CDW Corporation $CDW Stock Sold by Mondrian Investment Partners LTD

Key Points

• Mondrian Investment Partners cut its CDW stake by 47.3% in the third quarter, selling 356,839 shares and retaining 398,302 shares valued at approximately $51 million. Institutional investors collectively own 93.15% of CDW.
• CDW reported quarterly earnings of $2.91 per share, exceeding the $2.80 consensus estimate, while revenue rose 10% year over year to $6.57 billion. Analysts expect full-year earnings of $10.33 per share.
• CDW’s shares opened at $165.11, near their 52-week high of $166.15. The stock pays a quarterly dividend of $0.63, and analysts maintain a “Moderate Buy” consensus rating with an average price target of $150.12.

Mondrian Investment Partners LTD decreased its position in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 47.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 398,302 shares of the information technology services provider's stock after selling 356,839 shares during the period. Mondrian Investment Partners LTD owned about 0.32% of CDW worth $51,046,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Union Savings Bank increased its holdings in CDW by 500.0% during the 3rd quarter. Union Savings Bank now owns 192 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 160 shares in the last quarter. Manchester Capital Management LLC raised its position in CDW by 10,200.0% in the 3rd quarter. Manchester Capital Management LLC now owns 206 shares of the information technology services provider's stock valued at $26,000 after purchasing an additional 204 shares during the last quarter. Hollencrest Capital Management raised its position in CDW by 909.1% in the 1st quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider's stock valued at $27,000 after purchasing an additional 200 shares during the last quarter. Allied Private Wealth LLC acquired a new position in CDW in the second quarter worth $28,000. Finally, Keating Financial Advisory Services Inc. acquired a new position in CDW in the second quarter worth $28,000. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Price Performance

CDW opened at $165.11 on Friday. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.17 and a quick ratio of 1.05. The stock has a market capitalization of $20.64 billion, a P/E ratio of 19.84, a price-to-earnings-growth ratio of 2.16 and a beta of 0.95. The company's 50 day simple moving average is $144.83 and its 200-day simple moving average is $135.12. CDW Corporation has a one year low of $97.12 and a one year high of $166.15.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.11. CDW had a net margin of 4.60% and a return on equity of 50.61%. The firm had revenue of $6.57 billion during the quarter, compared to analysts' expectations of $6.21 billion. During the same quarter in the previous year, the company posted $2.60 EPS. CDW's revenue was up 10.0% on a year-over-year basis. Sell-side analysts anticipate that CDW Corporation will post 10.33 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, August 25th. CDW's dividend payout ratio (DPR) is 30.29%.

Wall Street Analyst Weigh In

CDW has been the topic of several research analyst reports. Citigroup increased their target price on CDW from $123.00 to $145.00 and gave the stock a "neutral" rating in a report on Monday, July 13th. Barclays cut their price target on CDW from $150.00 to $148.00 and set an "equal weight" rating for the company in a report on Monday, September 21st. Morgan Stanley upped their price target on shares of CDW from $170.00 to $171.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of CDW from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $150.12.

Insider Buying and Selling at CDW

In other news, insider Elizabeth Connelly sold 26,695 shares of the business's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $137.62, for a total transaction of $3,673,765.90. Following the completion of the sale, the insider owned 34,215 shares in the company, valued at $4,708,668.30. The trade was a 43.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.82% of the stock is currently owned by insiders.

CDW Profile

CDW Corporation NASDAQ: CDW is a provider of technology products and services for business, government, education and healthcare organizations. The company helps customers plan, procure, implement and manage information technology solutions from leading hardware, software and cloud vendors.

Its offerings include computers, servers, networking equipment, data-storage systems, cybersecurity products, collaboration tools, software licensing and cloud solutions. CDW also provides professional and managed services, including technology consulting, infrastructure deployment, cloud management, security support and lifecycle services.

Founded in 1984 as Computer Discount Warehouse, CDW serves customers primarily in the United States, Canada and the United Kingdom through sales teams, digital channels and technology partnerships.

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