ING Groep NV cut its holdings in shares of CDW Co. (NASDAQ:CDW) by 1.6% during the first quarter, Holdings Channel.com reports. The institutional investor owned 9,335 shares of the information technology services provider’s stock after selling 149 shares during the period. ING Groep NV’s holdings in CDW were worth $1,547,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the business. Elo Mutual Pension Insurance Co increased its position in shares of CDW by 1.7% in the 1st quarter. Elo Mutual Pension Insurance Co now owns 10,316 shares of the information technology services provider’s stock valued at $1,710,000 after purchasing an additional 172 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of CDW by 1,249.5% in the 1st quarter. Acadian Asset Management LLC now owns 37,315 shares of the information technology services provider’s stock valued at $6,186,000 after buying an additional 34,550 shares during the last quarter. Teacher Retirement System of Texas grew its position in CDW by 3.5% during the 1st quarter. Teacher Retirement System of Texas now owns 888,822 shares of the information technology services provider’s stock worth $147,322,000 after purchasing an additional 30,460 shares during the last quarter. First Horizon Advisors Inc. grew its position in CDW by 366.7% during the 1st quarter. First Horizon Advisors Inc. now owns 1,092 shares of the information technology services provider’s stock worth $180,000 after purchasing an additional 858 shares during the last quarter. Finally, Synovus Financial Corp grew its position in CDW by 8.2% during the 1st quarter. Synovus Financial Corp now owns 24,889 shares of the information technology services provider’s stock worth $4,128,000 after purchasing an additional 1,893 shares during the last quarter. 91.02% of the stock is currently owned by institutional investors.
In related news, Director Donna F. Zarcone sold 7,006 shares of the business’s stock in a transaction that occurred on Wednesday, June 2nd. The stock was sold at an average price of $165.40, for a total transaction of $1,158,792.40. Also, insider Christina M. Corley sold 3,500 shares of the company’s stock in a transaction on Friday, April 16th. The shares were sold at an average price of $184.58, for a total value of $646,030.00. Following the completion of the transaction, the insider now directly owns 40,735 shares in the company, valued at $7,518,866.30. The disclosure for this sale can be found here. Insiders have sold a total of 17,995 shares of company stock worth $3,030,143 in the last ninety days. Insiders own 1.04% of the company’s stock.
CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, May 5th. The information technology services provider reported $1.74 EPS for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.25. CDW had a return on equity of 83.86% and a net margin of 4.51%. The firm had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.58 billion. During the same period last year, the company earned $1.38 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. Research analysts anticipate that CDW Co. will post 7.07 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 10th. Shareholders of record on Tuesday, May 25th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend was Monday, May 24th. CDW’s payout ratio is 24.43%.
Several analysts recently commented on the stock. Citigroup raised their price objective on shares of CDW from $175.00 to $210.00 in a research note on Thursday, May 6th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their target price on shares of CDW from $175.00 to $210.00 in a report on Thursday, May 6th. Morgan Stanley lifted their price target on shares of CDW from $188.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, April 14th. Zacks Investment Research cut shares of CDW from a “buy” rating to a “hold” rating and set a $172.00 target price on the stock. in a research report on Thursday, May 13th. Finally, Credit Suisse Group upped their price target on shares of CDW from $175.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, May 6th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. CDW currently has a consensus rating of “Buy” and an average target price of $181.00.
CDW Corporation provides integrated information technology (IT) solutions to business, government, education, and healthcare customers in the United States, the United Kingdom, and Canada. 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 on-premise, hybrid and cloud capabilities across data center and networking, digital workspace, security, and virtualization.
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