Eaton Vance Management boosted its position in CDW Corp (NASDAQ:CDW) by 12.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,614,906 shares of the information technology services provider’s stock after acquiring an additional 182,692 shares during the quarter. Eaton Vance Management’s holdings in CDW were worth $112,220,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Lloyds Banking Group plc acquired a new position in CDW in the 3rd quarter worth $108,000. Cerebellum GP LLC acquired a new position in CDW in the 4th quarter worth $128,000. Toronto Dominion Bank lifted its holdings in CDW by 24.8% in the 2nd quarter. Toronto Dominion Bank now owns 1,973 shares of the information technology services provider’s stock worth $123,000 after buying an additional 392 shares in the last quarter. SG Americas Securities LLC acquired a new position in CDW in the 4th quarter worth $184,000. Finally, Biltmore Wealth Management LLC acquired a new position in CDW in the 4th quarter worth $228,000. Hedge funds and other institutional investors own 91.04% of the company’s stock.
Shares of CDW Corp (NASDAQ:CDW) opened at $71.47 on Friday. The stock has a market cap of $10,887.36, a PE ratio of 21.46 and a beta of 1.07. The company has a debt-to-equity ratio of 4.20, a current ratio of 1.37 and a quick ratio of 1.15. CDW Corp has a 12 month low of $55.80 and a 12 month high of $76.73.
CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, February 7th. The information technology services provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. CDW had a net margin of 3.44% and a return on equity of 68.41%. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.85 billion. During the same quarter in the prior year, the business posted $0.86 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. sell-side analysts forecast that CDW Corp will post 4.56 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Monday, February 26th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Friday, February 23rd. CDW’s dividend payout ratio is presently 25.23%.
In related news, insider Frederick J. Kulevich sold 2,051 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $71.30, for a total transaction of $146,236.30. Following the completion of the sale, the insider now owns 16,504 shares of the company’s stock, valued at approximately $1,176,735.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Thomas E. Richards sold 14,368 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $68.50, for a total transaction of $984,208.00. Following the sale, the insider now directly owns 670,391 shares of the company’s stock, valued at approximately $45,921,783.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,942 shares of company stock valued at $4,697,518. Insiders own 2.60% of the company’s stock.
A number of brokerages have commented on CDW. Robert W. Baird reiterated a “buy” rating and issued a $75.00 price objective on shares of CDW in a report on Wednesday, November 1st. Morgan Stanley cut their target price on shares of CDW from $72.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 8th. ValuEngine upgraded shares of CDW from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. BidaskClub upgraded shares of CDW from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 7th. Finally, Barclays restated a “hold” rating and issued a $69.00 target price on shares of CDW in a research note on Sunday, November 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $72.00.
CDW Corporation (CDW) is a provider of integrated information technology (IT) solutions in the United States, Canada and the United Kingdom. The Company’s segments include Corporate, Public and Other. The Corporate segment consists of private sector business customers in the United States based on employee size between Medium/Large customers, which primarily includes organizations with more than 100 employees, and Small Business customers, which primarily includes organizations with up to 100 employees.
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