CDW (NASDAQ:CDW) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp trimmed its stake in shares of CDW (NASDAQ:CDW) by 14.0% in the 1st quarter, HoldingsChannel reports. The fund owned 88,258 shares of the information technology services provider’s stock after selling 14,413 shares during the period. Fifth Third Bancorp’s holdings in CDW were worth $8,505,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Commonwealth Bank of Australia lifted its holdings in CDW by 0.6% during the 1st quarter. Commonwealth Bank of Australia now owns 15,888 shares of the information technology services provider’s stock valued at $1,526,000 after buying an additional 100 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in CDW by 3.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 4,903 shares of the information technology services provider’s stock valued at $397,000 after buying an additional 143 shares in the last quarter. First Hawaiian Bank lifted its holdings in CDW by 0.8% during the 1st quarter. First Hawaiian Bank now owns 19,642 shares of the information technology services provider’s stock valued at $1,893,000 after buying an additional 158 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in CDW by 4.7% during the 4th quarter. Mackenzie Financial Corp now owns 3,619 shares of the information technology services provider’s stock valued at $293,000 after buying an additional 164 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in CDW by 0.8% during the 1st quarter. Principal Financial Group Inc. now owns 22,376 shares of the information technology services provider’s stock valued at $2,156,000 after buying an additional 173 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

NASDAQ CDW opened at $104.24 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.10 and a debt-to-equity ratio of 3.61. The stock has a market cap of $15.22 billion, a price-to-earnings ratio of 20.44 and a beta of 1.08. CDW has a one year low of $74.32 and a one year high of $111.59.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, May 1st. The information technology services provider reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.13. The business had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.77 billion. CDW had a net margin of 4.03% and a return on equity of 77.94%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.05 EPS. On average, equities research analysts expect that CDW will post 5.55 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th were given a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Thursday, May 23rd. CDW’s dividend payout ratio (DPR) is 23.14%.

In other news, insider Collin B. Kebo sold 3,600 shares of CDW stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $106.28, for a total value of $382,608.00. Following the transaction, the insider now owns 22,352 shares of the company’s stock, valued at approximately $2,375,570.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Thomas E. Richards sold 16,636 shares of CDW stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $105.32, for a total transaction of $1,752,103.52. Following the completion of the transaction, the insider now directly owns 643,899 shares in the company, valued at approximately $67,815,442.68. The disclosure for this sale can be found here. Insiders have sold a total of 88,203 shares of company stock worth $8,913,129 in the last three months. Insiders own 2.25% of the company’s stock.

A number of equities research analysts recently weighed in on CDW shares. Deutsche Bank started coverage on shares of CDW in a report on Tuesday, June 11th. They set a “buy” rating and a $113.00 price objective for the company. BidaskClub lowered shares of CDW from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 23rd. Stifel Nicolaus downgraded shares of CDW from a “buy” rating to a “hold” rating and raised their target price for the company from $100.00 to $105.00 in a research report on Wednesday, April 17th. Northcoast Research downgraded shares of CDW from a “buy” rating to a “neutral” rating in a research report on Friday, April 26th. They noted that the move was a valuation call. Finally, Credit Suisse Group assumed coverage on shares of CDW in a research report on Thursday, April 11th. They set an “outperform” rating and a $117.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $107.75.

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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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