Pensionfund Sabic lowered its position in shares of CDW (NASDAQ:CDW) by 7.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,725 shares of the information technology services provider’s stock after selling 1,275 shares during the quarter. Pensionfund Sabic’s holdings in CDW were worth $1,856,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the business. Norges Bank bought a new position in shares of CDW during the fourth quarter valued at $117,816,000. AQR Capital Management LLC increased its holdings in shares of CDW by 65.6% during the first quarter. AQR Capital Management LLC now owns 3,418,230 shares of the information technology services provider’s stock valued at $328,150,000 after acquiring an additional 1,354,651 shares in the last quarter. Millennium Management LLC increased its holdings in shares of CDW by 398.5% during the fourth quarter. Millennium Management LLC now owns 643,285 shares of the information technology services provider’s stock valued at $52,138,000 after acquiring an additional 514,231 shares in the last quarter. Wedge Capital Management L L P NC bought a new position in shares of CDW during the first quarter valued at $43,686,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of CDW by 208.7% during the first quarter. The Manufacturers Life Insurance Company now owns 529,600 shares of the information technology services provider’s stock valued at $51,038,000 after acquiring an additional 358,029 shares in the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently commented on the company. Credit Suisse Group lifted their price objective on Delta Air Lines from $37.00 to $68.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Northcoast Research reaffirmed a “buy” rating on shares of MarineMax in a research report on Friday, April 26th. BidaskClub raised Zillow Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 2nd. Stifel Nicolaus set a $80.00 price target on CSX and gave the stock a “hold” rating in a report on Wednesday, April 17th. Finally, Evercore ISI began coverage on Sensata Technologies in a report on Wednesday, June 5th. They issued an “in-line” rating and a $50.00 price target on the stock. Three investment 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 company’s stock. CDW presently has a consensus rating of “Buy” and a consensus target price of $109.86.
NASDAQ:CDW traded up $1.35 during trading hours on Tuesday, reaching $113.66. The stock had a trading volume of 494,914 shares, compared to its average volume of 788,286. The company has a debt-to-equity ratio of 3.61, a current ratio of 1.29 and a quick ratio of 1.10. CDW has a 52 week low of $74.32 and a 52 week high of $116.47. The company’s 50 day moving average price is $109.38. The company has a market capitalization of $16.60 billion, a PE ratio of 22.29 and a beta of 1.11.
CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, May 1st. The information technology services provider reported $1.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.13. CDW had a return on equity of 77.94% and a net margin of 4.03%. The business had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the previous year, the company posted $1.05 EPS. The company’s revenue was up 9.8% compared to the same quarter last year. Sell-side analysts anticipate that CDW will post 5.54 EPS for the current fiscal year.
In other news, insider Robert F. Kirby sold 1,300 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $116.22, for a total transaction of $151,086.00. Following the transaction, the insider now owns 35,070 shares of the company’s stock, valued at approximately $4,075,835.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Thomas E. Richards sold 66,667 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $99.67, for a total value of $6,644,699.89. Following the transaction, the insider now directly owns 644,443 shares in the company, valued at approximately $64,231,633.81. The disclosure for this sale can be found here. In the last ninety days, insiders sold 139,534 shares of company stock worth $14,332,814. Corporate insiders own 2.25% of the company’s stock.
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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