United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,100 shares of the information technology services provider's stock, valued at approximately $497,000.
A number of other hedge funds have also recently modified their holdings of CDW. LPL Financial LLC raised its holdings in CDW by 6.3% in the 4th quarter. LPL Financial LLC now owns 42,132 shares of the information technology services provider's stock valued at $7,333,000 after buying an additional 2,503 shares during the period. Orion Portfolio Solutions LLC boosted its position in shares of CDW by 12.0% during the 4th quarter. Orion Portfolio Solutions LLC now owns 8,674 shares of the information technology services provider's stock worth $1,510,000 after purchasing an additional 927 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in CDW by 62.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 62,724 shares of the information technology services provider's stock valued at $10,916,000 after purchasing an additional 24,084 shares during the last quarter. Franklin Resources Inc. raised its position in CDW by 12.7% in the fourth quarter. Franklin Resources Inc. now owns 121,757 shares of the information technology services provider's stock valued at $21,191,000 after purchasing an additional 13,748 shares during the period. Finally, Geode Capital Management LLC lifted its stake in CDW by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider's stock worth $614,220,000 after purchasing an additional 54,341 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.
CDW Stock Performance
Shares of CDW stock traded up $3.28 during trading on Monday, reaching $172.14. The company had a trading volume of 1,316,712 shares, compared to its average volume of 835,033. CDW Corporation has a one year low of $137.31 and a one year high of $231.38. The company has a debt-to-equity ratio of 2.42, a current ratio of 1.32 and a quick ratio of 1.20. The company has a market capitalization of $22.67 billion, a PE ratio of 21.33, a PEG ratio of 2.84 and a beta of 0.95. The firm's 50 day simple moving average is $177.68 and its two-hundred day simple moving average is $175.47.
CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.96 by $0.19. The company had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $4.93 billion. CDW had a net margin of 5.10% and a return on equity of 54.90%. The business's revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.92 EPS. Sell-side analysts forecast that CDW Corporation will post 9.41 earnings per share for the current year.
CDW Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 26th were given a $0.625 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.5%. CDW's payout ratio is currently 30.98%.
Insider Transactions at CDW
In other CDW news, insider Frederick J. Kulevich sold 28,159 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $190.90, for a total transaction of $5,375,553.10. Following the transaction, the insider owned 36,077 shares in the company, valued at $6,887,099.30. This trade represents a 43.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christine A. Leahy sold 40,917 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $181.42, for a total transaction of $7,423,162.14. Following the completion of the transaction, the insider directly owned 144,931 shares in the company, valued at approximately $26,293,382.02. This represents a 22.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several brokerages have recently weighed in on CDW. UBS Group reduced their price objective on shares of CDW from $236.00 to $210.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. JPMorgan Chase & Co. lifted their target price on shares of CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Citigroup upped their price target on shares of CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. Finally, Barclays dropped their price target on CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a research report on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $208.50.
Get Our Latest Stock Report on CDW
CDW Company Profile
(
Free Report)
CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.
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