Massey Quick Simon & CO. LLC bought a new stake in shares of CDW Corporation (NASDAQ:CDW) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,895 shares of the information technology services provider’s stock, valued at approximately $257,000.
Several other large investors also recently bought and sold shares of the company. Toronto Dominion Bank grew its holdings in shares of CDW Corporation by 236.2% during the third quarter. Toronto Dominion Bank now owns 6,634 shares of the information technology services provider’s stock valued at $438,000 after purchasing an additional 4,661 shares during the last quarter. Lingohr & Partner Asset Management GmbH bought a new position in shares of CDW Corporation during the third quarter valued at approximately $683,000. Lloyds Banking Group plc bought a new position in shares of CDW Corporation during the third quarter valued at approximately $108,000. Jaffetilchin Investment Partners LLC grew its holdings in shares of CDW Corporation by 7.9% during the third quarter. Jaffetilchin Investment Partners LLC now owns 12,538 shares of the information technology services provider’s stock valued at $828,000 after purchasing an additional 921 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund bought a new position in shares of CDW Corporation during the third quarter valued at approximately $2,144,000. 91.25% of the stock is owned by institutional investors.
Several research firms have recently commented on CDW. BidaskClub raised CDW Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 7th. Barclays PLC reaffirmed a “hold” rating and set a $69.00 target price on shares of CDW Corporation in a report on Sunday, November 5th. Robert W. Baird reissued a “buy” rating and issued a $75.00 price objective on shares of CDW Corporation in a report on Wednesday, November 1st. Morgan Stanley increased their price objective on CDW Corporation from $58.00 to $63.00 and gave the stock an “equal weight” rating in a report on Thursday, November 2nd. Finally, Zacks Investment Research raised CDW Corporation from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $67.85.
Shares of CDW Corporation (NASDAQ:CDW) traded up $0.48 during mid-day trading on Tuesday, reaching $67.74. The company had a trading volume of 834,900 shares, compared to its average volume of 816,675. The company has a debt-to-equity ratio of 4.20, a current ratio of 1.37 and a quick ratio of 1.15. The company has a market cap of $10,295.00, a price-to-earnings ratio of 19.00 and a beta of 1.08. CDW Corporation has a 1-year low of $46.72 and a 1-year high of $71.53.
CDW Corporation (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, November 1st. The information technology services provider reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.06. The firm had revenue of $4.03 billion during the quarter, compared to analyst estimates of $3.99 billion. CDW Corporation had a return on equity of 62.71% and a net margin of 2.90%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the company posted $0.97 EPS. sell-side analysts forecast that CDW Corporation will post 3.64 EPS for the current fiscal year.
CDW Corporation declared that its Board of Directors has initiated a share repurchase plan on Thursday, August 3rd that permits the company to buyback $750.00 million in shares. This buyback authorization permits the information technology services provider to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 24th will be paid a dividend of $0.21 per share. This is a positive change from CDW Corporation’s previous quarterly dividend of $0.16. This represents a $0.84 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Wednesday, November 22nd. CDW Corporation’s dividend payout ratio (DPR) is presently 23.70%.
In other CDW Corporation news, insider Jonathan J. Stevens sold 6,700 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $61.78, for a total transaction of $413,926.00. Following the completion of the transaction, the insider now directly owns 86,366 shares of the company’s stock, valued at approximately $5,335,691.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Christina M. Corley sold 4,000 shares of the stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $68.08, for a total value of $272,320.00. Following the transaction, the insider now directly owns 47,843 shares of the company’s stock, valued at $3,257,151.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 124,711 shares of company stock valued at $8,213,280. 2.60% of the stock is currently owned by corporate insiders.
CDW Corporation 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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