US Bancorp DE lowered its position in shares of CDW Corp (NASDAQ:CDW) by 4.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 40,142 shares of the information technology services provider’s stock after selling 2,044 shares during the quarter. US Bancorp DE’s holdings in CDW were worth $2,789,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. USS Investment Management Ltd increased its holdings in CDW by 60.1% in the 4th quarter. USS Investment Management Ltd now owns 2,476,491 shares of the information technology services provider’s stock valued at $172,153,000 after purchasing an additional 929,488 shares during the last quarter. PGGM Investments acquired a new stake in CDW in the 4th quarter valued at approximately $15,309,000. Jennison Associates LLC increased its holdings in CDW by 5.0% in the 4th quarter. Jennison Associates LLC now owns 1,948,499 shares of the information technology services provider’s stock valued at $135,401,000 after purchasing an additional 92,103 shares during the last quarter. First Quadrant L P CA increased its holdings in CDW by 30.2% in the 3rd quarter. First Quadrant L P CA now owns 285,710 shares of the information technology services provider’s stock valued at $18,857,000 after purchasing an additional 66,194 shares during the last quarter. Finally, Boston Partners increased its holdings in CDW by 10.7% in the 4th quarter. Boston Partners now owns 654,626 shares of the information technology services provider’s stock valued at $45,490,000 after purchasing an additional 63,255 shares during the last quarter. Institutional investors and hedge funds own 90.62% of the company’s stock.
Several analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of CDW from a “sell” rating to a “hold” rating in a report on Thursday, February 8th. Morgan Stanley dropped their target price on shares of CDW from $72.00 to $70.00 and set an “equal weight” rating for the company in a report on Thursday, February 8th. Robert W. Baird reiterated a “buy” rating and issued a $80.00 target price on shares of CDW in a report on Wednesday, February 7th. BidaskClub upgraded shares of CDW from a “hold” rating to a “buy” rating in a report on Monday, February 5th. Finally, ValuEngine upgraded shares of CDW from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $72.00.
CDW Corp (NASDAQ CDW) opened at $70.38 on Thursday. The company has a debt-to-equity ratio of 4.20, a current ratio of 1.37 and a quick ratio of 1.15. CDW Corp has a 1 year low of $55.80 and a 1 year high of $76.73. The company has a market cap of $10,617.97, a P/E ratio of 18.70 and a beta of 1.07.
CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.05. CDW had a net margin of 3.44% and a return on equity of 68.41%. The company had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.85 billion. During the same quarter last year, the company posted $0.86 EPS. The firm’s revenue was up 9.9% compared to the same quarter last year. equities research analysts forecast that CDW Corp will post 4.56 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Monday, February 26th will be given a $0.21 dividend. The ex-dividend date is Friday, February 23rd. This represents a $0.84 annualized dividend and a yield of 1.19%. CDW’s dividend payout ratio is presently 25.23%.
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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