Hexagon Capital Partners LLC grew its holdings in shares of CDW Co. (NASDAQ:CDW) by 5,833.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 890 shares of the information technology services provider’s stock after buying an additional 875 shares during the quarter. Hexagon Capital Partners LLC’s holdings in CDW were worth $147,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new position in CDW in the 4th quarter valued at about $205,404,000. Mawer Investment Management Ltd. lifted its holdings in shares of CDW by 45.9% during the 4th quarter. Mawer Investment Management Ltd. now owns 2,847,959 shares of the information technology services provider’s stock worth $375,333,000 after acquiring an additional 895,959 shares during the period. BlackRock Inc. lifted its holdings in shares of CDW by 8.9% during the 1st quarter. BlackRock Inc. now owns 10,554,241 shares of the information technology services provider’s stock worth $1,749,365,000 after acquiring an additional 859,294 shares during the period. Select Equity Group L.P. lifted its stake in CDW by 8.2% in the 4th quarter. Select Equity Group L.P. now owns 7,460,355 shares of the information technology services provider’s stock valued at $983,200,000 after purchasing an additional 565,290 shares during the last quarter. Finally, Artisan Partners Limited Partnership bought a new position in CDW in the 1st quarter valued at approximately $63,875,000. 91.02% of the stock is currently owned by institutional investors.
CDW opened at $171.14 on Wednesday. CDW Co. has a twelve month low of $105.87 and a twelve month high of $184.58. The company has a debt-to-equity ratio of 3.34, a quick ratio of 1.27 and a current ratio of 1.47. The business’s fifty day moving average price is $171.99. The firm has a market capitalization of $23.99 billion, a PE ratio of 28.91, a PEG ratio of 1.82 and a beta of 1.11.
CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, May 5th. The information technology services provider reported $1.74 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.25. The business 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%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the company posted $1.38 earnings per share. On average, equities research analysts anticipate that CDW Co. will post 7.07 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 10th. Investors of record on Tuesday, May 25th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend was Monday, May 24th. CDW’s payout ratio is currently 24.43%.
Several brokerages recently commented on CDW. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price objective on shares of CDW from $175.00 to $210.00 in a research note on Thursday, May 6th. Citigroup increased their price objective on shares of CDW from $175.00 to $210.00 in a research note on Thursday, May 6th. Credit Suisse Group increased their price objective on shares of CDW from $175.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, May 6th. Zacks Investment Research downgraded shares of CDW from a “buy” rating to a “hold” rating and set a $172.00 price target for the company. in a research note on Thursday, May 13th. Finally, Morgan Stanley raised their price target on shares of CDW from $188.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, April 14th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $181.00.
In related news, Director Donna F. Zarcone sold 7,006 shares of the 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. Also, insider Christina M. Corley sold 3,400 shares of the stock in a transaction dated Friday, June 18th. The shares were sold at an average price of $168.69, for a total transaction of $573,546.00. Following the sale, the insider now directly owns 44,135 shares in the company, valued at $7,445,133.15. The disclosure for this sale can be found here. Insiders have sold 17,895 shares of company stock worth $3,036,234 over the last three months. 1.04% of the stock is owned by 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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