Nicholas Company Inc. decreased its position in CDW Corporation (NASDAQ:CDW) by 0.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 191,935 shares of the information technology services provider’s stock after selling 85 shares during the period. Nicholas Company Inc. owned about 0.12% of CDW Corporation worth $12,001,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of CDW. ProShare Advisors LLC acquired a new position in CDW Corporation in the 1st quarter valued at approximately $232,000. Russell Investments Group Ltd. raised its holdings in CDW Corporation by 49.5% in the 1st quarter. Russell Investments Group Ltd. now owns 16,184 shares of the information technology services provider’s stock valued at $935,000 after acquiring an additional 5,357 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in CDW Corporation by 4.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 46,623 shares of the information technology services provider’s stock valued at $2,688,000 after acquiring an additional 2,072 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in CDW Corporation by 5.9% in the 1st quarter. Bank of New York Mellon Corp now owns 779,388 shares of the information technology services provider’s stock valued at $44,979,000 after acquiring an additional 43,259 shares in the last quarter. Finally, Comerica Bank raised its holdings in CDW Corporation by 2.8% in the 1st quarter. Comerica Bank now owns 25,716 shares of the information technology services provider’s stock valued at $1,539,000 after acquiring an additional 702 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.
CDW Corporation (NASDAQ CDW) traded up 0.36% during midday trading on Friday, reaching $61.89. The company had a trading volume of 1,979,567 shares. The stock’s 50 day moving average is $61.79 and its 200 day moving average is $60.58. The company has a market capitalization of $9.58 billion, a PE ratio of 23.50 and a beta of 1.08. CDW Corporation has a one year low of $43.64 and a one year high of $66.33.
CDW Corporation (NASDAQ:CDW) last announced its quarterly earnings data on Thursday, August 3rd. The information technology services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.05. The business had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.84 billion. CDW Corporation had a net margin of 2.95% and a return on equity of 58.89%. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the firm posted $0.93 earnings per share. Equities research analysts forecast that CDW Corporation will post $3.83 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 25th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.03%. CDW Corporation’s payout ratio is presently 24.33%.
CDW Corporation announced that its board has authorized a share repurchase program on Thursday, August 3rd that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
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Several research firms have commented on CDW. BidaskClub cut CDW Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 29th. Zacks Investment Research lowered CDW Corporation from a “hold” rating to a “strong sell” rating in a research note on Friday, July 28th. Robert W. Baird set a $71.00 price objective on CDW Corporation and gave the company a “buy” rating in a research note on Thursday, August 3rd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $71.00 price objective (up from $70.00) on shares of CDW Corporation in a research note on Wednesday, August 9th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $66.39.
In other CDW Corporation news, insider Thomas E. Richards sold 16,861 shares of the business’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $58.73, for a total transaction of $990,246.53. Following the sale, the insider now owns 714,931 shares of the company’s stock, valued at $41,987,897.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christine A. Leahy sold 12,000 shares of the business’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $60.26, for a total transaction of $723,120.00. Following the sale, the insider now directly owns 162,130 shares in the company, valued at approximately $9,769,953.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 120,171 shares of company stock worth $7,440,974. Insiders own 2.60% of the company’s stock.
About CDW Corporation
CDW Corporation (CDW) is a provider of integrated information technology (IT) solutions in the United States, Canada and the United Kingdom. The Company’s segments include Corporate, Public and Other. The Corporate segment consists of private sector business customers in the United States based on employee size between Medium/Large customers, which primarily includes organizations with more than 100 employees, and Small Business customers, which primarily includes organizations with up to 100 employees.
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