Bessemer Group Inc. Decreases Holdings in CDW Corporation $CDW

Bessemer Group Inc. lessened its stake in shares of CDW Corporation (NASDAQ:CDW) by 98.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,123 shares of the information technology services provider’s stock after selling 1,027,782 shares during the period. Bessemer Group Inc.’s holdings in CDW were worth $1,831,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Root Financial Partners LLC boosted its position in CDW by 54.7% during the first quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 93 shares during the period. New Mexico Educational Retirement Board raised its holdings in CDW by 1.7% during the 4th quarter. New Mexico Educational Retirement Board now owns 6,050 shares of the information technology services provider’s stock valued at $824,000 after acquiring an additional 100 shares during the period. Empowered Funds LLC lifted its position in shares of CDW by 1.2% during the first quarter. Empowered Funds LLC now owns 18,076 shares of the information technology services provider’s stock worth $2,897,000 after acquiring an additional 216 shares in the last quarter. Brown Brothers Harriman & Co. boosted its holdings in shares of CDW by 38.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 912 shares of the information technology services provider’s stock worth $124,000 after acquiring an additional 254 shares during the period. Finally, Public Employees Retirement System of Ohio grew its position in shares of CDW by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 41,100 shares of the information technology services provider’s stock valued at $6,546,000 after purchasing an additional 255 shares in the last quarter. 93.15% of the stock is owned by institutional investors.

Insider Transactions at CDW

In related news, Director David W. Nelms bought 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was bought 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 owned 51,025 shares of the company’s stock, valued at approximately $5,685,715.75. The trade was a 54.50% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.82% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CDW has been the subject of several analyst reports. Weiss Ratings upgraded CDW from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. Barclays lowered their price target on shares of CDW from $144.00 to $123.00 and set an “equal weight” rating on the stock in a report on Thursday, May 7th. UBS Group reduced their price objective on shares of CDW from $162.00 to $147.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. JPMorgan Chase & Co. raised shares of CDW from a “neutral” rating to an “overweight” rating and set a $130.00 target price on the stock in a report on Wednesday, May 27th. Finally, Citigroup increased their target price on shares of CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, CDW currently has an average rating of “Moderate Buy” and an average price target of $146.88.

CDW Stock Performance

NASDAQ CDW opened at $129.83 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.16 and a debt-to-equity ratio of 1.81. CDW Corporation has a 12-month low of $97.12 and a 12-month high of $183.66. The firm has a market cap of $16.59 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 1.72 and a beta of 0.97. The company has a 50-day simple moving average of $128.09 and a two-hundred day simple moving average of $126.87.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 EPS for the quarter, meeting analysts’ consensus estimates of $2.28. The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.48 billion. CDW had a return on equity of 49.67% and a net margin of 4.70%.The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.15 earnings per share. On average, equities analysts forecast that CDW Corporation will post 10.21 EPS for the current year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, May 25th were paid a dividend of $0.63 per share. The ex-dividend date was Friday, May 22nd. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.9%. CDW’s payout ratio is 30.66%.

CDW 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.