Commerce Bank Has $935,000 Holdings in CDW (CDW)
Commerce Bank raised its stake in shares of CDW (NASDAQ:CDW) by 49.3% in the 3rd quarter, Holdings Channel reports. The fund owned 10,508 shares of the information technology services provider’s stock after acquiring an additional 3,469 shares during the quarter. Commerce Bank’s holdings in CDW were worth $935,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Toronto Dominion Bank raised its stake in CDW by 45.7% during the 2nd quarter. Toronto Dominion Bank now owns 15,267 shares of the information technology services provider’s stock valued at $1,233,000 after acquiring an additional 4,790 shares during the last quarter. Bank of New York Mellon Corp raised its stake in CDW by 7.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 868,395 shares of the information technology services provider’s stock valued at $70,158,000 after acquiring an additional 59,184 shares during the last quarter. Northern Trust Corp raised its stake in CDW by 1.9% during the 2nd quarter. Northern Trust Corp now owns 1,171,168 shares of the information technology services provider’s stock valued at $94,620,000 after acquiring an additional 21,755 shares during the last quarter. SG Americas Securities LLC raised its stake in CDW by 185.0% during the 2nd quarter. SG Americas Securities LLC now owns 31,306 shares of the information technology services provider’s stock valued at $2,529,000 after acquiring an additional 20,321 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in CDW during the 2nd quarter valued at approximately $6,258,000. 89.40% of the stock is owned by hedge funds and other institutional investors.
CDW has been the subject of a number of analyst reports. Zacks Investment Research downgraded CDW from a “buy” rating to a “hold” rating in a research note on Wednesday, October 3rd. ValuEngine raised CDW from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. BidaskClub downgraded CDW from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 25th. Morgan Stanley increased their target price on CDW from $78.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Friday, August 3rd. Finally, Raymond James raised CDW from an “underperform” rating to a “market perform” rating in a research note on Wednesday, July 18th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $88.63.
CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, October 31st. The information technology services provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.08. The business had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.24 billion. CDW had a return on equity of 70.39% and a net margin of 4.24%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.08 EPS. On average, equities research analysts expect that CDW will post 4.88 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Monday, November 26th will be paid a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.30%. This is an increase from CDW’s previous quarterly dividend of $0.21. The ex-dividend date is Friday, November 23rd. CDW’s dividend payout ratio is 21.65%.
In related news, insider Thomas E. Richards sold 17,143 shares of the company’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $86.15, for a total value of $1,476,869.45. Following the sale, the insider now owns 617,218 shares in the company, valued at approximately $53,173,330.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Thomas E. Richards sold 18,182 shares of the company’s stock in a transaction that occurred on Thursday, October 11th. The stock was sold at an average price of $81.48, for a total value of $1,481,469.36. Following the completion of the sale, the insider now owns 51,077 shares in the company, valued at approximately $4,161,753.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,307 shares of company stock worth $7,698,465. Insiders own 2.60% of the company’s stock.
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CDW Company Profile
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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