Candriam Luxembourg S.C.A. increased its stake in shares of CDW (NASDAQ:CDW) by 161.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 12,617 shares of the information technology services provider’s stock after buying an additional 7,800 shares during the period. Candriam Luxembourg S.C.A.’s holdings in CDW were worth $1,122,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. raised its stake in CDW by 149.5% in the 3rd quarter. Bessemer Group Inc. now owns 1,295 shares of the information technology services provider’s stock worth $115,000 after purchasing an additional 776 shares in the last quarter. Synovus Financial Corp raised 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 acquired a new stake in CDW in the 2nd quarter worth about $209,000. Measured Wealth Private Client Group LLC acquired a new stake in CDW in the 2nd quarter worth about $224,000. Finally, Alta Capital Management LLC acquired a new stake in CDW in the 3rd quarter worth about $232,000. 89.88% of the stock is owned by institutional investors and hedge funds.
Several analysts have weighed in on the stock. ValuEngine upgraded shares of CDW from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. Needham & Company LLC lifted their price objective on shares of CDW from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, August 3rd. Zacks Investment Research upgraded shares of 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. Morgan Stanley lifted their price objective on shares of CDW from $78.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Friday, August 3rd. Finally, BidaskClub cut shares of CDW from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $88.63.
CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, October 31st. The information technology services provider reported $1.42 EPS for the quarter, beating the consensus estimate of $1.34 by $0.08. The company had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $4.24 billion. CDW had a net margin of 4.24% and a return on equity of 70.39%. 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 company earned $1.08 EPS. As a group, research analysts expect that CDW will post 4.88 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Monday, November 26th will be given a $0.295 dividend. The ex-dividend date of this dividend is Friday, November 23rd. 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 1.34%. CDW’s payout ratio is presently 21.65%.
In other news, insider Matthew A. Troka sold 6,138 shares of the business’s stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $86.82, for a total value of $532,901.16. Following the completion of the transaction, the insider now directly owns 73,309 shares in the company, valued at approximately $6,364,687.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Thomas E. Richards sold 18,182 shares of the business’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 transaction of $1,481,469.36. Following the completion of the transaction, the insider now owns 51,077 shares of the company’s stock, valued at $4,161,753.96. The disclosure for this sale can be found here. Insiders sold a total of 91,252 shares of company stock valued at $7,918,866 over the last 90 days. Corporate insiders own 2.60% of the company’s stock.
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.
Featured Article: Quiet Period
Receive News & Ratings for CDW Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CDW and related companies with MarketBeat.com's FREE daily email newsletter.