of 4.20.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, February 7th. The information technology services provider reported $0.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.05. CDW had a net margin of 3.44% and a return on equity of 68.41%. The business had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.85 billion. During the same quarter in the prior year, the company posted $0.86 earnings per share. The firm’s revenue was up 9.9% on a year-over-year basis. sell-side analysts expect that CDW Corp will post 4.56 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Monday, February 26th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Friday, February 23rd. CDW’s payout ratio is 25.23%.

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CDW Company Profile

CDW Corporation (CDW) is a provider of integrated information technology (IT) solutions in the United States, Canada and the United Kingdom. The Company’s segments include Corporate, Public and Other. The Corporate segment consists of private sector business customers in the United States based on employee size between Medium/Large customers, which primarily includes organizations with more than 100 employees, and Small Business customers, which primarily includes organizations with up to 100 employees.

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Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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