CDW Corporation (NASDAQ:CDW) Shares Sold by CENTRAL TRUST Co
CENTRAL TRUST Co decreased its stake in CDW Corporation (NASDAQ:CDW) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,018 shares of the information technology services provider’s stock after selling 165 shares during the period. CENTRAL TRUST Co’s holdings in CDW Corporation were worth $376,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Catalyst Capital Advisors LLC increased its position in CDW Corporation by 12.7% in the first quarter. Catalyst Capital Advisors LLC now owns 2,080 shares of the information technology services provider’s stock valued at $120,000 after buying an additional 235 shares during the last quarter. James Investment Research Inc. acquired a new position in CDW Corporation during the first quarter valued at $153,000. Creative Planning increased its position in CDW Corporation by 179.2% in the first quarter. Creative Planning now owns 3,256 shares of the information technology services provider’s stock valued at $188,000 after buying an additional 2,090 shares during the last quarter. Commerce Bank acquired a new position in CDW Corporation during the first quarter valued at $211,000. Finally, Brown Advisory Securities LLC acquired a new position in CDW Corporation during the first quarter valued at $212,000. 90.91% of the stock is currently owned by institutional investors and hedge funds.
Shares of CDW Corporation (CDW) opened at 63.56 on Monday. CDW Corporation has a one year low of $40.56 and a one year high of $66.33. The stock has a market cap of $9.98 billion, a P/E ratio of 25.86 and a beta of 1.08. The stock has a 50 day moving average of $60.87 and a 200 day moving average of $57.51.
CDW Corporation (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, May 3rd. The information technology services provider reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.04. The company had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $3.24 billion. CDW Corporation had a net margin of 2.85% and a return on equity of 55.44%. CDW Corporation’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.67 EPS. On average, analysts forecast that CDW Corporation will post $3.83 EPS for the current year.
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Several research analysts have weighed in on CDW shares. Zacks Investment Research downgraded shares of CDW Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, April 11th. Royal Bank Of Canada restated a “buy” rating and set a $64.00 price objective on shares of CDW Corporation in a report on Monday, April 17th. Northcoast Research started coverage on shares of CDW Corporation in a report on Monday, April 24th. They set a “buy” rating and a $70.00 price objective on the stock. Barclays PLC restated an “overweight” rating and set a $64.00 price objective (up previously from $62.00) on shares of CDW Corporation in a report on Monday, May 1st. Finally, Robert W. Baird restated a “hold” rating on shares of CDW Corporation in a report on Wednesday, May 3rd. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $62.28.
In related news, insider Christine A. Leahy sold 12,000 shares of the company’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $63.20, for a total value of $758,400.00. Following the transaction, the insider now owns 186,130 shares in the company, valued at approximately $11,763,416. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jonathan J. Stevens sold 6,700 shares of the company’s stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $58.91, for a total transaction of $394,697.00. Following the completion of the transaction, the insider now owns 102,366 shares in the company, valued at approximately $6,030,381.06. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,100 shares of company stock worth $4,153,493. 2.20% of the stock is currently owned by company insiders.
CDW Corporation Company Profile
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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