Price Capital Management Inc. acquired a new stake in CDW Corp (NASDAQ:CDW) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 3,400 shares of the information technology services provider’s stock, valued at approximately $236,000.
Other large investors also recently made changes to their positions in the company. Lloyds Banking Group plc purchased a new stake in shares of CDW during the 3rd quarter valued at about $108,000. Toronto Dominion Bank raised its holdings in shares of CDW by 24.8% during the 2nd quarter. Toronto Dominion Bank now owns 1,973 shares of the information technology services provider’s stock valued at $123,000 after buying an additional 392 shares during the period. Cerebellum GP LLC purchased a new stake in shares of CDW during the 4th quarter valued at about $128,000. SG Americas Securities LLC purchased a new stake in shares of CDW during the 4th quarter valued at about $184,000. Finally, Massey Quick Simon & CO. LLC purchased a new stake in shares of CDW during the 3rd quarter valued at about $257,000. Institutional investors and hedge funds own 90.77% of the company’s stock.
In other news, insider Jonathan J. Stevens sold 6,700 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $69.30, for a total value of $464,310.00. Following the completion of the sale, the insider now directly owns 74,366 shares in the company, valued at approximately $5,153,563.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas E. Richards sold 15,207 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $66.25, for a total value of $1,007,463.75. The disclosure for this sale can be found here. Insiders have sold a total of 64,396 shares of company stock worth $4,477,782 over the last 90 days. 2.60% of the stock is owned by company insiders.
CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.05. CDW had a return on equity of 68.41% and a net margin of 3.44%. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.85 billion. During the same period in the previous year, the business earned $0.86 EPS. CDW’s revenue for the quarter was up 9.9% compared to the same quarter last year. equities analysts anticipate that CDW Corp will post 4.23 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Monday, February 26th will be issued a dividend of $0.21 per share. The ex-dividend date is Friday, February 23rd. This represents a $0.84 annualized dividend and a yield of 1.21%. CDW’s dividend payout ratio is presently 25.23%.
CDW has been the topic of several analyst reports. Barclays reiterated a “hold” rating and set a $69.00 target price on shares of CDW in a report on Sunday, November 5th. Raymond James Financial downgraded CDW from a “market perform” rating to an “underperform” rating in a report on Friday, October 13th. Royal Bank of Canada restated a “buy” rating and set a $80.00 price objective on shares of CDW in a report on Monday, January 15th. Zacks Investment Research downgraded CDW from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Finally, Morgan Stanley lifted their price objective on CDW from $58.00 to $63.00 and gave the stock an “equal weight” rating in a report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. CDW presently has an average rating of “Buy” and an average target price of $72.00.
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CDW Company 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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