Stone Ridge Asset Management LLC purchased a new stake in CDW Corp (NASDAQ:CDW) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 21,670 shares of the information technology services provider’s stock, valued at approximately $1,506,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Kendall Capital Management acquired a new position in CDW in the 4th quarter valued at approximately $720,000. Guggenheim Capital LLC increased its position in CDW by 36.9% in the 4th quarter. Guggenheim Capital LLC now owns 111,200 shares of the information technology services provider’s stock valued at $7,727,000 after acquiring an additional 29,949 shares during the period. Deutsche Bank AG increased its position in CDW by 103.2% in the 4th quarter. Deutsche Bank AG now owns 481,229 shares of the information technology services provider’s stock valued at $33,437,000 after acquiring an additional 244,366 shares during the period. Brandywine Global Investment Management LLC increased its position in CDW by 1.6% in the 4th quarter. Brandywine Global Investment Management LLC now owns 196,310 shares of the information technology services provider’s stock valued at $13,642,000 after acquiring an additional 3,036 shares during the period. Finally, Ironvine Capital Partners LLC acquired a new position in CDW in the 4th quarter valued at approximately $2,315,000. Hedge funds and other institutional investors own 91.18% of the company’s stock.
In related news, insider Christina M. Corley sold 4,000 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $67.81, for a total transaction of $271,240.00. Following the transaction, the insider now directly owns 35,843 shares of the company’s stock, valued at $2,430,513.83. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Thomas E. Richards sold 13,721 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $72.93, for a total transaction of $1,000,672.53. Following the transaction, the insider now directly owns 642,302 shares in the company, valued at $46,843,084.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,812 shares of company stock worth $3,952,269. 2.60% of the stock is owned by insiders.
Several brokerages have issued reports on CDW. Morgan Stanley decreased their price target on shares of CDW from $72.00 to $70.00 and set an “equal weight” rating for the company in a research report on Thursday, February 8th. ValuEngine upgraded shares of CDW from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. BidaskClub cut shares of CDW from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 30th. Robert W. Baird restated a “buy” rating and issued a $80.00 price target on shares of CDW in a research report on Wednesday, February 7th. Finally, Needham & Company LLC upped their price objective on shares of CDW from $78.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, March 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $75.78.
NASDAQ:CDW opened at $67.95 on Friday. The company has a debt-to-equity ratio of 3.27, a quick ratio of 1.16 and a current ratio of 1.34. CDW Corp has a 52 week low of $55.80 and a 52 week high of $76.73. The firm has a market capitalization of $10,598.22, a PE ratio of 17.51 and a beta of 1.08.
CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $0.98 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 company’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.86 EPS. equities research analysts forecast that CDW Corp will post 4.56 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, March 12th. Investors of record on Monday, February 26th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.24%. The ex-dividend date was Friday, February 23rd. CDW’s dividend payout ratio is presently 21.65%.
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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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