FDx Advisors Inc. Sells 2,536 Shares of CDW Corporation (CDW)
FDx Advisors Inc. decreased its stake in CDW Corporation (NASDAQ:CDW) by 6.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,661 shares of the information technology services provider’s stock after selling 2,536 shares during the period. FDx Advisors Inc.’s holdings in CDW Corporation were worth $2,618,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of CDW. Teachers Advisors LLC increased its stake in shares of CDW Corporation by 70.0% in the first quarter. Teachers Advisors LLC now owns 242,945 shares of the information technology services provider’s stock valued at $14,020,000 after buying an additional 100,013 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of CDW Corporation by 1.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 863,133 shares of the information technology services provider’s stock valued at $49,809,000 after purchasing an additional 9,891 shares in the last quarter. James Investment Research Inc. boosted its position in shares of CDW Corporation by 803.4% during the 2nd quarter. James Investment Research Inc. now owns 23,940 shares of the information technology services provider’s stock valued at $1,497,000 after purchasing an additional 21,290 shares in the last quarter. Aperio Group LLC boosted its position in shares of CDW Corporation by 8.2% during the 2nd quarter. Aperio Group LLC now owns 41,079 shares of the information technology services provider’s stock valued at $2,569,000 after purchasing an additional 3,099 shares in the last quarter. Finally, First Quadrant L P CA boosted its position in shares of CDW Corporation by 76.1% during the 2nd quarter. First Quadrant L P CA now owns 219,516 shares of the information technology services provider’s stock valued at $13,726,000 after purchasing an additional 94,881 shares in the last quarter. 90.40% of the stock is owned by institutional investors.
Several equities research analysts recently commented on the company. Zacks Investment Research upgraded CDW Corporation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 8th. BidaskClub upgraded CDW Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Morgan Stanley upped their target price on CDW Corporation from $58.00 to $63.00 and gave the company an “equal weight” rating in a research report on Thursday, November 2nd. Robert W. Baird restated an “outperform” rating and set a $75.00 target price (up previously from $71.00) on shares of CDW Corporation in a research report on Wednesday, August 9th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $70.00 target price on shares of CDW Corporation in a research report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $67.85.
In other news, insider Jonathan J. Stevens sold 6,700 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $61.78, for a total value of $413,926.00. Following the transaction, the insider now owns 86,366 shares in the company, valued at $5,335,691.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas E. Richards sold 16,077 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $61.92, for a total value of $995,487.84. Following the completion of the transaction, the insider now owns 731,792 shares in the company, valued at approximately $45,312,560.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 140,788 shares of company stock worth $9,208,767. Corporate insiders own 2.60% of the company’s stock.
Shares of CDW Corporation (NASDAQ:CDW) traded up $0.10 during trading hours on Friday, reaching $67.26. The company’s stock had a trading volume of 950,300 shares, compared to its average volume of 758,014. The company has a market capitalization of $10,295.02, a price-to-earnings ratio of 19.00 and a beta of 1.08. The company has a current ratio of 1.37, a quick ratio of 1.15 and a debt-to-equity ratio of 4.20. CDW Corporation has a 1-year low of $44.54 and a 1-year high of $71.53.
CDW Corporation (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, November 1st. The information technology services provider reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.06. The business had revenue of $4.03 billion for the quarter, compared to analyst estimates of $3.99 billion. CDW Corporation had a return on equity of 62.71% and a net margin of 2.90%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.97 earnings per share. equities research analysts expect that CDW Corporation will post 3.64 earnings per share for the current year.
CDW Corporation declared that its board has authorized a share buyback plan on Thursday, August 3rd that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 24th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.84 annualized dividend and a yield of 1.25%. This is a positive change from CDW Corporation’s previous quarterly dividend of $0.16. CDW Corporation’s dividend payout ratio is presently 23.70%.
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CDW Corporation 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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