CDW (CDW) Shares Sold by Oak Ridge Investments LLC

Oak Ridge Investments LLC decreased its position in CDW (NASDAQ:CDW) by 3.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,937 shares of the information technology services provider’s stock after selling 1,930 shares during the period. Oak Ridge Investments LLC’s holdings in CDW were worth $4,440,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CDW. Synovus Financial Corp lifted its position in shares of CDW by 62.1% during the third quarter. Synovus Financial Corp now owns 1,470 shares of the information technology services provider’s stock worth $131,000 after acquiring an additional 563 shares in the last quarter. Signature Estate & Investment Advisors LLC lifted its position in shares of CDW by 5.4% during the third quarter. Signature Estate & Investment Advisors LLC now owns 13,478 shares of the information technology services provider’s stock worth $1,198,000 after acquiring an additional 692 shares in the last quarter. FineMark National Bank & Trust lifted its position in shares of CDW by 0.9% during the third quarter. FineMark National Bank & Trust now owns 82,810 shares of the information technology services provider’s stock worth $7,363,000 after acquiring an additional 752 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of CDW by 149.5% during the third quarter. Bessemer Group Inc. now owns 1,295 shares of the information technology services provider’s stock worth $115,000 after acquiring an additional 776 shares in the last quarter. Finally, IFM Investors Pty Ltd lifted its position in shares of CDW by 11.9% during the third quarter. IFM Investors Pty Ltd now owns 8,526 shares of the information technology services provider’s stock worth $758,000 after acquiring an additional 909 shares in the last quarter. Institutional investors and hedge funds own 90.37% of the company’s stock.

Shares of CDW stock opened at $89.64 on Wednesday. The company has a current ratio of 1.41, a quick ratio of 1.24 and a debt-to-equity ratio of 2.75. CDW has a 52-week low of $65.59 and a 52-week high of $92.18. The firm has a market capitalization of $13.38 billion, a P/E ratio of 23.10 and a beta of 1.02.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, October 31st. The information technology services provider reported $1.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.34 by $0.08. CDW had a return on equity of 70.39% and a net margin of 4.24%. The company had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter last year, the business posted $1.08 earnings per share. The firm’s revenue was up 11.2% compared to the same quarter last year. On average, analysts predict that CDW will post 4.88 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Monday, November 26th will be given a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Friday, November 23rd. This is an increase from CDW’s previous quarterly dividend of $0.21. CDW’s dividend payout ratio (DPR) is 21.65%.

In related news, insider Frederick J. Kulevich sold 2,421 shares of the stock in a transaction on Monday, November 12th. The stock was sold at an average price of $89.25, for a total value of $216,074.25. Following the sale, the insider now owns 18,925 shares in the company, valued at $1,689,056.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas E. Richards sold 17,143 shares of the stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $86.15, for a total value of $1,476,869.45. Following the completion of the sale, the insider now owns 617,218 shares in the company, valued at approximately $53,173,330.70. The disclosure for this sale can be found here. Insiders sold 91,728 shares of company stock worth $7,914,539 in the last quarter. 2.60% of the stock is currently owned by company insiders.

Several research firms have issued reports on CDW. Needham & Company LLC increased their target price on CDW from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, August 3rd. Stifel Nicolaus restated a “buy” rating and set a $92.00 target price on shares of CDW in a research report on Monday, July 23rd. BidaskClub downgraded CDW from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. ValuEngine downgraded CDW from a “buy” rating to a “hold” rating in a research report on Monday, October 8th. Finally, Northcoast Research restated a “buy” rating and set a $93.00 target price on shares of CDW in a research report on Friday, July 20th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. CDW currently has a consensus rating of “Buy” and an average target price of $88.63.

COPYRIGHT VIOLATION WARNING: “CDW (CDW) Shares Sold by Oak Ridge Investments LLC” was first reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international copyright legislation. The legal version of this piece can be accessed at https://www.chaffeybreeze.com/2018/11/14/cdw-cdw-shares-sold-by-oak-ridge-investments-llc.html.

About CDW

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.

Further Reading: Liquidity

Want to see what other hedge funds are holding CDW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CDW (NASDAQ:CDW).

Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

Receive News & Ratings for CDW Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CDW and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply