Commerce Bank lifted its position in CDW (NASDAQ:CDW) by 49.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,508 shares of the information technology services provider’s stock after buying an additional 3,469 shares during the quarter. Commerce Bank’s holdings in CDW were worth $935,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. Northern Trust Corp raised its holdings in shares of CDW by 1.9% in the 2nd quarter. Northern Trust Corp now owns 1,171,168 shares of the information technology services provider’s stock valued at $94,620,000 after buying an additional 21,755 shares during the period. Madison Investment Holdings Inc. grew its stake in CDW by 2.4% during the 2nd quarter. Madison Investment Holdings Inc. now owns 1,151,278 shares of the information technology services provider’s stock worth $93,012,000 after purchasing an additional 27,054 shares in the last quarter. Bank of New York Mellon Corp grew its stake in CDW by 7.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 868,395 shares of the information technology services provider’s stock worth $70,158,000 after purchasing an additional 59,184 shares in the last quarter. First Trust Advisors LP grew its stake in CDW by 16.6% during the 3rd quarter. First Trust Advisors LP now owns 737,445 shares of the information technology services provider’s stock worth $65,574,000 after purchasing an additional 105,061 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in CDW by 17.4% during the 3rd quarter. Bank of Montreal Can now owns 538,399 shares of the information technology services provider’s stock worth $47,876,000 after purchasing an additional 79,816 shares in the last quarter. Hedge funds and other institutional investors own 89.40% of the company’s stock.
Several research analysts recently commented on the company. Needham & Company LLC boosted their target price on CDW from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, August 3rd. Stifel Nicolaus reissued a “buy” rating and set a $92.00 target price on shares of CDW in a research note on Monday, July 23rd. BidaskClub cut CDW from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. ValuEngine cut CDW from a “buy” rating to a “hold” rating in a research note on Monday, October 8th. Finally, Northcoast Research reissued a “buy” rating and set a $93.00 target price on shares of CDW in a research note on Friday, July 20th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. CDW has a consensus rating of “Buy” and a consensus price target of $88.63.
In other news, insider Matthew A. Troka sold 6,138 shares of the company’s stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $86.82, for a total transaction of $532,901.16. Following the completion of the transaction, the insider now directly owns 73,309 shares of the company’s stock, valued at approximately $6,364,687.38. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Christina M. Corley sold 14,900 shares of the company’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $88.39, for a total value of $1,317,011.00. Following the transaction, the insider now directly owns 51,077 shares of the company’s stock, valued at $4,514,696.03. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,307 shares of company stock valued at $7,698,465. Insiders own 2.60% of the company’s stock.
CDW opened at $91.08 on Friday. CDW has a 12 month low of $65.59 and a 12 month high of $92.18. The firm has a market cap of $13.76 billion, a P/E ratio of 19.15 and a beta of 1.02. The company has a quick ratio of 1.24, a current ratio of 1.41 and a debt-to-equity ratio of 2.75.
CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, October 31st. The information technology services provider reported $1.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.08. The business had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $4.24 billion. CDW had a return on equity of 70.39% and a net margin of 4.24%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.08 EPS. As a group, research analysts forecast that CDW will post 4.88 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Monday, November 26th will be given a dividend of $0.295 per share. This is a boost from CDW’s previous quarterly dividend of $0.21. This represents a $1.18 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Friday, November 23rd. CDW’s dividend payout ratio is currently 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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