FineMark National Bank & Trust raised its holdings in CDW (NASDAQ:CDW) by 2.9% during the first quarter, HoldingsChannel reports. The firm owned 88,332 shares of the information technology services provider’s stock after purchasing an additional 2,449 shares during the quarter. FineMark National Bank & Trust’s holdings in CDW were worth $8,513,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in CDW. Norges Bank purchased a new stake in shares of CDW during the 4th quarter worth approximately $117,816,000. Millennium Management LLC raised its position in shares of CDW by 398.5% during the 4th quarter. Millennium Management LLC now owns 643,285 shares of the information technology services provider’s stock worth $52,138,000 after purchasing an additional 514,231 shares during the last quarter. Wedge Capital Management L L P NC acquired a new position in shares of CDW during the 1st quarter worth approximately $43,686,000. Prudential Financial Inc. raised its position in shares of CDW by 82.3% during the 4th quarter. Prudential Financial Inc. now owns 768,612 shares of the information technology services provider’s stock worth $62,296,000 after purchasing an additional 346,983 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of CDW by 28.0% during the 4th quarter. Northern Trust Corp now owns 1,152,947 shares of the information technology services provider’s stock worth $93,447,000 after purchasing an additional 252,256 shares during the last quarter. 92.32% of the stock is currently owned by institutional investors.
Several research analysts have weighed in on the company. Northcoast Research downgraded 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. Stifel Nicolaus downgraded CDW from a “buy” rating to a “hold” rating and boosted their price target for the company from $100.00 to $105.00 in a report on Wednesday, April 17th. BidaskClub upgraded CDW from a “hold” rating to a “buy” rating in a report on Thursday, February 14th. Credit Suisse Group assumed coverage on CDW in a report on Thursday, April 11th. They issued an “outperform” rating and a $117.00 price target for the company. Finally, ValuEngine upgraded CDW from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $104.83.
Shares of CDW opened at $104.34 on Friday. The company has a debt-to-equity ratio of 3.61, a current ratio of 1.29 and a quick ratio of 1.10. The firm has a market capitalization of $15.24 billion, a price-to-earnings ratio of 19.76 and a beta of 1.07. CDW has a fifty-two week low of $74.32 and a fifty-two week high of $111.59.
CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, May 1st. The information technology services provider reported $1.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.13. The company had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.77 billion. CDW had a return on equity of 77.94% and a net margin of 4.03%. CDW’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.05 EPS. On average, analysts forecast that CDW will post 5.54 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th will be issued a $0.295 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $1.18 annualized dividend and a yield of 1.13%. CDW’s dividend payout ratio (DPR) is presently 23.14%.
In other news, insider Jill M. Billhorn sold 5,202 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $95.00, for a total transaction of $494,190.00. Following the completion of the sale, the insider now directly owns 17,948 shares in the company, valued at approximately $1,705,060. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Thomas E. Richards sold 16,636 shares of the company’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $105.32, for a total value of $1,752,103.52. Following the sale, the insider now owns 643,899 shares of the company’s stock, valued at $67,815,442.68. The disclosure for this sale can be found here. Insiders sold a total of 30,305 shares of company stock valued at $3,107,548 over the last quarter. 2.25% of the stock is currently owned by insiders.
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CDW Company 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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