OmniStar Financial Group Inc. lowered its position in CDW (NASDAQ:CDW) by 1.9% in the third quarter, Holdings Channel.com reports. The firm owned 11,209 shares of the information technology services provider’s stock after selling 217 shares during the quarter. OmniStar Financial Group Inc.’s holdings in CDW were worth $1,381,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. North Star Investment Management Corp. acquired a new stake in CDW in the third quarter valued at about $26,000. Johnson Financial Group Inc. acquired a new stake in CDW in the second quarter valued at about $28,000. CSat Investment Advisory L.P. acquired a new stake in CDW in the second quarter valued at about $28,000. Berman Capital Advisors LLC lifted its position in CDW by 166.3% in the second quarter. Berman Capital Advisors LLC now owns 277 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 173 shares during the period. Finally, Cullen Frost Bankers Inc. lifted its position in CDW by 478.4% in the second quarter. Cullen Frost Bankers Inc. now owns 295 shares of the information technology services provider’s stock valued at $33,000 after purchasing an additional 244 shares during the period. Hedge funds and other institutional investors own 91.37% of the company’s stock.
Shares of CDW stock traded up $1.88 during midday trading on Friday, reaching $124.42. 80,619 shares of the company traded hands, compared to its average volume of 3,061,084. The firm’s 50 day simple moving average is $117.71 and its two-hundred day simple moving average is $109.90. CDW has a 1-year low of $74.32 and a 1-year high of $124.51. The company has a debt-to-equity ratio of 3.57, a current ratio of 1.28 and a quick ratio of 1.09. The firm has a market cap of $17.80 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 1.67 and a beta of 1.09.
In other news, insider Thomas E. Richards sold 62,222 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $113.66, for a total transaction of $7,072,152.52. Following the completion of the transaction, the insider now directly owns 639,998 shares of the company’s stock, valued at approximately $72,742,172.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Thomas E. Richards sold 58,333 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $112.17, for a total transaction of $6,543,212.61. Following the transaction, the insider now directly owns 636,109 shares of the company’s stock, valued at $71,352,346.53. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 130,673 shares of company stock valued at $14,744,616. Insiders own 2.25% of the company’s stock.
A number of equities research analysts recently commented on CDW shares. JPMorgan Chase & Co. downgraded shares of CDW from a “neutral” rating to an “underweight” rating and set a $116.00 price objective for the company. in a research report on Monday, August 5th. They noted that the move was a valuation call. Credit Suisse Group lifted their price target on shares of CDW from $118.00 to $132.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Bank of America began coverage on shares of CDW in a research report on Tuesday, July 30th. They set a “buy” rating and a $140.00 price target for the company. Morgan Stanley lifted their price target on shares of CDW from $97.00 to $106.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Finally, BidaskClub upgraded shares of CDW from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $118.13.
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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