Lingohr & Partner Asset Management GmbH reduced its holdings in CDW (NASDAQ:CDW) by 17.0% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,549 shares of the information technology services provider’s stock after selling 2,971 shares during the quarter. Lingohr & Partner Asset Management GmbH’s holdings in CDW were worth $1,294,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Private Capital Group LLC increased its stake in CDW by 351.3% in the 1st quarter. Private Capital Group LLC now owns 1,426 shares of the information technology services provider’s stock worth $100,000 after acquiring an additional 1,110 shares during the last quarter. Bank of Hawaii bought a new position in CDW in the 2nd quarter worth about $209,000. Alta Capital Management LLC bought a new position in shares of CDW during the 3rd quarter valued at about $232,000. Measured Wealth Private Client Group LLC bought a new position in shares of CDW during the 2nd quarter valued at about $224,000. Finally, Profund Advisors LLC bought a new position in shares of CDW during the 1st quarter valued at about $211,000. Institutional investors and hedge funds own 89.23% of the company’s stock.
CDW has been the topic of several recent research reports. Zacks Investment Research lowered CDW from a “buy” rating to a “hold” rating in a research report on Wednesday, October 3rd. Needham & Company LLC increased their price objective on CDW from $84.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, August 3rd. ValuEngine lowered CDW from a “buy” rating to a “hold” rating in a research report on Monday, October 8th. Morgan Stanley increased their price objective on CDW from $78.00 to $89.00 and gave the company an “equal weight” rating in a research report on Friday, August 3rd. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $92.00 price objective on shares of CDW in a research report on Monday, July 23rd. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $87.00.
In related news, insider Douglas E. Eckrote sold 10,000 shares of the stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $85.33, for a total transaction of $853,300.00. Following the completion of the sale, the insider now directly owns 166,915 shares in the company, valued at approximately $14,242,856.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christina V. Rother sold 4,000 shares of the stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $85.08, for a total value of $340,320.00. Following the sale, the insider now owns 114,231 shares of the company’s stock, valued at $9,718,773.48. The disclosure for this sale can be found here. Insiders have sold a total of 112,068 shares of company stock valued at $9,629,759 over the last 90 days. 2.60% of the stock is currently owned by company insiders.
Shares of CDW stock traded down $0.31 during trading on Thursday, hitting $83.60. 830 shares of the stock traded hands, compared to its average volume of 826,604. The company has a current ratio of 1.36, a quick ratio of 1.16 and a debt-to-equity ratio of 3.00. The firm has a market capitalization of $13.46 billion, a PE ratio of 21.63 and a beta of 1.06. CDW has a 52 week low of $65.59 and a 52 week high of $90.50.
CDW (NASDAQ:CDW) last issued its earnings results on Thursday, August 2nd. The information technology services provider reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.14. The company had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.16 billion. CDW had a return on equity of 71.09% and a net margin of 3.99%. CDW’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.03 EPS. As a group, analysts predict that CDW will post 4.85 earnings per share for the current fiscal year.
CDW Company Profile
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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