Meeder Asset Management Inc. grew its position in CDW (NASDAQ:CDW) by 399.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,012 shares of the information technology services provider’s stock after buying an additional 12,006 shares during the quarter. Meeder Asset Management Inc.’s holdings in CDW were worth $1,666,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. AQR Capital Management LLC raised its position in shares of CDW by 65.6% in the 1st quarter. AQR Capital Management LLC now owns 3,418,230 shares of the information technology services provider’s stock valued at $328,150,000 after buying an additional 1,354,651 shares in the last quarter. JPMorgan Chase & Co. increased its position in CDW by 5.9% during the 1st quarter. JPMorgan Chase & Co. now owns 3,053,205 shares of the information technology services provider’s stock worth $294,237,000 after purchasing an additional 168,943 shares in the last quarter. American Century Companies Inc. increased its position in CDW by 10.6% during the 1st quarter. American Century Companies Inc. now owns 2,384,709 shares of the information technology services provider’s stock worth $229,814,000 after purchasing an additional 228,818 shares in the last quarter. Wells Fargo & Company MN increased its position in CDW by 7.6% during the 1st quarter. Wells Fargo & Company MN now owns 1,621,738 shares of the information technology services provider’s stock worth $156,287,000 after purchasing an additional 114,778 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in CDW by 11.9% during the 4th quarter. Geode Capital Management LLC now owns 1,598,078 shares of the information technology services provider’s stock worth $129,445,000 after purchasing an additional 169,507 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.
NASDAQ CDW traded up $0.70 on Tuesday, hitting $115.01. The company’s stock had a trading volume of 2,639 shares, compared to its average volume of 762,979. The company has a quick ratio of 1.09, a current ratio of 1.28 and a debt-to-equity ratio of 3.57. CDW has a 1-year low of $74.32 and a 1-year high of $120.82. The company’s 50-day moving average is $113.41 and its 200 day moving average is $103.65. The firm has a market cap of $16.16 billion, a PE ratio of 22.55, a PEG ratio of 1.52 and a beta of 1.10.
CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $1.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.10. CDW had a net margin of 4.07% and a return on equity of 82.78%. The firm had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.50 billion. During the same period in the prior year, the company posted $1.38 EPS. The company’s revenue was up 10.6% on a year-over-year basis. On average, equities analysts expect that CDW will post 5.62 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th will be given a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 1.03%. The ex-dividend date is Friday, August 23rd. CDW’s dividend payout ratio (DPR) is currently 23.14%.
In other news, insider Thomas E. Richards sold 66,667 shares of the company’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $99.67, for a total value of $6,644,699.89. Following the sale, the insider now directly owns 644,443 shares of the company’s stock, valued at approximately $64,231,633.81. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Robert F. Kirby sold 1,300 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $116.22, for a total transaction of $151,086.00. Following the completion of the sale, the insider now directly owns 35,070 shares in the company, valued at $4,075,835.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 204,374 shares of company stock valued at $21,721,725. Corporate insiders own 2.25% of the company’s stock.
CDW has been the subject of a number of research analyst reports. BidaskClub upgraded shares of CDW from a “hold” rating to a “buy” rating in a research report on Tuesday, July 2nd. Morgan Stanley upped their price objective on shares of CDW from $97.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Bank of America initiated coverage on shares of CDW in a research report on Tuesday, July 30th. They set a “buy” rating and a $140.00 price objective for the company. Evercore ISI initiated coverage on shares of CDW in a research report on Wednesday, June 5th. They set an “outperform” rating and a $120.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of CDW from a “hold” rating to a “strong-buy” rating and set a $113.00 price objective for the company in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $118.13.
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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