CDW Target of Unusually Large Options Trading (NASDAQ:CDW)

CDW Corporation (NASDAQ:CDW) saw unusually large options trading activity on Wednesday. Stock investors acquired 3,680 call options on the stock. This represents an increase of 2,244% compared to the average volume of 157 call options.

Insider Transactions at CDW

In other CDW news, insider Sona Chawla sold 7,400 shares of the stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $146.17, for a total value of $1,081,658.00. Following the completion of the transaction, the insider directly owned 28,110 shares of the company’s stock, valued at approximately $4,108,838.70. This trade represents a 20.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.84% of the company’s stock.

Institutional Trading of CDW

Institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP raised its position in shares of CDW by 255.7% in the 3rd quarter. Marshall Wace LLP now owns 599,248 shares of the information technology services provider’s stock worth $95,448,000 after buying an additional 430,796 shares during the period. SG Americas Securities LLC increased its stake in CDW by 1,622.9% during the second quarter. SG Americas Securities LLC now owns 202,238 shares of the information technology services provider’s stock worth $36,118,000 after acquiring an additional 190,500 shares during the last quarter. Border to Coast Pensions Partnership Ltd purchased a new position in shares of CDW in the 3rd quarter worth about $29,649,000. Danske Bank A S acquired a new position in shares of CDW in the 3rd quarter valued at about $13,347,000. Finally, BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of CDW by 1,339.7% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 49,380 shares of the information technology services provider’s stock worth $8,819,000 after purchasing an additional 45,950 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CDW has been the topic of several research reports. Barclays lowered their price target on shares of CDW from $176.00 to $148.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of CDW in a report on Thursday, October 30th. Raymond James Financial raised CDW from an “outperform” rating to a “strong-buy” rating and set a $185.00 price target for the company in a research report on Tuesday, November 25th. Morgan Stanley downgraded CDW from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $177.00 to $141.00 in a research report on Tuesday. Finally, Citigroup decreased their price objective on CDW from $160.00 to $148.00 and set a “neutral” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, CDW presently has an average rating of “Moderate Buy” and a consensus target price of $171.00.

CDW Stock Performance

NASDAQ CDW opened at $129.31 on Friday. The business’s 50-day moving average price is $139.09 and its 200 day moving average price is $155.04. The company has a current ratio of 1.39, a quick ratio of 1.30 and a debt-to-equity ratio of 2.21. CDW has a twelve month low of $124.00 and a twelve month high of $222.92. The company has a market capitalization of $16.83 billion, a PE ratio of 16.33, a price-to-earnings-growth ratio of 1.66 and a beta of 1.08.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Tuesday, November 4th. The information technology services provider reported $2.71 EPS for the quarter, beating the consensus estimate of $2.62 by $0.09. The company had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.75 billion. CDW had a return on equity of 51.89% and a net margin of 4.76%. On average, research analysts predict that CDW will post 9.41 earnings per share for the current year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 25th were paid a dividend of $0.63 per share. This is an increase from CDW’s previous quarterly dividend of $0.63. This represents a $2.52 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, November 25th. CDW’s payout ratio is 31.82%.

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.