Waratah Capital Advisors Ltd. Buys Shares of 122,898 CDW (NASDAQ:CDW)

Waratah Capital Advisors Ltd. bought a new stake in CDW (NASDAQ:CDW) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 122,898 shares of the information technology services provider’s stock, valued at approximately $15,146,000. CDW accounts for approximately 1.7% of Waratah Capital Advisors Ltd.’s investment portfolio, making the stock its 16th largest holding.

Several other large investors also recently added to or reduced their stakes in CDW. AE Wealth Management LLC lifted its position in CDW by 76.4% during the second quarter. AE Wealth Management LLC now owns 4,076 shares of the information technology services provider’s stock worth $452,000 after acquiring an additional 1,765 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of CDW by 36.1% in the 2nd quarter. Arizona State Retirement System now owns 37,756 shares of the information technology services provider’s stock valued at $4,191,000 after purchasing an additional 10,018 shares during the last quarter. Strs Ohio increased its position in shares of CDW by 12.3% during the second quarter. Strs Ohio now owns 21,021 shares of the information technology services provider’s stock worth $2,333,000 after buying an additional 2,310 shares during the period. Wetherby Asset Management Inc. increased its position in shares of CDW by 6.1% during the second quarter. Wetherby Asset Management Inc. now owns 4,630 shares of the information technology services provider’s stock worth $514,000 after buying an additional 265 shares during the period. Finally, Rothschild & Co. Asset Management US Inc. raised its stake in CDW by 0.8% during the second quarter. Rothschild & Co. Asset Management US Inc. now owns 232,348 shares of the information technology services provider’s stock worth $25,791,000 after buying an additional 1,742 shares during the last quarter. 93.76% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently issued reports on CDW. ValuEngine cut shares of CDW from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. BidaskClub raised CDW from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 2nd. Morgan Stanley set a $126.00 price objective on CDW and gave the company a “hold” rating in a research note on Friday, November 1st. Zacks Investment Research upgraded CDW from a “hold” rating to a “strong-buy” rating and set a $113.00 target price on the stock in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. cut CDW from a “neutral” rating to an “underweight” rating and set a $116.00 target price for the company. in a research note on Monday, August 5th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $120.63.

In related news, insider Robert F. Kirby sold 1,300 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $111.60, for a total value of $145,080.00. Following the transaction, the insider now owns 32,470 shares of the company’s stock, valued at approximately $3,623,652. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Thomas E. Richards sold 58,333 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $112.17, for a total transaction of $6,543,212.61. Following the completion of the transaction, the insider now directly owns 636,109 shares in the company, valued at approximately $71,352,346.53. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 177,385 shares of company stock valued at $21,846,450. Corporate insiders own 2.25% of the company’s stock.

CDW traded down $1.60 during midday trading on Tuesday, hitting $132.48. The company had a trading volume of 13,883 shares, compared to its average volume of 826,412. The stock’s 50 day moving average price is $131.07 and its 200 day moving average price is $117.04. CDW has a 52 week low of $74.32 and a 52 week high of $138.88. The company has a market capitalization of $19.40 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 1.80 and a beta of 1.07. The company has a quick ratio of 1.14, a current ratio of 1.33 and a debt-to-equity ratio of 3.57.

CDW (NASDAQ:CDW) last issued its earnings results on Thursday, October 31st. The information technology services provider reported $1.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.58 by $0.12. The company had revenue of $4.91 billion during the quarter, compared to the consensus estimate of $4.66 billion. CDW had a return on equity of 91.07% and a net margin of 4.04%. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period last year, the business posted $1.42 EPS. Research analysts predict that CDW will post 5.73 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.52 dividend on an annualized basis and a yield of 1.15%. CDW’s dividend payout ratio (DPR) is presently 29.80%.

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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Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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