Trexquant Investment LP bought a new stake in CDW (NASDAQ:CDW) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 41,827 shares of the information technology services provider’s stock, valued at approximately $3,719,000.
Other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. boosted its position in shares of 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 purchasing an additional 776 shares in the last quarter. Synovus Financial Corp boosted its position in shares of 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 purchasing an additional 563 shares in the last quarter. Bank of Hawaii purchased a new stake in shares of CDW during the 2nd quarter worth $209,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of CDW during the 2nd quarter worth $224,000. Finally, Alta Capital Management LLC purchased a new stake in shares of CDW during the 3rd quarter worth $232,000. 89.88% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have commented on CDW. ValuEngine upgraded shares of CDW from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Zacks Investment Research lowered shares of CDW from a “buy” rating to a “hold” rating in a research report on Wednesday, October 3rd. Morgan Stanley boosted their target price on shares of CDW from $78.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Friday, August 3rd. Needham & Company LLC boosted their target price on shares of CDW from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, August 3rd. Finally, BidaskClub upgraded shares of CDW from a “hold” rating to a “buy” rating in a research report on Wednesday, October 17th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. CDW presently has a consensus rating of “Buy” and a consensus target price of $88.63.
CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, October 31st. The information technology services provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.08. The business had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.24 billion. CDW had a return on equity of 70.39% and a net margin of 4.24%. The business’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.08 EPS. On average, analysts expect that CDW will post 4.88 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Monday, November 26th will be paid a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Friday, November 23rd. This is an increase from CDW’s previous quarterly dividend of $0.21. CDW’s payout ratio is 21.65%.
In other news, insider Christina M. Corley sold 14,900 shares of CDW stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $88.39, for a total transaction of $1,317,011.00. Following the completion of the transaction, the insider now owns 51,077 shares of the company’s stock, valued at approximately $4,514,696.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas E. Richards sold 16,667 shares of CDW stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $88.87, for a total value of $1,481,196.29. Following the transaction, the insider now directly owns 616,742 shares of the company’s stock, valued at approximately $54,809,861.54. The disclosure for this sale can be found here. Insiders have sold a total of 91,252 shares of company stock valued at $7,918,866 in the last ninety days. Corporate insiders own 2.60% of the company’s stock.
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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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