Aviva PLC Sells 3,351 Shares of CDW (CDW)

Aviva PLC cut its holdings in shares of CDW (NASDAQ:CDW) by 4.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 71,824 shares of the information technology services provider’s stock after selling 3,351 shares during the quarter. Aviva PLC’s holdings in CDW were worth $6,387,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Aperio Group LLC grew its holdings in CDW by 24.1% during the second quarter. Aperio Group LLC now owns 57,808 shares of the information technology services provider’s stock worth $4,670,000 after purchasing an additional 11,239 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of CDW by 5.2% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 472,903 shares of the information technology services provider’s stock valued at $38,206,000 after buying an additional 23,428 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of CDW in the second quarter valued at approximately $1,458,000. Bank of Hawaii bought a new stake in shares of CDW in the second quarter valued at approximately $209,000. Finally, Rhumbline Advisers boosted its stake in shares of CDW by 5.0% in the second quarter. Rhumbline Advisers now owns 174,879 shares of the information technology services provider’s stock valued at $14,128,000 after buying an additional 8,389 shares during the period. 89.85% of the stock is owned by institutional investors.

Several research analysts have commented on the stock. BidaskClub upgraded shares of CDW from a “hold” rating to a “buy” rating in a research report on Wednesday, October 17th. Zacks Investment Research downgraded shares of CDW from a “buy” rating to a “hold” rating in a research report on Wednesday, October 3rd. Finally, ValuEngine downgraded shares of CDW from a “buy” rating to a “hold” rating in a research report on Monday, October 8th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $88.63.

Shares of NASDAQ:CDW opened at $95.54 on Friday. The firm has a market cap of $14.08 billion, a PE ratio of 24.62 and a beta of 1.03. The company has a debt-to-equity ratio of 2.75, a current ratio of 1.41 and a quick ratio of 1.24. CDW has a 52-week low of $66.88 and a 52-week high of $96.75.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, October 31st. The information technology services provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.08. The company had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.24 billion. CDW had a net margin of 4.24% and a return on equity of 70.39%. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.08 earnings per share. On average, sell-side analysts anticipate that CDW will post 4.88 EPS for the current year.

The business also recently declared 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. The ex-dividend date of this dividend is Friday, November 23rd. This is an increase from CDW’s previous quarterly dividend of $0.21. This represents a $1.18 annualized dividend and a dividend yield of 1.24%. CDW’s dividend payout ratio is 30.41%.

In related news, insider Christina M. Corley sold 14,900 shares of the business’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $88.39, for a total value of $1,317,011.00. Following the sale, the insider now owns 51,077 shares of the company’s stock, valued at $4,514,696.03. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Christina V. Rother sold 4,000 shares of the business’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $87.63, for a total transaction of $350,520.00. Following the completion of the sale, the insider now directly owns 110,231 shares in the company, valued at approximately $9,659,542.53. The disclosure for this sale can be found here. Insiders have sold 85,114 shares of company stock valued at $7,385,965 over the last quarter. Company insiders own 2.60% of the company’s stock.

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About CDW

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.

Further Reading: Coverage Ratio

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Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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