Global Financial Private Capital LLC reduced its stake in CDW (NASDAQ:CDW) by 9.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,992 shares of the information technology services provider’s stock after selling 5,417 shares during the period. Global Financial Private Capital LLC’s holdings in CDW were worth $4,445,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Toronto Dominion Bank boosted its position in shares of CDW by 45.7% during the second quarter. Toronto Dominion Bank now owns 15,267 shares of the information technology services provider’s stock valued at $1,233,000 after buying an additional 4,790 shares during the last quarter. Bank of New York Mellon Corp boosted its position 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 valued at $70,158,000 after buying an additional 59,184 shares during the last quarter. Northern Trust Corp boosted its position 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 valued at $94,620,000 after buying an additional 21,755 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of CDW by 185.0% during the second quarter. SG Americas Securities LLC now owns 31,306 shares of the information technology services provider’s stock valued at $2,529,000 after buying an additional 20,321 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of CDW during the second quarter valued at $6,258,000. 89.40% of the stock is currently owned by hedge funds and other institutional investors.
CDW stock opened at $91.08 on Friday. CDW has a fifty-two week low of $65.59 and a fifty-two week high of $92.18. The company has a debt-to-equity ratio of 2.75, a quick ratio of 1.24 and a current ratio of 1.41. The stock has a market capitalization of $13.53 billion, a price-to-earnings ratio of 18.83 and a beta of 1.02.
CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, October 31st. The information technology services provider reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.08. CDW had a return on equity of 70.39% and a net margin of 4.24%. The company had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the prior year, the company earned $1.08 earnings per share. CDW’s revenue was up 11.2% on a year-over-year basis. On average, equities analysts predict that CDW will post 4.88 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Monday, November 26th will be issued a $0.295 dividend. This is an increase from CDW’s previous quarterly dividend of $0.21. The ex-dividend date is Friday, November 23rd. This represents a $1.18 dividend on an annualized basis and a yield of 1.30%. CDW’s dividend payout ratio is currently 21.65%.
In other CDW news, insider Thomas E. Richards sold 16,667 shares of the stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $88.92, for a total value of $1,482,029.64. Following the transaction, the insider now owns 616,742 shares of the company’s stock, valued at $54,840,698.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Matthew A. Troka sold 6,138 shares of the firm’s stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $86.82, for a total value of $532,901.16. Following the completion of the transaction, the insider now directly owns 73,309 shares in the company, valued at approximately $6,364,687.38. The disclosure for this sale can be found here. In the last three months, insiders sold 89,307 shares of company stock worth $7,698,465. 2.60% of the stock is owned by corporate insiders.
Several equities research analysts recently commented on the company. ValuEngine raised CDW from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Zacks Investment Research raised CDW from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a research report on Tuesday, October 23rd. BidaskClub raised CDW from a “hold” rating to a “buy” rating in a report on Wednesday, October 17th. Needham & Company LLC increased their target price on CDW from $84.00 to $100.00 and gave the company a “buy” rating in a report on Friday, August 3rd. Finally, Morgan Stanley increased their target price on CDW from $78.00 to $89.00 and gave the company an “equal weight” rating in a report on Friday, August 3rd. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $88.63.
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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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