Norris Perne & French LLP MI Reduces Holdings in CDW Corporation $CDW

Norris Perne & French LLP MI cut its position in CDW Corporation (NASDAQ:CDW) by 91.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,391 shares of the information technology services provider’s stock after selling 48,843 shares during the quarter. Norris Perne & French LLP MI’s holdings in CDW were worth $699,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CDW. Bayforest Capital Ltd purchased a new stake in CDW during the 1st quarter worth $31,000. eCIO Inc. acquired a new stake in shares of CDW during the first quarter valued at about $93,000. Steph & Co. grew its stake in shares of CDW by 917.6% during the second quarter. Steph & Co. now owns 692 shares of the information technology services provider’s stock valued at $124,000 after acquiring an additional 624 shares in the last quarter. Quarry LP increased its position in shares of CDW by 201.5% during the first quarter. Quarry LP now owns 826 shares of the information technology services provider’s stock worth $132,000 after acquiring an additional 552 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of CDW by 52.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 815 shares of the information technology services provider’s stock worth $146,000 after acquiring an additional 281 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CDW has been the subject of a number of recent analyst reports. Evercore ISI lowered their price objective on CDW from $215.00 to $200.00 and set an “outperform” rating for the company in a research note on Monday, October 20th. Barclays reduced their target price on CDW from $176.00 to $148.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. Raymond James Financial upgraded shares of CDW from an “outperform” rating to a “strong-buy” rating and set a $185.00 price target for the company in a research note on Tuesday, November 25th. Weiss Ratings reiterated a “hold (c-)” rating on shares of CDW in a research note on Thursday, October 30th. Finally, UBS Group decreased their price objective on shares of CDW from $200.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $186.43.

Insider Transactions at CDW

In other CDW news, insider Sona Chawla sold 7,400 shares of CDW stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $146.17, for a total value of $1,081,658.00. Following the completion of the transaction, the insider directly owned 28,110 shares in the company, valued at $4,108,838.70. The trade was a 20.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.90% of the stock is owned by corporate insiders.

CDW Stock Performance

Shares of CDW opened at $139.71 on Monday. The stock has a market capitalization of $18.19 billion, a PE ratio of 17.64, a price-to-earnings-growth ratio of 1.95 and a beta of 1.07. The business’s fifty day moving average price is $146.23 and its 200 day moving average price is $160.51. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.39 and a quick ratio of 1.30. CDW Corporation has a 12-month low of $135.63 and a 12-month high of $222.92.

CDW (NASDAQ:CDW) last released its earnings results on Tuesday, November 4th. The information technology services provider reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.09. CDW had a net margin of 4.76% and a return on equity of 51.89%. The firm had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.75 billion. Equities research analysts forecast that CDW Corporation will post 9.41 EPS for the current year.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Tuesday, November 25th were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.8%. This is a positive change from CDW’s previous quarterly dividend of $0.63. The ex-dividend date was Tuesday, November 25th. CDW’s dividend payout ratio (DPR) is currently 31.82%.

CDW Company Profile

CDW (NASDAQ: CDW) is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.

CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.