Shell Asset Management Co. grew its stake in shares of CDW (NASDAQ:CDW) by 7.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,152 shares of the information technology services provider’s stock after buying an additional 755 shares during the quarter. Shell Asset Management Co.’s holdings in CDW were worth $992,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Bessemer Group Inc. lifted its holdings in CDW by 149.5% in the third quarter. Bessemer Group Inc. now owns 1,295 shares of the information technology services provider’s stock worth $115,000 after buying an additional 776 shares during the period. Synovus Financial Corp lifted its holdings in CDW by 62.1% in the third quarter. Synovus Financial Corp now owns 1,470 shares of the information technology services provider’s stock worth $131,000 after buying an additional 563 shares during the period. Bank of Hawaii purchased a new stake in CDW in the second quarter worth about $209,000. Measured Wealth Private Client Group LLC purchased a new stake in CDW in the second quarter worth about $224,000. Finally, Alta Capital Management LLC purchased a new stake in CDW in the third quarter worth about $232,000. 89.85% of the stock is currently owned by hedge funds and other institutional investors.
CDW has been the subject of several research analyst reports. BidaskClub upgraded shares of CDW from a “hold” rating to a “buy” rating in a report on Wednesday, October 17th. Zacks Investment Research lowered shares of CDW from a “buy” rating to a “hold” rating in a report on Wednesday, October 3rd. Finally, ValuEngine lowered shares of CDW from a “buy” rating to a “hold” rating in a report on Monday, October 8th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $88.63.
CDW stock opened at $93.85 on Wednesday. CDW has a 52-week low of $66.88 and a 52-week high of $96.75. The company has a market cap of $13.90 billion, a PE ratio of 24.19 and a beta of 1.03. 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 earnings results on Wednesday, October 31st. The information technology services provider reported $1.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.08. CDW had a net margin of 4.24% and a return on equity of 70.39%. The firm had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period last year, the business earned $1.08 earnings per share. The business’s revenue was up 11.2% on a year-over-year basis. Sell-side analysts predict that CDW will post 4.88 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Monday, November 26th will be issued a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 1.26%. This is a positive change from CDW’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, November 23rd. CDW’s dividend payout ratio (DPR) is presently 30.41%.
In other news, insider Frederick J. Kulevich sold 2,421 shares of CDW stock in a transaction that occurred on Monday, November 12th. The shares were sold at an average price of $89.25, for a total transaction of $216,074.25. Following the completion of the transaction, the insider now directly owns 18,925 shares in the company, valued at $1,689,056.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christina M. Corley sold 14,900 shares of CDW stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $88.39, for a total transaction of $1,317,011.00. Following the transaction, the insider now owns 51,077 shares of the company’s stock, valued at $4,514,696.03. The disclosure for this sale can be found here. Insiders have sold 91,252 shares of company stock valued at $7,918,866 over the last quarter. Company insiders own 2.60% of the company’s stock.
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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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