DNB Asset Management AS reduced its stake in CDW (NASDAQ:CDW) by 30.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,758 shares of the information technology services provider’s stock after selling 12,274 shares during the period. DNB Asset Management AS’s holdings in CDW were worth $3,421,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sterling Investment Advisors Ltd. bought a new position in CDW in the third quarter valued at about $123,000. Camelot Portfolios LLC raised its stake in shares of CDW by 16.9% in the third quarter. Camelot Portfolios LLC now owns 4,236 shares of the information technology services provider’s stock worth $522,000 after buying an additional 611 shares during the period. Raub Brock Capital Management LP raised its stake in shares of CDW by 1.5% in the third quarter. Raub Brock Capital Management LP now owns 195,582 shares of the information technology services provider’s stock worth $24,104,000 after buying an additional 2,974 shares during the period. Jaffetilchin Investment Partners LLC raised its stake in shares of CDW by 13.3% in the third quarter. Jaffetilchin Investment Partners LLC now owns 2,853 shares of the information technology services provider’s stock worth $352,000 after buying an additional 336 shares during the period. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO grew its position in shares of CDW by 15.9% during the third quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 12,177 shares of the information technology services provider’s stock worth $1,501,000 after purchasing an additional 1,666 shares in the last quarter. 91.71% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Thomas E. Richards sold 58,333 shares of CDW 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 completion of the transaction, the insider now directly owns 636,109 shares in the company, valued at approximately $71,352,346.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert F. Kirby sold 1,300 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $109.90, for a total value of $142,870.00. The disclosure for this sale can be found here. Insiders sold a total of 187,755 shares of company stock worth $21,978,265 in the last ninety days. 2.25% of the stock is owned by corporate insiders.
Several analysts recently issued reports on CDW shares. Bank of America started coverage on CDW in a research report on Tuesday, July 30th. They set a “buy” rating and a $140.00 target price for the company. Morgan Stanley set a $126.00 price target on CDW and gave the company a “hold” rating in a report on Friday, November 1st. ValuEngine cut CDW from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. BidaskClub raised CDW from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 2nd. Finally, Credit Suisse Group lifted their target price on CDW from $118.00 to $132.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $120.63.
CDW stock traded up $0.59 on Friday, hitting $133.52. 725,800 shares of the company’s stock were exchanged, compared to its average volume of 1,011,129. The company has a debt-to-equity ratio of 3.57, a quick ratio of 1.14 and a current ratio of 1.33. CDW has a 12-month low of $74.32 and a 12-month high of $136.31. The firm has a 50 day moving average price of $124.55 and a two-hundred day moving average price of $113.61. The stock has a market cap of $19.51 billion, a P/E ratio of 26.18, a price-to-earnings-growth ratio of 1.81 and a beta of 1.10.
CDW (NASDAQ:CDW) last released its quarterly earnings results on Thursday, October 31st. The information technology services provider reported $1.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.58 by $0.12. CDW had a return on equity of 91.07% and a net margin of 4.04%. The firm had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter last year, the company posted $1.42 earnings per share. The business’s revenue was up 12.2% on a year-over-year basis. Sell-side analysts expect that CDW will post 5.73 earnings per share for the current fiscal year.
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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