BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in CDW common stock (NASDAQ:CDW) by 106.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 137,314 shares of the information technology services provider’s stock after purchasing an additional 70,664 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in CDW common stock were worth $9,655,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of CDW. Delpha Capital Management LLC purchased a new position in CDW common stock in the fourth quarter worth approximately $154,000. Stratos Wealth Partners LTD. grew its position in CDW common stock by 469.8% in the first quarter. Stratos Wealth Partners LTD. now owns 2,587 shares of the information technology services provider’s stock worth $182,000 after acquiring an additional 2,133 shares during the period. SG Americas Securities LLC acquired a new position in CDW common stock during the fourth quarter worth $184,000. Bank of Hawaii acquired a new position in CDW common stock during the fourth quarter worth $202,000. Finally, Two Sigma Securities LLC acquired a new position in CDW common stock during the fourth quarter worth $208,000. Institutional investors own 90.04% of the company’s stock.Related: Best Stocks To Buy For 2018
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In other CDW common stock news, Director Paul J. Finnegan sold 2,293 shares of the firm’s stock in a transaction on Wednesday, May 9th. The stock was sold at an average price of $77.04, for a total value of $176,652.72. Following the sale, the director now directly owns 12,384 shares in the company, valued at $954,063.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christina M. Corley sold 4,000 shares of the firm’s stock in a transaction on Monday, April 16th. The shares were sold at an average price of $69.68, for a total value of $278,720.00. Following the completion of the sale, the insider now owns 36,177 shares in the company, valued at $2,520,813.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,017 shares of company stock worth $6,037,715. Insiders own 2.60% of the company’s stock.
Shares of CDW common stock opened at $83.84 on Friday, according to Marketbeat.com. The firm has a market capitalization of $12.71 billion, a PE ratio of 20.74 and a beta of 1.11. The company has a debt-to-equity ratio of 3.22, a quick ratio of 1.16 and a current ratio of 1.35. CDW common stock has a 12-month low of $58.57 and a 12-month high of $85.49.Related: Top Stocks To Buy For 2018
CDW common stock (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, May 2nd. The information technology services provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.17. The business had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.46 billion. CDW common stock had a return on equity of 69.59% and a net margin of 3.83%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the firm earned $0.75 earnings per share. analysts anticipate that CDW common stock will post 4.68 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 11th. Stockholders of record on Friday, May 25th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Thursday, May 24th. CDW common stock’s payout ratio is currently 21.65%.
CDW has been the topic of a number of research reports. JPMorgan Chase & Co. initiated coverage on CDW common stock in a research note on Wednesday, March 7th. They set a “neutral” rating and a $83.00 price target on the stock. BidaskClub upgraded CDW common stock from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 21st. Needham & Company LLC upped their price target on CDW common stock from $78.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, March 22nd. Robert W. Baird restated a “buy” rating on shares of CDW common stock in a research note on Wednesday, May 2nd. Finally, Morgan Stanley upped their price target on CDW common stock from $70.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $78.50.Related: Best Stocks To Buy For April 2017
CDW common stock 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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