Signature Estate & Investment Advisors LLC Sells 1,056 Shares of CDW (NASDAQ:CDW)
Signature Estate & Investment Advisors LLC reduced its position in CDW (NASDAQ:CDW) by 7.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,310 shares of the information technology services provider’s stock after selling 1,056 shares during the quarter. Signature Estate & Investment Advisors LLC’s holdings in CDW were worth $1,366,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC lifted its holdings in shares of CDW by 65.6% during the first quarter. AQR Capital Management LLC now owns 3,418,230 shares of the information technology services provider’s stock valued at $328,150,000 after acquiring an additional 1,354,651 shares during the period. Bessemer Group Inc. lifted its holdings in shares of CDW by 4,756.9% during the second quarter. Bessemer Group Inc. now owns 817,171 shares of the information technology services provider’s stock valued at $90,707,000 after acquiring an additional 800,346 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in shares of CDW by 13,085.8% during the second quarter. CIBC Private Wealth Group LLC now owns 553,143 shares of the information technology services provider’s stock valued at $61,399,000 after acquiring an additional 548,948 shares during the period. Wedge Capital Management L L P NC bought a new position in shares of CDW in the first quarter valued at about $43,686,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of CDW by 208.7% in the first quarter. The Manufacturers Life Insurance Company now owns 529,600 shares of the information technology services provider’s stock valued at $51,038,000 after buying an additional 358,029 shares during the last quarter. 93.57% of the stock is owned by hedge funds and other institutional investors.
CDW has been the subject of a number of research analyst reports. Bank of America initiated coverage on CDW in a report on Tuesday, July 30th. They issued a “buy” rating and a $140.00 price target for the company. Deutsche Bank initiated coverage on CDW in a report on Tuesday, June 11th. They issued a “buy” rating and a $113.00 price target for the company. Northcoast Research cut CDW from a “buy” rating to a “neutral” rating in a report on Friday, April 26th. They noted that the move was a valuation call. Morgan Stanley lifted their price target on CDW from $97.00 to $106.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Finally, Stifel Nicolaus cut CDW from a “buy” rating to a “hold” rating and lifted their price target for the company from $100.00 to $105.00 in a report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $118.13.
CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $1.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.10. CDW had a return on equity of 82.78% and a net margin of 4.07%. The business had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.50 billion. During the same period in the previous year, the firm earned $1.38 EPS. CDW’s quarterly revenue was up 10.6% compared to the same quarter last year. Sell-side analysts expect that CDW will post 5.62 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 26th will be given a $0.295 dividend. The ex-dividend date is Friday, August 23rd. This represents a $1.18 annualized dividend and a dividend yield of 1.09%. CDW’s dividend payout ratio is presently 23.14%.
In other CDW news, insider Collin B. Kebo sold 3,600 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $106.72, for a total value of $384,192.00. Following the sale, the insider now owns 18,752 shares in the company, valued at approximately $2,001,213.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas E. Richards sold 66,667 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $105.31, for a total value of $7,020,701.77. Following the completion of the sale, the insider now owns 644,443 shares in the company, valued at approximately $67,866,292.33. The disclosure for this sale can be found here. Insiders sold a total of 140,852 shares of company stock valued at $14,506,703 over the last quarter. 2.25% of the stock is owned by insiders.
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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