Millennium Management LLC decreased its stake in shares of CDW (NASDAQ:CDW) by 46.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 129,979 shares of the information technology services provider’s stock after selling 111,462 shares during the period. Millennium Management LLC’s holdings in CDW were worth $9,032,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of CDW. Meadow Creek Investment Management LLC raised its position in CDW by 34.7% in the fourth quarter. Meadow Creek Investment Management LLC now owns 9,894 shares of the information technology services provider’s stock worth $688,000 after acquiring an additional 2,550 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its position in CDW by 22.9% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,018 shares of the information technology services provider’s stock worth $279,000 after acquiring an additional 748 shares during the period. Teachers Advisors LLC raised its position in CDW by 2.7% in the fourth quarter. Teachers Advisors LLC now owns 392,742 shares of the information technology services provider’s stock worth $27,292,000 after acquiring an additional 10,221 shares during the period. Paloma Partners Management Co bought a new position in CDW in the fourth quarter worth approximately $350,000. Finally, Raymond James & Associates raised its position in CDW by 1.2% in the fourth quarter. Raymond James & Associates now owns 302,300 shares of the information technology services provider’s stock worth $21,007,000 after acquiring an additional 3,575 shares during the period. Institutional investors own 91.20% of the company’s stock.
CDW has been the topic of several recent research reports. Zacks Investment Research downgraded shares of CDW from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Royal Bank of Canada reiterated a “buy” rating and issued a $80.00 price target on shares of CDW in a research report on Monday, January 15th. JPMorgan Chase initiated coverage on shares of CDW in a research report on Wednesday, March 7th. They issued a “neutral” rating and a $83.00 price target on the stock. BidaskClub upgraded shares of CDW from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 21st. Finally, Needham & Company LLC increased their price target 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $75.78.
In related news, insider Thomas E. Richards sold 13,721 shares of the firm’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $72.93, for a total transaction of $1,000,672.53. Following the completion of the transaction, the insider now directly owns 642,302 shares of the company’s stock, valued at $46,843,084.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Neil B. Fairfield sold 700 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 3,168 shares of the company’s stock, valued at $235,255.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,812 shares of company stock valued at $3,372,989. Corporate insiders own 2.60% of the company’s stock.
Shares of NASDAQ CDW opened at $70.12 on Wednesday. The company has a debt-to-equity ratio of 3.27, a current ratio of 1.34 and a quick ratio of 1.16. The firm has a market capitalization of $10,349.94, a PE ratio of 18.07 and a beta of 1.08. CDW has a 1 year low of $55.80 and a 1 year high of $76.73.
CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $0.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.05. The firm had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.85 billion. CDW had a net margin of 3.44% and a return on equity of 65.93%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.86 earnings per share. research analysts predict that CDW will post 4.56 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Monday, February 26th were paid a $0.21 dividend. The ex-dividend date was Friday, February 23rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.20%. CDW’s dividend payout ratio (DPR) is presently 21.65%.
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CDW Corporation provides integrated information technology (IT) solutions to business, government, education, and healthcare customers in the United States, Canada, and the United Kingdom. It operates through three segments, Corporate, Small Business, and Public. The company offers discrete hardware and software products, as well as integrated IT solutions, including mobility, security, data center optimization, cloud computing, virtualization, and collaboration.
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