Assenagon Asset Management S.A. lessened its position in shares of CDW (NASDAQ:CDW) by 84.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,200 shares of the information technology services provider’s stock after selling 59,216 shares during the period. Assenagon Asset Management S.A.’s holdings in CDW were worth $1,380,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of CDW. North Star Investment Management Corp. bought a new stake in shares of CDW in the third quarter valued at approximately $26,000. Johnson Financial Group Inc. bought a new stake in shares of CDW in the second quarter valued at approximately $28,000. CSat Investment Advisory L.P. bought a new stake in shares of CDW in the second quarter valued at approximately $28,000. Berman Capital Advisors LLC boosted its stake in shares of CDW by 166.3% in the second quarter. Berman Capital Advisors LLC now owns 277 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 173 shares during the period. Finally, Cullen Frost Bankers Inc. boosted its stake in shares of CDW by 478.4% in the second quarter. Cullen Frost Bankers Inc. now owns 295 shares of the information technology services provider’s stock valued at $33,000 after buying an additional 244 shares during the period. Institutional investors own 91.54% of the company’s stock.
Several equities research analysts have weighed in on the company. BidaskClub cut CDW from a “strong-buy” rating to a “buy” rating in a research note on Friday. 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. ValuEngine cut CDW from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Credit Suisse Group upped their target price on CDW from $118.00 to $132.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research upgraded CDW from a “hold” rating to a “strong-buy” rating and set a $113.00 target price for the company in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $118.13.
CDW (NASDAQ:CDW) last released its earnings results on Wednesday, July 31st. The information technology services provider reported $1.55 earnings per share for the quarter, topping the 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 firm had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.50 billion. During the same period in the prior year, the company earned $1.38 earnings per share. The company’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, sell-side analysts expect that CDW will post 5.62 earnings per share for the current year.
In other news, insider Collin B. Kebo sold 3,600 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $106.72, for a total transaction of $384,192.00. Following the completion of the transaction, the insider now directly owns 18,752 shares in the company, valued at $2,001,213.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Neil B. Fairfield sold 2,118 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $118.12, for a total transaction of $250,178.16. Following the transaction, the insider now owns 7,054 shares of the company’s stock, valued at $833,218.48. The disclosure for this sale can be found here. Insiders have sold 185,373 shares of company stock valued at $21,519,610 over the last quarter. Company insiders own 2.25% of the company’s stock.
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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