Caisse DE Depot ET Placement DU Quebec lowered its stake in shares of CDW Corp (NASDAQ:CDW) by 47.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,900 shares of the information technology services provider’s stock after selling 31,100 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in CDW were worth $2,425,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the company. Nationwide Fund Advisors boosted its holdings in CDW by 2.1% in the third quarter. Nationwide Fund Advisors now owns 270,818 shares of the information technology services provider’s stock worth $17,874,000 after purchasing an additional 5,478 shares during the period. Toronto Dominion Bank boosted its holdings in CDW by 236.2% in the third quarter. Toronto Dominion Bank now owns 6,634 shares of the information technology services provider’s stock worth $438,000 after purchasing an additional 4,661 shares during the period. Massey Quick Simon & CO. LLC acquired a new position in CDW in the third quarter worth $257,000. Bank of New York Mellon Corp boosted its holdings in CDW by 1.7% in the third quarter. Bank of New York Mellon Corp now owns 792,658 shares of the information technology services provider’s stock worth $52,315,000 after purchasing an additional 13,336 shares during the period. Finally, Chartwell Investment Partners LLC acquired a new position in CDW in the third quarter worth $982,000. 91.19% of the stock is owned by institutional investors and hedge funds.
In related news, insider Neil B. Fairfield sold 700 shares of CDW stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $74.26, for a total transaction of $51,982.00. Following the sale, the insider now directly owns 3,168 shares in the company, valued at $235,255.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Thomas E. Richards sold 14,368 shares of CDW 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 owns 670,391 shares in the company, valued at $45,921,783.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,375 shares of company stock worth $4,649,732. Company insiders own 2.60% of the company’s stock.
CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $0.98 earnings per share 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 65.93%. The business had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.85 billion. During the same period in the previous year, the business earned $0.86 earnings per share. The company’s revenue was up 9.9% on a year-over-year basis. equities research analysts anticipate that CDW Corp will post 4.56 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 12th. Investors of record on Monday, February 26th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date was Friday, February 23rd. CDW’s dividend payout ratio is currently 29.58%.
A number of equities research analysts have issued reports on CDW shares. Zacks Investment Research cut CDW from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. ValuEngine upgraded CDW from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Royal Bank of Canada reiterated a “buy” rating and issued a $80.00 target price on shares of CDW in a research note on Monday, January 15th. BidaskClub upgraded CDW from a “hold” rating to a “buy” rating in a research note on Monday, February 5th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $80.00 target price on shares of CDW in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $74.56.
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CDW Company Profile
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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