Synovus Financial Corp Raises Stake in CDW (CDW)

Synovus Financial Corp lifted its holdings in shares of CDW (NASDAQ:CDW) by 62.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,470 shares of the information technology services provider’s stock after purchasing an additional 563 shares during the quarter. Synovus Financial Corp’s holdings in CDW were worth $131,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank of Hawaii acquired a new stake in shares of CDW during the second quarter worth about $209,000. Alta Capital Management LLC acquired a new stake in shares of CDW during the third quarter worth about $232,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of CDW during the second quarter worth about $224,000. Moneta Group Investment Advisors LLC lifted its position in shares of CDW by 107.0% during the second quarter. Moneta Group Investment Advisors LLC now owns 3,084 shares of the information technology services provider’s stock worth $249,000 after purchasing an additional 1,594 shares in the last quarter. Finally, Sawtooth Solutions LLC acquired a new stake in shares of CDW during the third quarter worth about $322,000. 89.40% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have recently issued reports on the stock. ValuEngine raised shares of CDW from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. BidaskClub cut shares of CDW from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 25th. Raymond James raised shares of CDW from an “underperform” rating to a “market perform” rating in a research report on Wednesday, July 18th. Zacks Investment Research raised shares of CDW from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a report on Tuesday, October 23rd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $92.00 target price on shares of CDW in a report on Monday, July 23rd. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $88.63.

In other CDW news, insider Thomas E. Richards sold 17,143 shares of the stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $86.15, for a total value of $1,476,869.45. Following the transaction, the insider now directly owns 617,218 shares in the company, valued at $53,173,330.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christina V. Rother sold 4,000 shares of the stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $87.63, for a total transaction of $350,520.00. Following the completion of the transaction, the insider now owns 110,231 shares in the company, valued at $9,659,542.53. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,307 shares of company stock worth $7,698,465. 2.60% of the stock is owned by corporate insiders.

Shares of NASDAQ:CDW opened at $91.08 on Friday. The company has a market capitalization of $13.53 billion, a P/E ratio of 23.47 and a beta of 1.02. CDW has a fifty-two week low of $65.59 and a fifty-two week high of $92.18. The company has a debt-to-equity ratio of 2.75, a quick ratio of 1.24 and a current ratio of 1.41.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, October 31st. The information technology services provider reported $1.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.08. The firm had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $4.24 billion. CDW had a net margin of 4.24% and a return on equity of 70.39%. The firm’s revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.08 earnings per share. As a group, analysts predict that CDW will post 4.88 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Monday, November 26th will be issued a $0.295 dividend. This is a boost from CDW’s previous quarterly dividend of $0.21. The ex-dividend date is Friday, November 23rd. This represents a $1.18 annualized dividend and a yield of 1.30%. CDW’s dividend payout ratio (DPR) is 21.65%.

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CDW Company Profile

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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Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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