Robeco Institutional Asset Management B.V. grew its holdings in shares of CDW (NASDAQ:CDW) by 73.1% during the third quarter, HoldingsChannel.com reports. The firm owned 58,998 shares of the information technology services provider’s stock after acquiring an additional 24,907 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in CDW were worth $5,245,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Bank of Hawaii acquired a new stake in shares of CDW in the 2nd quarter worth about $209,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of CDW in the 2nd quarter worth about $224,000. Alta Capital Management LLC acquired a new stake in shares of CDW in the 3rd quarter worth about $232,000. Moneta Group Investment Advisors LLC increased its holdings in shares of CDW by 107.0% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 3,084 shares of the information technology services provider’s stock worth $249,000 after acquiring an additional 1,594 shares during the period. Finally, Capital Management Associates NY acquired a new stake in shares of CDW in the 2nd quarter worth about $388,000. 89.22% of the stock is currently owned by institutional investors.
In other news, insider Thomas E. Richards sold 16,667 shares of the firm’s stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $88.92, for a total transaction of $1,482,029.64. Following the completion of the transaction, the insider now owns 616,742 shares in the company, valued at approximately $54,840,698.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Thomas E. Richards sold 18,182 shares of the firm’s stock in a transaction dated Thursday, October 11th. The shares were sold at an average price of $81.48, for a total transaction of $1,481,469.36. Following the transaction, the insider now owns 51,077 shares of the company’s stock, valued at approximately $4,161,753.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 112,068 shares of company stock worth $9,629,759. 2.60% of the stock is owned by corporate insiders.
CDW (NASDAQ:CDW) last released its earnings results on Wednesday, October 31st. The information technology services provider reported $1.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.08. The firm had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $4.24 billion. CDW had a net margin of 4.24% and a return on equity of 70.39%. CDW’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the company earned $1.08 EPS. As a group, research analysts forecast that CDW will post 4.78 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Monday, November 26th will be paid a dividend of $0.295 per share. This is a boost from CDW’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, November 23rd. This represents a $1.18 annualized dividend and a yield of 1.34%. CDW’s dividend payout ratio (DPR) is presently 21.65%.
Several equities analysts have commented on the stock. ValuEngine raised shares of CDW from a “hold” rating to a “buy” rating in a research note on Thursday. Zacks Investment Research cut shares of CDW from a “buy” rating to a “hold” rating in a research note on Wednesday, October 3rd. Morgan Stanley raised their target price on shares of CDW from $78.00 to $89.00 and gave the company an “equal weight” rating in a research note on Friday, August 3rd. Stifel Nicolaus reissued a “buy” rating and set a $92.00 target price on shares of CDW in a research note on Monday, July 23rd. Finally, Northcoast Research reissued a “buy” rating and set a $93.00 target price on shares of CDW in a research note on Friday, July 20th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. CDW currently has a consensus rating of “Buy” and a consensus price target of $86.44.
CDW Company Profile
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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