State of Alaska Department of Revenue grew its position in CDW (NASDAQ:CDW) by 1.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,094 shares of the information technology services provider’s stock after acquiring an additional 264 shares during the period. State of Alaska Department of Revenue’s holdings in CDW were worth $2,417,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in shares of CDW by 0.8% during the third quarter. Dimensional Fund Advisors LP now owns 862,101 shares of the information technology services provider’s stock worth $76,655,000 after purchasing an additional 6,705 shares in the last quarter. Franklin Resources Inc. purchased a new stake in shares of CDW during the third quarter worth about $347,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of CDW during the third quarter worth about $307,000. Riverhead Capital Management LLC increased its stake in shares of CDW by 82.4% during the third quarter. Riverhead Capital Management LLC now owns 1,550 shares of the information technology services provider’s stock worth $138,000 after purchasing an additional 700 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in shares of CDW during the third quarter worth about $307,000. Institutional investors and hedge funds own 91.05% of the company’s stock.
In other news, insider Douglas E. Eckrote sold 10,000 shares of the stock in a transaction that occurred on Friday, February 8th. The shares were sold at an average price of $89.49, for a total value of $894,900.00. Following the completion of the sale, the insider now owns 152,765 shares of the company’s stock, valued at approximately $13,670,939.85. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Christina M. Corley sold 3,567 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $96.70, for a total transaction of $344,928.90. Following the completion of the sale, the insider now directly owns 643,052 shares of the company’s stock, valued at approximately $62,183,128.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 82,827 shares of company stock valued at $7,563,036. 2.60% of the stock is owned by corporate insiders.
CDW (NASDAQ:CDW) last announced its quarterly earnings data on Thursday, February 7th. The information technology services provider reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.11. CDW had a net margin of 3.96% and a return on equity of 74.63%. The company had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter in the prior year, the company earned $0.99 EPS. CDW’s revenue was up 8.6% compared to the same quarter last year. As a group, equities analysts forecast that CDW will post 5.43 earnings per share for the current year.
A number of analysts have recently commented on the stock. BidaskClub raised shares of CDW from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Stifel Nicolaus cut shares of CDW from a “buy” rating to a “hold” rating and boosted their target price for the stock from $100.00 to $105.00 in a research note on Wednesday. Credit Suisse Group started coverage on shares of CDW in a research note on Thursday, April 11th. They set an “outperform” rating and a $117.00 price objective for the company. ValuEngine raised shares of CDW from a “hold” rating to a “buy” rating in a research note on Wednesday, February 13th. Finally, Zacks Investment Research cut shares of CDW from a “buy” rating to a “hold” rating in a research note on Tuesday, January 1st. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. CDW currently has an average rating of “Buy” and a consensus price target of $99.33.
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CDW Company Profile
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.
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