OppenheimerFunds Inc. Decreases Position in CDW (NASDAQ:CDW)

OppenheimerFunds Inc. reduced its stake in shares of CDW (NASDAQ:CDW) by 18.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 389,366 shares of the information technology services provider’s stock after selling 89,440 shares during the quarter. OppenheimerFunds Inc. owned 0.27% of CDW worth $37,523,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Commonwealth Bank of Australia lifted its position in CDW by 0.6% during the 1st quarter. Commonwealth Bank of Australia now owns 15,888 shares of the information technology services provider’s stock worth $1,526,000 after acquiring an additional 100 shares during the period. First Mercantile Trust Co. lifted its position in CDW by 9.7% in the fourth quarter. First Mercantile Trust Co. now owns 1,470 shares of the information technology services provider’s stock worth $119,000 after purchasing an additional 130 shares during the period. Commonwealth Equity Services LLC lifted its position in CDW by 3.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 4,903 shares of the information technology services provider’s stock worth $397,000 after purchasing an additional 143 shares during the period. First Hawaiian Bank lifted its position in CDW by 0.8% in the first quarter. First Hawaiian Bank now owns 19,642 shares of the information technology services provider’s stock worth $1,893,000 after purchasing an additional 158 shares during the period. Finally, Mackenzie Financial Corp lifted its position in CDW by 4.7% in the fourth quarter. Mackenzie Financial Corp now owns 3,619 shares of the information technology services provider’s stock worth $293,000 after purchasing an additional 164 shares during the period. Institutional investors own 90.77% of the company’s stock.

Shares of NASDAQ CDW traded down $0.48 during trading on Wednesday, hitting $105.37. The company had a trading volume of 6,038 shares, compared to its average volume of 780,380. The stock has a market capitalization of $15.46 billion, a P/E ratio of 20.65 and a beta of 1.08. CDW has a 52 week low of $74.32 and a 52 week high of $111.59. The company has a debt-to-equity ratio of 3.61, a quick ratio of 1.10 and a current ratio of 1.29.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, May 1st. The information technology services provider reported $1.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.13. The company had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.77 billion. CDW had a return on equity of 77.94% and a net margin of 4.03%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.05 earnings per share. On average, research analysts forecast that CDW will post 5.54 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th were issued a $0.295 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $1.18 annualized dividend and a dividend yield of 1.12%. CDW’s dividend payout ratio is currently 23.14%.

In other CDW news, insider Thomas E. Richards sold 66,667 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $99.67, for a total transaction of $6,644,699.89. Following the sale, the insider now directly owns 644,443 shares of the company’s stock, valued at approximately $64,231,633.81. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Collin B. Kebo sold 3,600 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $106.28, for a total transaction of $382,608.00. Following the sale, the insider now directly owns 22,352 shares in the company, valued at $2,375,570.56. The disclosure for this sale can be found here. Insiders sold 88,203 shares of company stock worth $8,913,129 in the last ninety days. 2.25% of the stock is owned by corporate insiders.

A number of equities research analysts have weighed in on the company. Deutsche Bank assumed coverage on CDW in a research report on Tuesday. They issued a “buy” rating and a $113.00 target price for the company. BidaskClub upgraded CDW from a “hold” rating to a “buy” rating in a research report on Thursday, February 14th. ValuEngine upgraded CDW from a “hold” rating to a “buy” rating in a research report on Wednesday, February 13th. Credit Suisse Group initiated coverage on CDW in a report on Thursday, April 11th. They issued an “outperform” rating and a $117.00 price target on the stock. Finally, Northcoast Research cut CDW from a “buy” rating to a “neutral” rating in a report on Friday, April 26th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $107.75.

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CDW 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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Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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