Westpac Banking Corp Has $3.53 Million Holdings in CDW (CDW)

Westpac Banking Corp boosted its position in shares of CDW (NASDAQ:CDW) by 225.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,698 shares of the information technology services provider’s stock after acquiring an additional 27,508 shares during the period. Westpac Banking Corp’s holdings in CDW were worth $3,530,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Prudential Financial Inc. boosted its holdings in shares of CDW by 99.3% in the 3rd quarter. Prudential Financial Inc. now owns 421,629 shares of the information technology services provider’s stock valued at $37,491,000 after buying an additional 210,100 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of CDW by 8.5% in the 3rd quarter. American Century Companies Inc. now owns 2,401,828 shares of the information technology services provider’s stock valued at $213,571,000 after buying an additional 187,467 shares in the last quarter. Rothschild & Co. Asset Management US Inc. acquired a new position in shares of CDW in the 3rd quarter valued at $16,017,000. NN Investment Partners Holdings N.V. boosted its holdings in shares of CDW by 4,571.3% in the 3rd quarter. NN Investment Partners Holdings N.V. now owns 136,682 shares of the information technology services provider’s stock valued at $12,154,000 after buying an additional 133,756 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of CDW by 12.3% in the 3rd quarter. Janus Henderson Group PLC now owns 1,185,990 shares of the information technology services provider’s stock valued at $105,474,000 after buying an additional 130,139 shares in the last quarter. Institutional investors own 89.88% of the company’s stock.

Several brokerages have recently issued reports on CDW. ValuEngine upgraded shares of CDW from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Zacks Investment Research upgraded shares of CDW from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a report on Tuesday, October 23rd. Finally, BidaskClub downgraded shares of CDW from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $88.63.

CDW stock opened at $92.68 on Friday. CDW has a 12 month low of $66.88 and a 12 month high of $93.92. The firm has a market capitalization of $13.90 billion, a P/E ratio of 23.89 and a beta of 1.02. The company has a quick ratio of 1.24, a current ratio of 1.41 and a debt-to-equity ratio of 2.75.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, October 31st. The information technology services provider reported $1.42 EPS for the quarter, beating the consensus estimate of $1.34 by $0.08. CDW had a net margin of 4.24% and a return on equity of 70.39%. The firm had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the prior year, the firm earned $1.08 EPS. CDW’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, equities research analysts forecast that CDW will post 4.88 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Monday, November 26th will be given a $0.295 dividend. This is an increase 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 1.27%. CDW’s dividend payout ratio is 30.41%.

In other CDW news, insider Thomas E. Richards sold 18,182 shares of the company’s stock in a transaction on Thursday, October 11th. The shares were sold at an average price of $81.48, for a total transaction of $1,481,469.36. Following the completion of the transaction, the insider now owns 51,077 shares in the company, valued at approximately $4,161,753.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Thomas E. Richards sold 16,667 shares of the company’s stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $88.92, for a total transaction of $1,482,029.64. Following the transaction, the insider now owns 616,742 shares of the company’s stock, valued at approximately $54,840,698.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,252 shares of company stock valued at $7,918,866. 2.60% of the stock is owned by insiders.

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CDW 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.

See Also: Cost of Equity For A Business, Investors

Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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