Icon Advisers Inc. Co. increased its position in CDW (NASDAQ:CDW) by 67.4% during the third quarter, HoldingsChannel reports. The firm owned 30,800 shares of the information technology services provider’s stock after acquiring an additional 12,400 shares during the quarter. Icon Advisers Inc. Co.’s holdings in CDW were worth $2,739,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in CDW. Synovus Financial Corp boosted its stake in CDW by 62.1% in the 3rd quarter. Synovus Financial Corp now owns 1,470 shares of the information technology services provider’s stock worth $131,000 after purchasing an additional 563 shares in the last quarter. Bank of Hawaii bought a new position in CDW during the 2nd quarter valued at about $209,000. Measured Wealth Private Client Group LLC bought a new position in CDW during the 2nd quarter valued at about $224,000. Alta Capital Management LLC bought a new position in CDW during the 3rd quarter valued at about $232,000. Finally, Moneta Group Investment Advisors LLC lifted its stake in CDW by 107.0% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 3,084 shares of the information technology services provider’s stock valued at $249,000 after acquiring an additional 1,594 shares during the period. Institutional investors own 89.40% of the company’s stock.
In other news, insider Thomas E. Richards sold 17,143 shares of the stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $86.15, for a total value of $1,476,869.45. Following the transaction, the insider now owns 617,218 shares in the company, valued at approximately $53,173,330.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christina V. Rother sold 4,000 shares of the stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $85.08, for a total transaction of $340,320.00. Following the completion of the transaction, the insider now owns 114,231 shares in the company, valued at approximately $9,718,773.48. The disclosure for this sale can be found here. Insiders sold a total of 93,307 shares of company stock worth $8,038,785 in the last quarter. Company insiders own 2.60% of the company’s stock.
CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, October 31st. The information technology services provider reported $1.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.08. CDW had a net margin of 4.24% and a return on equity of 70.39%. The firm had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the prior year, the business earned $1.08 EPS. The business’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, analysts expect that CDW will post 4.88 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Monday, November 26th will be paid a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Friday, November 23rd. This is a boost from CDW’s previous quarterly dividend of $0.21. CDW’s dividend payout ratio is 21.65%.
Several equities analysts have issued reports on CDW shares. ValuEngine cut shares of CDW from a “buy” rating to a “hold” rating in a research note on Monday, October 8th. Zacks Investment Research cut shares of CDW from a “buy” rating to a “hold” rating in a research note on Wednesday, October 3rd. BidaskClub upgraded shares of CDW from a “hold” rating to a “buy” rating in a research note on Wednesday, October 17th. Needham & Company LLC upped their target price on shares of CDW from $84.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, August 3rd. Finally, Morgan Stanley upped their target price on shares of CDW from $78.00 to $89.00 and gave the company an “equal weight” rating in a research note on Friday, August 3rd. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $88.63.
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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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