CDW (CDW) Position Boosted by Commonwealth Bank of Australia

Commonwealth Bank of Australia lifted its holdings in CDW (NASDAQ:CDW) by 3.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,976 shares of the information technology services provider’s stock after purchasing an additional 600 shares during the period. Commonwealth Bank of Australia’s holdings in CDW were worth $1,417,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. increased its stake in CDW by 149.5% during the 3rd quarter. Bessemer Group Inc. now owns 1,295 shares of the information technology services provider’s stock worth $115,000 after buying an additional 776 shares in the last quarter. Synovus Financial Corp increased its stake in CDW by 62.1% during the 3rd quarter. Synovus Financial Corp now owns 1,470 shares of the information technology services provider’s stock worth $131,000 after buying an additional 563 shares in the last quarter. Bank of Hawaii purchased a new stake in CDW during the 2nd quarter worth approximately $209,000. Measured Wealth Private Client Group LLC purchased a new stake in CDW during the 2nd quarter worth approximately $224,000. Finally, Alta Capital Management LLC purchased a new stake in CDW during the 3rd quarter worth approximately $232,000. Hedge funds and other institutional investors own 89.88% of the company’s stock.

In related news, insider Frederick J. Kulevich sold 2,421 shares of the company’s stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $89.25, for a total value of $216,074.25. Following the transaction, the insider now directly owns 18,925 shares in the company, valued at $1,689,056.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas E. Richards sold 18,182 shares of the company’s stock in a transaction that occurred on Thursday, October 11th. The shares were sold at an average price of $81.48, for a total value of $1,481,469.36. Following the completion of the transaction, the insider now owns 51,077 shares in the company, valued at $4,161,753.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 91,252 shares of company stock worth $7,918,866. Insiders own 2.60% of the company’s stock.

CDW has been the subject of several research reports. ValuEngine upgraded CDW from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. Zacks Investment Research upgraded CDW from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research note on Tuesday, October 23rd. BidaskClub upgraded CDW from a “hold” rating to a “buy” rating in a report on Wednesday, October 17th. Needham & Company LLC boosted their target price on CDW from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. Finally, Morgan Stanley boosted their target price on CDW from $78.00 to $89.00 and gave the stock an “equal weight” rating in a report on Friday, August 3rd. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $88.63.

Shares of CDW stock opened at $86.73 on Friday. The company has a market cap of $13.01 billion, a PE ratio of 18.11 and a beta of 1.02. CDW has a 1-year low of $65.98 and a 1-year high of $92.18. The company has a debt-to-equity ratio of 2.75, a quick ratio of 1.24 and a current ratio of 1.41.

CDW (NASDAQ:CDW) last issued its earnings results 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. The business had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $4.24 billion. CDW had a return on equity of 70.39% and a net margin of 4.24%. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.08 EPS. As a group, analysts expect that CDW will post 4.88 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Monday, November 26th will be issued a dividend of $0.295 per share. This is a boost from CDW’s previous quarterly dividend of $0.21. This represents a $1.18 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Friday, November 23rd. CDW’s payout ratio is currently 21.65%.

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About CDW

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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Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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