Riverhead Capital Management LLC trimmed its holdings in CDW (NASDAQ:CDW) by 26.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,249 shares of the information technology services provider’s stock after selling 2,605 shares during the quarter. Riverhead Capital Management LLC’s holdings in CDW were worth $805,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in the company. Renaissance Technologies LLC raised its holdings in CDW by 36.5% in the 2nd quarter. Renaissance Technologies LLC now owns 497,498 shares of the information technology services provider’s stock valued at $55,222,000 after acquiring an additional 133,000 shares in the last quarter. Clear Perspective Advisors LLC bought a new stake in shares of CDW during the second quarter valued at approximately $61,000. First Allied Advisory Services Inc. increased its position in shares of CDW by 9.7% during the second quarter. First Allied Advisory Services Inc. now owns 2,501 shares of the information technology services provider’s stock valued at $278,000 after purchasing an additional 221 shares during the period. Bahl & Gaynor Inc. raised its stake in shares of CDW by 9.0% in the second quarter. Bahl & Gaynor Inc. now owns 624,024 shares of the information technology services provider’s stock valued at $69,267,000 after purchasing an additional 51,574 shares in the last quarter. Finally, Capital Fund Management S.A. raised its stake in shares of CDW by 31.6% in the second quarter. Capital Fund Management S.A. now owns 122,892 shares of the information technology services provider’s stock valued at $13,641,000 after purchasing an additional 29,530 shares in the last quarter. Institutional investors and hedge funds own 91.71% of the company’s stock.
CDW stock traded up $0.48 during trading on Wednesday, hitting $111.98. The company had a trading volume of 152,058 shares, compared to its average volume of 600,700. The company has a fifty day moving average price of $114.18 and a two-hundred day moving average price of $106.40. CDW has a fifty-two week low of $74.32 and a fifty-two week high of $120.82. The company has a market cap of $17.01 billion, a P/E ratio of 21.96, a P/E/G ratio of 1.60 and a beta of 1.10. The company has a current ratio of 1.28, a quick ratio of 1.09 and a debt-to-equity ratio of 3.57.
CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $1.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.10. CDW had a return on equity of 82.78% and a net margin of 4.07%. The company had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.50 billion. During the same period last year, the business earned $1.38 earnings per share. The business’s revenue was up 10.6% on a year-over-year basis. On average, analysts expect that CDW will post 5.62 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were given a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Friday, August 23rd. CDW’s dividend payout ratio (DPR) is currently 23.14%.
A number of research firms have weighed in on CDW. Evercore ISI began coverage on shares of CDW in a research note on Wednesday, June 5th. They set an “outperform” rating and a $120.00 price target on the stock. 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 report on Monday, August 5th. They noted that the move was a valuation call. ValuEngine downgraded shares of CDW from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Deutsche Bank initiated coverage on shares of CDW in a research report on Tuesday, June 11th. They set a “buy” rating and a $113.00 target price on the stock. Finally, Credit Suisse Group upped their target price on shares of CDW from $118.00 to $132.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. CDW presently has an average rating of “Buy” and an average target price of $118.13.
In related news, insider Thomas E. Richards sold 62,222 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $113.66, for a total transaction of $7,072,152.52. Following the completion of the sale, the insider now directly owns 639,998 shares of the company’s stock, valued at approximately $72,742,172.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas E. Richards sold 66,667 shares of CDW stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $105.31, for a total value of $7,020,701.77. Following the completion of the transaction, the insider now owns 644,443 shares of the company’s stock, valued at approximately $67,866,292.33. The disclosure for this sale can be found here. Insiders have sold a total of 137,707 shares of company stock valued at $15,077,025 in the last quarter. 2.25% of the stock is currently owned by corporate insiders.
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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