Federated Investors Inc. PA Decreases Stock Holdings in CDW (NASDAQ:CDW)

Federated Investors Inc. PA lowered its position in CDW (NASDAQ:CDW) by 0.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 163,926 shares of the information technology services provider’s stock after selling 163 shares during the quarter. Federated Investors Inc. PA owned approximately 0.11% of CDW worth $15,798,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Amundi Pioneer Asset Management Inc. grew its holdings in CDW by 1.5% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 4,658,385 shares of the information technology services provider’s stock valued at $377,563,000 after purchasing an additional 70,058 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of CDW by 5.9% in the first quarter. JPMorgan Chase & Co. now owns 3,053,205 shares of the information technology services provider’s stock valued at $294,237,000 after acquiring an additional 168,943 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of CDW by 7.6% in the first quarter. Wells Fargo & Company MN now owns 1,621,738 shares of the information technology services provider’s stock valued at $156,287,000 after acquiring an additional 114,778 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of CDW by 11.9% in the fourth quarter. Geode Capital Management LLC now owns 1,598,078 shares of the information technology services provider’s stock valued at $129,445,000 after acquiring an additional 169,507 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of CDW in the fourth quarter valued at $117,816,000. Institutional investors own 91.18% of the company’s stock.

In related news, insider Thomas E. Richards sold 16,636 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $105.32, for a total transaction of $1,752,103.52. Following the sale, the insider now directly owns 643,899 shares in the company, valued at approximately $67,815,442.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert F. Kirby sold 1,300 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $102.86, for a total transaction of $133,718.00. Following the sale, the insider now directly owns 37,670 shares of the company’s stock, valued at approximately $3,874,736.20. The disclosure for this sale can be found here. Insiders have sold 154,870 shares of company stock valued at $15,933,831 over the last 90 days. Company insiders own 2.25% of the company’s stock.

Shares of CDW stock traded up $1.53 during trading on Monday, reaching $112.53. The company’s stock had a trading volume of 786,000 shares, compared to its average volume of 790,932. The company has a market cap of $16.21 billion, a price-to-earnings ratio of 22.06 and a beta of 1.11. The company has a debt-to-equity ratio of 3.61, a quick ratio of 1.10 and a current ratio of 1.29. CDW has a one year low of $74.32 and a one year high of $113.59. The stock has a fifty day moving average price of $104.75.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, May 1st. The information technology services provider reported $1.24 EPS for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.13. CDW had a net margin of 4.03% and a return on equity of 77.94%. The company had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the prior year, the business posted $1.05 EPS. The company’s quarterly revenue was up 9.8% on a year-over-year basis. On average, equities research analysts anticipate that CDW will post 5.55 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th were given a dividend of $0.295 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.18 annualized dividend and a yield of 1.05%. CDW’s dividend payout ratio (DPR) is presently 23.14%.

A number of equities research analysts have weighed in on CDW shares. BidaskClub lowered CDW from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 23rd. Credit Suisse Group assumed coverage on CDW in a report on Thursday, April 11th. They set an “outperform” rating and a $117.00 target price on the stock. Zacks Investment Research raised CDW from a “hold” rating to a “strong-buy” rating and set a $125.00 target price on the stock in a report on Tuesday, May 7th. Deutsche Bank started coverage on CDW in a report on Tuesday, June 11th. They issued a “buy” rating and a $113.00 price target on the stock. Finally, Evercore ISI initiated coverage on CDW in a research note on Wednesday, June 5th. They set an “outperform” rating and a $120.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $107.75.

CDW 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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Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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