Asset Management One Co. Ltd. reduced its stake in CDW Corporation (NASDAQ:CDW) by 10.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 238,040 shares of the information technology services provider’s stock after selling 27,335 shares during the period. Asset Management One Co. Ltd. owned approximately 0.15% of CDW Corporation worth $13,733,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the company. Catalyst Capital Advisors LLC raised its stake in CDW Corporation by 12.7% in the first quarter. Catalyst Capital Advisors LLC now owns 2,080 shares of the information technology services provider’s stock worth $120,000 after buying an additional 235 shares in the last quarter. Pacer Advisors Inc. raised its stake in CDW Corporation by 7.6% in the third quarter. Pacer Advisors Inc. now owns 3,012 shares of the information technology services provider’s stock worth $138,000 after buying an additional 212 shares in the last quarter. James Investment Research Inc. purchased a new stake in CDW Corporation during the first quarter worth approximately $153,000. Creative Planning raised its stake in CDW Corporation by 179.2% in the first quarter. Creative Planning now owns 3,256 shares of the information technology services provider’s stock worth $188,000 after buying an additional 2,090 shares in the last quarter. Finally, Commerce Bank purchased a new stake in CDW Corporation during the first quarter worth approximately $211,000. 90.84% of the stock is owned by institutional investors and hedge funds.
Shares of CDW Corporation (CDW) traded down 0.19% during trading on Friday, reaching $61.94. The company’s stock had a trading volume of 1,175,079 shares. The stock’s 50 day moving average price is $59.79 and its 200 day moving average price is $56.84. The company has a market cap of $9.73 billion, a PE ratio of 25.20 and a beta of 1.08. CDW Corporation has a 52 week low of $38.89 and a 52 week high of $63.20.
CDW Corporation (NASDAQ:CDW) last released its earnings results on Wednesday, May 3rd. The information technology services provider reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.04. CDW Corporation had a return on equity of 55.44% and a net margin of 2.85%. The business had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same period last year, the business posted $0.67 earnings per share. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities research analysts predict that CDW Corporation will post $3.83 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, June 12th. Shareholders of record on Thursday, May 25th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Tuesday, May 23rd. CDW Corporation’s dividend payout ratio is currently 26.23%.
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CDW has been the subject of a number of analyst reports. Needham & Company LLC upped their price objective on shares of CDW Corporation from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, March 3rd. Zacks Investment Research downgraded CDW Corporation from a “hold” rating to a “strong sell” rating in a report on Monday, April 17th. Robert W. Baird reiterated a “hold” rating on shares of CDW Corporation in a report on Wednesday, May 3rd. Barclays PLC reiterated an “overweight” rating and issued a $64.00 target price (up previously from $62.00) on shares of CDW Corporation in a report on Monday, May 1st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $64.00 target price on shares of CDW Corporation in a report on Friday, May 19th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. CDW Corporation has an average rating of “Buy” and a consensus target price of $61.17.
In related news, insider Christina M. Corley sold 4,000 shares of CDW Corporation stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $59.01, for a total transaction of $236,040.00. Following the completion of the sale, the insider now owns 71,843 shares of the company’s stock, valued at $4,239,455.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathan J. Stevens sold 6,700 shares of CDW Corporation stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $58.91, for a total value of $394,697.00. Following the sale, the insider now directly owns 102,366 shares of the company’s stock, valued at approximately $6,030,381.06. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,400 shares of company stock valued at $2,726,408. 2.20% of the stock is owned by company insiders.
CDW Corporation Company Profile
CDW Corporation (CDW) is a provider of integrated information technology (IT) solutions in the United States, Canada and the United Kingdom. The Company’s segments include Corporate, Public and Other. The Corporate segment consists of private sector business customers in the United States based on employee size between Medium/Large customers, which primarily includes organizations with more than 100 employees, and Small Business customers, which primarily includes organizations with up to 100 employees.
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