Signaturefd LLC boosted its position in shares of CDW Corporation (NASDAQ:CDW – Free Report) by 786.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,237 shares of the information technology services provider’s stock after acquiring an additional 9,969 shares during the period. Signaturefd LLC’s holdings in CDW were worth $1,440,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Union Savings Bank raised its stake 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 during the last quarter. Manchester Capital Management LLC raised its position in shares of CDW by 10,200.0% during the third quarter. Manchester Capital Management LLC now owns 206 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 204 shares during the last quarter. Hollencrest Capital Management raised its position in shares of CDW by 909.1% during the first quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 200 shares during the last quarter. Allied Private Wealth LLC bought a new stake in shares of CDW in the second quarter valued at about $28,000. Finally, Keating Financial Advisory Services Inc. bought a new stake in shares of CDW in the second quarter valued at about $28,000. 93.15% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
CDW has been the topic of a number of recent research reports. Citigroup lifted their target price on CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Morgan Stanley upped their price target on CDW from $170.00 to $171.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Barclays reduced their price objective on CDW from $150.00 to $148.00 and set an “equal weight” rating for the company in a research report on Monday, September 21st. Finally, Weiss Ratings raised CDW from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, CDW currently has a consensus rating of “Moderate Buy” and an average price target of $150.12.
CDW Stock Down 1.1%
Shares of NASDAQ CDW opened at $163.23 on Tuesday. CDW Corporation has a 12-month low of $97.12 and a 12-month high of $166.15. The firm’s 50-day simple moving average is $145.04 and its 200 day simple moving average is $132.55. The company has a market cap of $20.41 billion, a price-to-earnings ratio of 19.62, a price-to-earnings-growth ratio of 2.16 and a beta of 0.95. The company has a quick ratio of 1.05, a current ratio of 1.17 and a debt-to-equity ratio of 1.97.
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. The firm had revenue of $6.57 billion during the quarter, compared to analysts’ expectations of $6.21 billion. CDW had a net margin of 4.60% and a return on equity of 50.61%. CDW’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.60 EPS. On average, research analysts expect that CDW Corporation will post 10.33 earnings per share for the current fiscal year.
CDW Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th were issued a dividend of $0.63 per share. The ex-dividend date was Tuesday, August 25th. This represents a $2.52 annualized dividend and a yield of 1.5%. CDW’s payout ratio is currently 30.29%.
Insiders Place Their Bets
In other CDW news, insider Elizabeth Connelly sold 26,695 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $137.62, for a total transaction of $3,673,765.90. Following the sale, the insider directly owned 34,215 shares in the company, valued at approximately $4,708,668.30. This trade represents a 43.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.82% of the company’s stock.
CDW Company 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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