Synovus Financial Corp boosted its stake in shares of CDW (NASDAQ:CDW) by 62.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 1,470 shares of the information technology services provider’s stock after acquiring an additional 563 shares during the period. Synovus Financial Corp’s holdings in CDW were worth $131,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of CDW. Northern Trust Corp grew its holdings in shares of CDW by 1.9% during the second quarter. Northern Trust Corp now owns 1,171,168 shares of the information technology services provider’s stock worth $94,620,000 after buying an additional 21,755 shares in the last quarter. Madison Investment Holdings Inc. grew its holdings in shares of CDW by 2.4% during the second quarter. Madison Investment Holdings Inc. now owns 1,151,278 shares of the information technology services provider’s stock worth $93,012,000 after buying an additional 27,054 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of CDW by 7.3% during the second quarter. Bank of New York Mellon Corp now owns 868,395 shares of the information technology services provider’s stock worth $70,158,000 after buying an additional 59,184 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of CDW by 16.6% during the third quarter. First Trust Advisors LP now owns 737,445 shares of the information technology services provider’s stock worth $65,574,000 after buying an additional 105,061 shares in the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of CDW by 17.4% during the third quarter. Bank of Montreal Can now owns 538,399 shares of the information technology services provider’s stock worth $47,876,000 after buying an additional 79,816 shares in the last quarter. Institutional investors own 89.40% of the company’s stock.
In related news, insider Christina V. Rother sold 4,000 shares of the company’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $87.63, for a total value of $350,520.00. Following the completion of the sale, the insider now owns 110,231 shares of the company’s stock, valued at $9,659,542.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas E. Richards sold 17,143 shares of the company’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $86.15, for a total transaction of $1,476,869.45. Following the completion of the transaction, the insider now directly owns 617,218 shares in the company, valued at approximately $53,173,330.70. The disclosure for this sale can be found here. Insiders sold 89,307 shares of company stock valued at $7,698,465 in the last three months. 2.60% of the stock is currently owned by insiders.
Shares of CDW opened at $91.08 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.41 and a debt-to-equity ratio of 2.75. CDW has a 12-month low of $65.59 and a 12-month high of $92.18. The stock has a market capitalization of $13.53 billion, a P/E ratio of 23.47 and a beta of 1.02.
CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, October 31st. The information technology services provider reported $1.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.34 by $0.08. CDW had a net margin of 4.24% and a return on equity of 70.39%. The firm had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the prior year, the firm posted $1.08 earnings per share. CDW’s quarterly revenue was up 11.2% on a year-over-year basis. Equities research analysts anticipate that CDW will post 4.88 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Monday, November 26th will be issued a $0.295 dividend. The ex-dividend date of this dividend is Friday, November 23rd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.30%. This is a positive change from CDW’s previous quarterly dividend of $0.21. CDW’s dividend payout ratio is currently 21.65%.
A number of research firms have recently issued reports on CDW. ValuEngine raised shares of CDW from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. BidaskClub lowered shares of CDW from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 25th. Raymond James raised shares of CDW from an “underperform” rating to a “market perform” rating in a report on Wednesday, July 18th. Zacks Investment Research raised shares of CDW from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a report on Tuesday, October 23rd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $92.00 target price on shares of CDW in a report on Monday, July 23rd. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $88.63.
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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