Natixis boosted its stake in CDW (NASDAQ:CDW) by 29.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 103,742 shares of the information technology services provider’s stock after purchasing an additional 23,675 shares during the quarter. Natixis owned about 0.07% of CDW worth $11,515,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Johnson Financial Group Inc. purchased a new stake in shares of CDW during the 2nd quarter worth about $28,000. Berman Capital Advisors LLC raised its holdings in CDW by 166.3% in the second quarter. Berman Capital Advisors LLC now owns 277 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 173 shares during the period. Cullen Frost Bankers Inc. lifted its position in CDW by 478.4% during the second quarter. Cullen Frost Bankers Inc. now owns 295 shares of the information technology services provider’s stock valued at $33,000 after buying an additional 244 shares in the last quarter. Liberty Wealth Management LLC acquired a new position in CDW during the second quarter valued at approximately $56,000. Finally, Kavar Capital Partners LLC purchased a new stake in CDW during the second quarter worth approximately $61,000. 91.71% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Thomas E. Richards sold 66,667 shares of the stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $105.31, for a total transaction of $7,020,701.77. Following the transaction, the insider now owns 644,443 shares of the company’s stock, valued at $67,866,292.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas E. Richards sold 62,222 shares of CDW stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $113.66, for a total value of $7,072,152.52. Following the completion of the transaction, the insider now owns 639,998 shares of the company’s stock, valued at $72,742,172.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,707 shares of company stock worth $15,077,025. 2.25% of the stock is currently owned by corporate insiders.
Several equities research analysts have recently issued reports on CDW shares. BidaskClub raised shares of CDW from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd. Deutsche Bank started coverage on shares of CDW in a report on Tuesday, June 11th. They set a “buy” rating and a $113.00 target price on the stock. Credit Suisse Group upped their price target on shares of CDW from $118.00 to $132.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Bank of America initiated coverage on CDW in a report on Tuesday, July 30th. They issued a “buy” rating and a $140.00 price target for the company. Finally, ValuEngine lowered CDW from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $118.13.
Shares of CDW traded up $0.31 during mid-day trading on Wednesday, reaching $111.81. 16,966 shares of the stock traded hands, compared to its average volume of 600,700. The stock has a fifty day simple moving average of $114.18 and a 200 day simple moving average of $106.40. CDW has a 12-month low of $74.32 and a 12-month high of $120.82. The company has a quick ratio of 1.09, a current ratio of 1.28 and a debt-to-equity ratio of 3.57. The firm has a market cap of $17.01 billion, a price-to-earnings ratio of 21.91, a P/E/G ratio of 1.60 and a beta of 1.10.
CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, July 31st. The information technology services provider reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.10. CDW had a net margin of 4.07% and a return on equity of 82.78%. The business had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.50 billion. During the same period in the prior year, the firm earned $1.38 earnings per share. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, equities research analysts expect that CDW will post 5.62 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were given a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date was Friday, August 23rd. CDW’s payout ratio is 23.14%.
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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