Empire Life Investments Inc. raised its holdings in CDW (NASDAQ:CDW) by 3.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,292 shares of the information technology services provider’s stock after purchasing an additional 219 shares during the period. Empire Life Investments Inc.’s holdings in CDW were worth $606,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of CDW. Ropes Wealth Advisors LLC lifted its holdings in shares of CDW by 8.0% in the 1st quarter. Ropes Wealth Advisors LLC now owns 5,302 shares of the information technology services provider’s stock worth $511,000 after acquiring an additional 392 shares during the last quarter. Virtu Financial LLC lifted its holdings in shares of CDW by 10.6% in the 1st quarter. Virtu Financial LLC now owns 5,625 shares of the information technology services provider’s stock worth $542,000 after acquiring an additional 540 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of CDW in the 1st quarter worth approximately $474,000. Biltmore Family Office LLC bought a new stake in shares of CDW in the 1st quarter worth approximately $223,000. Finally, Nachman Norwood & Parrott Inc bought a new stake in shares of CDW in the 1st quarter worth approximately $233,000. Hedge funds and other institutional investors own 91.18% of the company’s stock.
Shares of NASDAQ CDW opened at $105.39 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.10 and a debt-to-equity ratio of 3.61. CDW has a 52 week low of $74.32 and a 52 week high of $111.59. The firm has a market capitalization of $16.02 billion, a P/E ratio of 20.66 and a beta of 1.07.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Friday, May 24th will be paid a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Thursday, May 23rd. CDW’s payout ratio is 23.14%.
A number of equities research analysts have recently weighed in on CDW shares. BidaskClub lowered shares of CDW from a “buy” rating to a “hold” rating in a report on Wednesday, January 16th. ValuEngine upgraded shares of CDW from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th. Credit Suisse Group started coverage on shares of CDW in a report on Thursday, April 11th. They issued an “outperform” rating and a $117.00 price objective for the company. Stifel Nicolaus lowered shares of CDW from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $100.00 to $105.00 in a report on Wednesday, April 17th. Finally, Northcoast Research lowered shares of CDW from a “buy” rating to a “neutral” rating in a report on Friday, April 26th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $104.83.
In other CDW news, insider Christina V. Rother sold 4,000 shares of the business’s stock in a transaction on Monday, February 11th. The shares were sold at an average price of $90.20, for a total transaction of $360,800.00. Following the transaction, the insider now directly owns 90,231 shares of the company’s stock, valued at approximately $8,138,836.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Steven W. Alesio sold 20,013 shares of the business’s stock in a transaction on Monday, February 11th. The shares were sold at an average price of $89.66, for a total transaction of $1,794,365.58. Following the transaction, the director now directly owns 24,183 shares in the company, valued at $2,168,247.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,050 shares of company stock worth $7,554,430. 2.25% of the stock is owned by insiders.
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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