Sunbelt Securities Inc. bought a new position in shares of CDW (NASDAQ:CDW) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,303 shares of the information technology services provider’s stock, valued at approximately $478,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in CDW. Berman Capital Advisors LLC increased its stake in shares of CDW by 166.3% during the second quarter. Berman Capital Advisors LLC now owns 277 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 173 shares during the period. Daiwa SB Investments Ltd. bought a new position in shares of CDW during the first quarter worth approximately $47,000. Liberty Wealth Management LLC bought a new position in shares of CDW during the second quarter worth approximately $56,000. Advisors Preferred LLC bought a new position in shares of CDW during the first quarter worth approximately $77,000. Finally, Rockefeller Capital Management L.P. bought a new position in shares of CDW during the first quarter worth approximately $89,000. Institutional investors own 93.57% of the company’s stock.
CDW stock traded down $0.92 during mid-day trading on Thursday, reaching $109.09. 7,474 shares of the company were exchanged, compared to its average volume of 811,890. The firm’s fifty day simple moving average is $113.26. CDW has a 12 month low of $74.32 and a 12 month high of $120.82. The company has a current ratio of 1.28, a quick ratio of 1.09 and a debt-to-equity ratio of 3.57. The company has a market cap of $16.26 billion, a price-to-earnings ratio of 21.47, a PEG ratio of 1.53 and a beta of 1.10.
CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $1.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.10. CDW had a return on equity of 82.78% and a net margin of 4.07%. The company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.50 billion. During the same quarter last year, the company posted $1.38 EPS. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, research analysts expect that CDW will post 5.62 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th will be paid a $0.295 dividend. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $1.18 annualized dividend and a dividend yield of 1.08%. CDW’s payout ratio is 23.14%.
In other news, insider Collin B. Kebo sold 3,600 shares of CDW stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $106.72, for a total value of $384,192.00. Following the transaction, the insider now owns 18,752 shares in the company, valued at approximately $2,001,213.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Thomas E. Richards sold 66,667 shares of CDW stock in a transaction on Friday, May 31st. The shares were sold at an average price of $99.67, for a total value of $6,644,699.89. Following the completion of the transaction, the insider now 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 quarter, insiders sold 140,852 shares of company stock worth $14,506,703. Corporate insiders own 2.25% of the company’s stock.
A number of equities analysts have commented on the company. Zacks Investment Research upgraded CDW from a “hold” rating to a “strong-buy” rating and set a $113.00 price objective on the stock in a research note on Tuesday, August 6th. Credit Suisse Group raised their price objective on CDW from $118.00 to $132.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. lowered CDW from a “neutral” rating to an “underweight” rating and set a $116.00 price objective on the stock. in a research note on Monday, August 5th. They noted that the move was a valuation call. Deutsche Bank assumed coverage on CDW in a research note on Tuesday, June 11th. They set a “buy” rating and a $113.00 price objective on the stock. Finally, Morgan Stanley raised their price objective on CDW from $97.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. CDW currently has an average rating of “Buy” and a consensus target price of $118.13.
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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