CDW Corporation $CDW Shares Sold by Groesbeck Investment Management Corp NJ

Groesbeck Investment Management Corp NJ reduced its holdings in CDW Corporation (NASDAQ:CDW) by 89.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,272 shares of the information technology services provider’s stock after selling 10,464 shares during the quarter. Groesbeck Investment Management Corp NJ’s holdings in CDW were worth $203,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Fenimore Asset Management Inc boosted its position in shares of CDW by 0.4% in the third quarter. Fenimore Asset Management Inc now owns 1,141,082 shares of the information technology services provider’s stock worth $181,752,000 after acquiring an additional 4,659 shares during the last quarter. Hennessy Advisors Inc. raised its stake in CDW by 1.8% during the third quarter. Hennessy Advisors Inc. now owns 15,003 shares of the information technology services provider’s stock worth $2,390,000 after purchasing an additional 270 shares during the period. Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of CDW by 7.2% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 7,494 shares of the information technology services provider’s stock valued at $1,194,000 after purchasing an additional 504 shares during the last quarter. Franklin Street Advisors Inc. NC purchased a new stake in shares of CDW during the 3rd quarter valued at $290,000. Finally, Cardinal Capital Management Inc. grew its stake in shares of CDW by 1.5% during the 3rd quarter. Cardinal Capital Management Inc. now owns 72,985 shares of the information technology services provider’s stock valued at $11,625,000 after buying an additional 1,045 shares during the period. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Evercore ISI lowered their price target on CDW from $215.00 to $200.00 and set an “outperform” rating for the company in a research report on Monday, October 20th. UBS Group reduced their price objective on CDW from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of CDW in a research report on Thursday, October 30th. Raymond James Financial raised shares of CDW from an “outperform” rating to a “strong-buy” rating and set a $185.00 price objective for the company in a research report on Tuesday, November 25th. Finally, Morgan Stanley cut their target price on shares of CDW from $191.00 to $177.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $186.43.

CDW Price Performance

CDW stock opened at $129.54 on Thursday. The stock’s 50 day moving average is $142.68 and its two-hundred day moving average is $158.56. CDW Corporation has a 52-week low of $128.78 and a 52-week high of $222.92. The company has a market capitalization of $16.87 billion, a PE ratio of 16.36, a P/E/G ratio of 1.75 and a beta of 1.08. The company has a quick ratio of 1.30, a current ratio of 1.39 and a debt-to-equity ratio of 2.21.

CDW (NASDAQ:CDW) last released its earnings results on Tuesday, November 4th. The information technology services provider reported $2.71 EPS for the quarter, beating the consensus estimate of $2.62 by $0.09. The company had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.75 billion. CDW had a return on equity of 51.89% and a net margin of 4.76%. Analysts predict that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 25th were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Tuesday, November 25th. This represents a $2.52 annualized dividend and a yield of 1.9%. This is an increase from CDW’s previous quarterly dividend of $0.63. CDW’s dividend payout ratio (DPR) is 31.82%.

Insider Activity at CDW

In related news, insider Sona Chawla sold 7,400 shares of CDW stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $146.17, for a total value of $1,081,658.00. Following the completion of the transaction, the insider directly owned 28,110 shares in the company, valued at approximately $4,108,838.70. This trade represents a 20.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.84% of the company’s stock.

CDW Company Profile

CDW (NASDAQ: CDW) is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.

CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.