Geode Capital Management LLC Has $500.86 Million Holdings in CDW Corporation $CDW

Geode Capital Management LLC raised its position in CDW Corporation (NASDAQ:CDW) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,683,667 shares of the information technology services provider’s stock after buying an additional 5,588 shares during the period. Geode Capital Management LLC’s holdings in CDW were worth $500,860,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. eCIO Inc. acquired a new position in CDW in the fourth quarter valued at about $61,000. Covestor Ltd boosted its position in CDW by 53.4% in the fourth quarter. Covestor Ltd now owns 741 shares of the information technology services provider’s stock valued at $101,000 after buying an additional 258 shares in the last quarter. American National Bank & Trust acquired a new position in shares of CDW during the fourth quarter worth approximately $110,000. Steph & Co. lifted its position in shares of CDW by 53.3% during the fourth quarter. Steph & Co. now owns 1,150 shares of the information technology services provider’s stock worth $157,000 after purchasing an additional 400 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of CDW by 30.4% during the fourth quarter. Farther Finance Advisors LLC now owns 1,188 shares of the information technology services provider’s stock worth $162,000 after purchasing an additional 277 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Price Performance

Shares of CDW stock opened at $125.45 on Monday. CDW Corporation has a 1 year low of $97.12 and a 1 year high of $185.16. The firm’s 50 day moving average is $120.77 and its 200-day moving average is $129.15. The firm has a market capitalization of $16.03 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 1.68 and a beta of 1.00. The company has a current ratio of 1.16, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.28. The business had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.48 billion. CDW had a net margin of 4.70% and a return on equity of 49.67%. CDW’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.15 earnings per share. Sell-side analysts forecast that CDW Corporation will post 10.08 EPS for the current fiscal year.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Monday, May 25th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, May 22nd. CDW’s payout ratio is 30.66%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of CDW from $141.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. Royal Bank Of Canada upgraded shares of CDW to an “outperform” rating and set a $130.00 target price on the stock in a research report on Wednesday. JPMorgan Chase & Co. upgraded shares of CDW from a “neutral” rating to an “overweight” rating and set a $130.00 target price on the stock in a research report on Wednesday, May 27th. Citigroup reduced their target price on shares of CDW from $150.00 to $123.00 and set a “neutral” rating on the stock in a research report on Friday, May 8th. Finally, Weiss Ratings lowered shares of CDW from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $140.63.

Insider Buying and Selling at CDW

In other CDW news, Director David W. Nelms purchased 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was acquired at an average cost of $111.43 per share, with a total value of $2,005,740.00. Following the completion of the purchase, the director directly owned 51,025 shares in the company, valued at approximately $5,685,715.75. This represents a 54.50% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.82% of the stock is currently owned by company insiders.

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.