Bank of New York Mellon Corp decreased its holdings in shares of CDW Co. (NASDAQ:CDW) by 1.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 1,143,442 shares of the information technology services provider’s stock after selling 17,308 shares during the period. Bank of New York Mellon Corp’s holdings in CDW were worth $189,527,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new stake in CDW during the 1st quarter worth $25,000. First Horizon Advisors Inc. boosted its holdings in shares of CDW by 43.6% during the 4th quarter. First Horizon Advisors Inc. now owns 234 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 71 shares in the last quarter. RMR Wealth Builders acquired a new stake in shares of CDW during the 4th quarter valued at $32,000. CX Institutional boosted its holdings in shares of CDW by 103.7% during the 1st quarter. CX Institutional now owns 328 shares of the information technology services provider’s stock valued at $54,000 after acquiring an additional 167 shares in the last quarter. Finally, Berman Capital Advisors LLC raised its position in CDW by 146.4% during the 4th quarter. Berman Capital Advisors LLC now owns 340 shares of the information technology services provider’s stock worth $44,000 after purchasing an additional 202 shares during the last quarter. 91.02% of the stock is owned by institutional investors and hedge funds.
Shares of CDW opened at $171.14 on Wednesday. The company’s 50-day moving average is $171.99. The company has a market cap of $23.99 billion, a price-to-earnings ratio of 28.91, a price-to-earnings-growth ratio of 1.82 and a beta of 1.11. The company has a debt-to-equity ratio of 3.34, a current ratio of 1.47 and a quick ratio of 1.27. CDW Co. has a 1-year low of $105.87 and a 1-year high of $184.58.
CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, May 5th. The information technology services provider reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.25. The company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.58 billion. CDW had a net margin of 4.51% and a return on equity of 83.86%. CDW’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the company posted $1.38 EPS. As a group, sell-side analysts expect that CDW Co. will post 7.07 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 10th. Shareholders of record on Tuesday, May 25th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, May 24th. This represents a $1.60 dividend on an annualized basis and a yield of 0.93%. CDW’s dividend payout ratio is currently 24.43%.
A number of analysts have weighed in on the company. Zacks Investment Research downgraded CDW from a “buy” rating to a “hold” rating and set a $172.00 price target for the company. in a report on Thursday, May 13th. Citigroup increased their price objective on shares of CDW from $175.00 to $210.00 in a research report on Thursday, May 6th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price objective on shares of CDW from $175.00 to $210.00 in a report on Thursday, May 6th. Morgan Stanley lifted their price objective on shares of CDW from $188.00 to $190.00 and gave the stock an “overweight” rating in a report on Wednesday, April 14th. Finally, Credit Suisse Group lifted their target price on CDW from $175.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, May 6th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. CDW has a consensus rating of “Buy” and a consensus price target of $181.00.
In other news, insider Christina M. Corley sold 3,989 shares of the firm’s stock in a transaction dated Wednesday, May 19th. The shares were sold at an average price of $164.92, for a total transaction of $657,865.88. Following the sale, the insider now owns 44,724 shares of the company’s stock, valued at approximately $7,375,882.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Donna F. Zarcone sold 7,006 shares of the firm’s stock in a transaction dated Wednesday, June 2nd. The shares were sold at an average price of $165.40, for a total transaction of $1,158,792.40. Over the last 90 days, insiders have sold 17,895 shares of company stock valued at $3,036,234. 1.04% of the stock is owned by company insiders.
About CDW
CDW Corporation provides integrated information technology (IT) solutions to business, government, education, and healthcare customers in the United States, the United Kingdom, and Canada. 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 on-premise, hybrid and cloud capabilities across data center and networking, digital workspace, security, and virtualization.
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