Los Angeles Capital Management & Equity Research Inc. increased its stake in CDW (NASDAQ:CDW) by 1.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 105,135 shares of the information technology services provider’s stock after purchasing an additional 1,270 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned 0.07% of CDW worth $10,132,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of CDW. LPL Financial LLC increased its holdings in CDW by 2.5% in the 4th quarter. LPL Financial LLC now owns 7,943 shares of the information technology services provider’s stock valued at $644,000 after acquiring an additional 197 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO increased its holdings in CDW by 198.4% in the 4th quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 13,324 shares of the information technology services provider’s stock valued at $1,080,000 after acquiring an additional 8,859 shares during the last quarter. First Hawaiian Bank increased its holdings in CDW by 0.8% in the 1st quarter. First Hawaiian Bank now owns 19,642 shares of the information technology services provider’s stock valued at $1,893,000 after acquiring an additional 158 shares during the last quarter. Cerebellum GP LLC increased its holdings in CDW by 62.3% in the 4th quarter. Cerebellum GP LLC now owns 3,316 shares of the information technology services provider’s stock valued at $269,000 after acquiring an additional 1,273 shares during the last quarter. Finally, Calamos Wealth Management LLC bought a new stake in CDW in the 4th quarter valued at $405,000. Institutional investors own 92.32% of the company’s stock.
In other CDW news, insider Thomas E. Richards sold 16,636 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $105.32, for a total value of $1,752,103.52. Following the completion of the sale, the insider now directly owns 643,899 shares of the company’s stock, valued at approximately $67,815,442.68. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jill M. Billhorn sold 5,202 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $95.00, for a total transaction of $494,190.00. Following the completion of the sale, the insider now owns 17,948 shares of the company’s stock, valued at approximately $1,705,060. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,305 shares of company stock valued at $3,107,548. 2.25% of the stock is owned by corporate insiders.
Shares of CDW stock traded down $0.23 during trading hours on Wednesday, reaching $106.09. 509,394 shares of the stock were exchanged, compared to its average volume of 794,322. CDW has a 12-month low of $74.32 and a 12-month high of $111.59. The company has a current ratio of 1.29, a quick ratio of 1.10 and a debt-to-equity ratio of 3.61. The stock has a market cap of $15.24 billion, a PE ratio of 20.80 and a beta of 1.07.
CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, May 1st. The information technology services provider reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.13. The firm had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.77 billion. CDW had a net margin of 4.03% and a return on equity of 77.94%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.05 EPS. Sell-side analysts forecast that CDW will post 5.54 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th will be given a $0.295 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $1.18 annualized dividend and a yield of 1.11%. CDW’s dividend payout ratio (DPR) is 23.14%.
CDW has been the topic of a number of research reports. BidaskClub upgraded shares of CDW from a “hold” rating to a “buy” rating in a report on Friday, March 15th. Zacks Investment Research upgraded shares of CDW from a “hold” rating to a “strong-buy” rating and set a $125.00 target price on the stock in a report on Tuesday, May 7th. Stifel Nicolaus downgraded shares of CDW from a “buy” rating to a “hold” rating and boosted their target price for the stock from $100.00 to $105.00 in a report on Wednesday, April 17th. Northcoast Research downgraded shares of 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. Finally, Credit Suisse Group initiated coverage on shares of CDW in a research note on Thursday, April 11th. They set an “outperform” rating and a $117.00 price target for the company. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $104.83.
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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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