First Mercantile Trust Co. held its stake in shares of CDW Corporation (NASDAQ:CDW) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,740 shares of the information technology services provider’s stock at the end of the second quarter. First Mercantile Trust Co.’s holdings in CDW Corporation were worth $484,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of CDW Corporation by 4.5% in the first quarter. Vanguard Group Inc. now owns 15,015,969 shares of the information technology services provider’s stock valued at $866,571,000 after buying an additional 653,020 shares in the last quarter. BlackRock Inc. increased its stake in shares of CDW Corporation by 7,281.8% in the first quarter. BlackRock Inc. now owns 10,875,190 shares of the information technology services provider’s stock valued at $627,607,000 after buying an additional 10,727,865 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of CDW Corporation by 13.0% in the first quarter. JPMorgan Chase & Co. now owns 4,787,140 shares of the information technology services provider’s stock valued at $276,266,000 after buying an additional 549,088 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of CDW Corporation by 1.9% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,784,418 shares of the information technology services provider’s stock valued at $218,399,000 after buying an additional 72,351 shares in the last quarter. Finally, State Street Corp increased its stake in shares of CDW Corporation by 3.0% in the first quarter. State Street Corp now owns 2,836,131 shares of the information technology services provider’s stock valued at $163,683,000 after buying an additional 81,539 shares in the last quarter. Institutional investors and hedge funds own 91.48% of the company’s stock.

Shares of CDW Corporation (NASDAQ CDW) opened at 61.68 on Wednesday. CDW Corporation has a 1-year low of $43.46 and a 1-year high of $66.33. The firm has a market cap of $9.55 billion, a PE ratio of 23.42 and a beta of 1.08. The company’s 50-day moving average price is $63.11 and its 200 day moving average price is $59.98.

CDW Corporation (NASDAQ:CDW) last released its earnings results on Thursday, August 3rd. The information technology services provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.05. CDW Corporation had a return on equity of 58.89% and a net margin of 2.95%. The company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.84 billion. During the same quarter in the previous year, the company posted $0.93 EPS. CDW Corporation’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, analysts predict that CDW Corporation will post $3.83 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 25th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Wednesday, August 23rd. CDW Corporation’s dividend payout ratio (DPR) is presently 24.33%.

CDW Corporation declared that its board has approved a share repurchase plan on Thursday, August 3rd that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

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CDW has been the subject of several recent analyst reports. Zacks Investment Research upgraded CDW Corporation from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Tuesday, July 11th. J P Morgan Chase & Co reiterated a “neutral” rating and issued a $60.00 target price (up from $59.00) on shares of CDW Corporation in a research report on Wednesday, August 9th. Robert W. Baird reiterated a “hold” rating on shares of CDW Corporation in a research report on Wednesday, May 3rd. BidaskClub upgraded CDW Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Finally, Barclays PLC downgraded CDW Corporation from an “overweight” rating to an “equal weight” rating and set a $64.00 target price for the company. in a research report on Monday, July 24th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. CDW Corporation has a consensus rating of “Buy” and a consensus target price of $65.94.

In other CDW Corporation news, insider Thomas E. Richards sold 15,733 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $63.49, for a total transaction of $998,888.17. Following the completion of the transaction, the insider now owns 747,869 shares of the company’s stock, valued at approximately $47,482,202.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christine A. Leahy sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $62.86, for a total value of $754,320.00. Following the transaction, the insider now directly owns 174,130 shares of the company’s stock, valued at approximately $10,945,811.80. The disclosure for this sale can be found here. In the last three months, insiders sold 88,833 shares of company stock valued at $5,559,752. 2.60% of the stock is currently owned by corporate 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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Institutional Ownership by Quarter for CDW Corporation (NASDAQ:CDW)

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