HPM Partners LLC acquired a new stake in shares of CDW Corp (NASDAQ:CDW) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,821 shares of the information technology services provider’s stock, valued at approximately $266,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of CDW. Nationwide Fund Advisors increased its position in shares of CDW by 2.1% during the third quarter. Nationwide Fund Advisors now owns 270,818 shares of the information technology services provider’s stock valued at $17,874,000 after acquiring an additional 5,478 shares during the last quarter. Toronto Dominion Bank grew its holdings in shares of CDW by 236.2% in the third quarter. Toronto Dominion Bank now owns 6,634 shares of the information technology services provider’s stock valued at $438,000 after purchasing an additional 4,661 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of CDW by 1.7% in the third quarter. Bank of New York Mellon Corp now owns 792,658 shares of the information technology services provider’s stock valued at $52,315,000 after purchasing an additional 13,336 shares in the last quarter. Chartwell Investment Partners LLC acquired a new position in shares of CDW in the third quarter valued at approximately $982,000. Finally, Renaissance Group LLC acquired a new position in shares of CDW in the third quarter valued at approximately $2,478,000. 91.18% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ CDW traded down $1.77 during trading hours on Friday, reaching $67.95. The company’s stock had a trading volume of 634,298 shares, compared to its average volume of 765,917. The stock has a market cap of $10,619.54, a price-to-earnings ratio of 17.51 and a beta of 1.08. The company has a current ratio of 1.34, a quick ratio of 1.16 and a debt-to-equity ratio of 3.27. CDW Corp has a fifty-two week low of $55.80 and a fifty-two week high of $76.73.
CDW (NASDAQ:CDW) last released its earnings results on Wednesday, February 7th. The information technology services provider reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.05. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.85 billion. CDW had a net margin of 3.44% and a return on equity of 65.93%. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 EPS. research analysts expect that CDW Corp will post 4.56 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Monday, February 26th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $0.84 annualized dividend and a dividend yield of 1.24%. CDW’s payout ratio is currently 21.65%.
A number of research analysts recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of CDW from $72.00 to $70.00 and set an “equal weight” rating for the company in a report on Thursday, February 8th. Robert W. Baird restated a “buy” rating and set a $80.00 price objective on shares of CDW in a research report on Wednesday, February 7th. Needham & Company LLC boosted their price objective on shares of CDW from $78.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, March 22nd. Zacks Investment Research downgraded shares of CDW from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Finally, BidaskClub downgraded shares of CDW from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $75.78.
In other CDW news, insider Christine A. Leahy sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $72.23, for a total value of $288,920.00. Following the completion of the sale, the insider now owns 124,677 shares of the company’s stock, valued at $9,005,419.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Neil B. Fairfield sold 700 shares of the stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $74.26, for a total transaction of $51,982.00. Following the completion of the sale, the insider now directly owns 3,168 shares of the company’s stock, valued at approximately $235,255.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,812 shares of company stock worth $3,952,269. Insiders own 2.60% of the company’s stock.
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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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