Commonwealth Bank of Australia Trims Stake in CDW (CDW)

Commonwealth Bank of Australia cut its position in CDW (NASDAQ:CDW) by 1.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 15,788 shares of the information technology services provider’s stock after selling 188 shares during the quarter. Commonwealth Bank of Australia’s holdings in CDW were worth $1,274,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC boosted its stake in CDW by 16.9% during the 3rd quarter. AQR Capital Management LLC now owns 2,143,983 shares of the information technology services provider’s stock valued at $190,643,000 after purchasing an additional 310,352 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in CDW by 9.4% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 1,789,055 shares of the information technology services provider’s stock valued at $159,083,000 after purchasing an additional 154,146 shares during the last quarter. Select Equity Group L.P. boosted its stake in CDW by 119.4% during the 3rd quarter. Select Equity Group L.P. now owns 1,687,683 shares of the information technology services provider’s stock valued at $150,069,000 after purchasing an additional 918,485 shares during the last quarter. Janus Henderson Group PLC boosted its stake in CDW by 12.3% during 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 purchasing an additional 130,139 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in CDW by 28.0% during the 4th quarter. Northern Trust Corp now owns 1,152,947 shares of the information technology services provider’s stock valued at $93,447,000 after purchasing an additional 252,256 shares during the last quarter. Institutional investors own 89.10% of the company’s stock.

CDW stock opened at $96.62 on Friday. CDW has a 52 week low of $67.44 and a 52 week high of $97.40. The company has a current ratio of 1.35, a quick ratio of 1.19 and a debt-to-equity ratio of 3.26. The company has a market cap of $14.12 billion, a price-to-earnings ratio of 18.95 and a beta of 1.05.

CDW (NASDAQ:CDW) last posted its earnings results on Thursday, February 7th. The information technology services provider reported $1.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.11. CDW had a net margin of 3.96% and a return on equity of 74.63%. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter last year, the firm earned $0.99 EPS. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts expect that CDW will post 5.43 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 25th were given a dividend of $0.295 per share. The ex-dividend date of this dividend was Friday, February 22nd. This represents a $1.18 annualized dividend and a dividend yield of 1.22%. CDW’s dividend payout ratio is currently 23.14%.

A number of research firms have issued reports on CDW. BidaskClub upgraded CDW from a “hold” rating to a “buy” rating in a research note on Thursday, February 14th. ValuEngine cut shares of CDW from a “buy” rating to a “hold” rating in a research report on Tuesday, December 11th. Finally, Zacks Investment Research cut shares of CDW from a “buy” rating to a “hold” rating in a research report on Tuesday, January 1st. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. CDW presently has a consensus rating of “Buy” and a consensus price target of $93.20.

In related news, insider Christina V. Rother sold 4,000 shares of CDW stock in a transaction that occurred on Thursday, January 10th. The shares were sold at an average price of $80.65, for a total value of $322,600.00. Following the sale, the insider now owns 51,077 shares of the company’s stock, valued at approximately $4,119,360.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christina M. Corley sold 3,567 shares of CDW stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $96.70, for a total transaction of $344,928.90. Following the completion of the sale, the insider now directly owns 643,052 shares in the company, valued at approximately $62,183,128.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 105,577 shares of company stock worth $9,384,699. Insiders own 2.60% of the company’s stock.

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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.

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Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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