CDW Corporation $CDW Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. trimmed its position in CDW Corporation (NASDAQ:CDW) by 8.9% in the fourth quarter, Holdings Channel reports. The firm owned 1,042,905 shares of the information technology services provider’s stock after selling 101,315 shares during the quarter. Bessemer Group Inc.’s holdings in CDW were worth $142,043,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CDW. Marshall Wace LLP grew its stake in CDW by 255.7% in the third quarter. Marshall Wace LLP now owns 599,248 shares of the information technology services provider’s stock worth $95,448,000 after purchasing an additional 430,796 shares in the last quarter. Border to Coast Pensions Partnership Ltd acquired a new position in CDW in the third quarter worth about $29,649,000. SG Americas Securities LLC lifted its holdings in CDW by 531.9% in the fourth quarter. SG Americas Securities LLC now owns 189,285 shares of the information technology services provider’s stock worth $25,781,000 after acquiring an additional 159,332 shares during the last quarter. PFA Pension Forsikringsaktieselskab bought a new position in CDW in the fourth quarter worth about $16,274,000. Finally, Danske Bank A S bought a new position in CDW in the third quarter worth about $13,347,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CDW shares. Barclays cut their target price on shares of CDW from $144.00 to $123.00 and set an “equal weight” rating on the stock in a report on Thursday, May 7th. JPMorgan Chase & Co. cut their target price on shares of CDW from $160.00 to $130.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. UBS Group cut their target price on shares of CDW from $162.00 to $147.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Raymond James Financial set a $150.00 target price on shares of CDW in a report on Wednesday, May 6th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of CDW in a report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $142.14.

CDW Stock Performance

Shares of NASDAQ CDW opened at $102.07 on Friday. The firm’s 50-day moving average price is $122.39 and its two-hundred day moving average price is $132.10. The stock has a market capitalization of $13.04 billion, a P/E ratio of 12.42, a P/E/G ratio of 1.38 and a beta of 1.04. The company has a quick ratio of 1.06, a current ratio of 1.16 and a debt-to-equity ratio of 1.81. CDW Corporation has a 52-week low of $97.12 and a 52-week high of $189.45.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.28. The company had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.48 billion. CDW had a return on equity of 49.67% and a net margin of 4.70%.The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.15 earnings per share. As a group, sell-side analysts forecast that CDW Corporation will post 10.01 earnings per share for the current year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Monday, May 25th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, May 22nd. CDW’s payout ratio is 30.66%.

CDW Company Profile

CDW (NASDAQ: CDW) is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.

CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.