American Century Companies Inc. boosted its holdings in CDW (NASDAQ:CDW) by 10.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,384,709 shares of the information technology services provider’s stock after buying an additional 228,818 shares during the quarter. American Century Companies Inc.’s holdings in CDW were worth $229,814,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of CDW. Ffcm LLC purchased a new position in CDW in the fourth quarter valued at $28,000. Bronfman E.L. Rothschild L.P. increased its holdings in CDW by 218.2% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 350 shares of the information technology services provider’s stock valued at $28,000 after buying an additional 240 shares during the last quarter. PRW Wealth Management LLC purchased a new position in CDW in the fourth quarter valued at $30,000. Semmax Financial Advisors Inc. purchased a new position in CDW in the fourth quarter valued at $34,000. Finally, Daiwa SB Investments Ltd. purchased a new position in CDW in the first quarter valued at $47,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CDW stock opened at $104.24 on Friday. The stock has a market cap of $15.39 billion, a price-to-earnings ratio of 20.44 and a beta of 1.08. CDW has a 1 year low of $74.32 and a 1 year high of $111.59. The company has a debt-to-equity ratio of 3.61, a quick ratio of 1.10 and a current ratio of 1.29.
CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, May 1st. The information technology services provider reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.13. The company had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.77 billion. CDW had a return on equity of 77.94% and a net margin of 4.03%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.05 earnings per share. Analysts predict that CDW will post 5.54 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Friday, May 24th were issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend was Thursday, May 23rd. CDW’s dividend payout ratio is currently 23.14%.
In related news, insider Thomas E. Richards sold 16,636 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $105.32, for a total transaction of $1,752,103.52. Following the transaction, the insider now owns 643,899 shares of the company’s stock, valued at $67,815,442.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Thomas E. Richards sold 66,667 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $99.67, for a total value of $6,644,699.89. Following the transaction, the insider now directly owns 644,443 shares in the company, valued at approximately $64,231,633.81. The disclosure for this sale can be found here. In the last three months, insiders have sold 88,203 shares of company stock worth $8,913,129. Corporate insiders own 2.25% of the company’s stock.
Several equities analysts have issued reports on the company. BidaskClub lowered CDW from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Deutsche Bank assumed coverage on CDW in a report on Tuesday. They set a “buy” rating and a $113.00 price objective on the stock. Evercore ISI assumed coverage on CDW in a report on Wednesday, June 5th. They set an “outperform” rating and a $120.00 price objective on the stock. Zacks Investment Research raised CDW from a “hold” rating to a “strong-buy” rating and set a $125.00 price objective on the stock in a report on Tuesday, May 7th. Finally, Northcoast Research lowered CDW from a “buy” rating to a “neutral” rating in a report on Friday, April 26th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $107.75.
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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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