CDW Co. (NASDAQ:CDW) Shares Bought by CENTRAL TRUST Co

CENTRAL TRUST Co grew its position in shares of CDW Co. (NASDAQ:CDW – Get Rating) by 1.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,068 shares of the information technology services provider’s stock after acquiring an additional 206 shares during the quarter. CENTRAL TRUST Co’s holdings in CDW were worth $1,883,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC lifted its holdings in CDW by 89.8% in the second quarter. FMR LLC now owns 4,868,526 shares of the information technology services provider’s stock worth $767,086,000 after purchasing an additional 2,303,669 shares during the period. California Public Employees Retirement System lifted its holdings in CDW by 109.4% in the third quarter. California Public Employees Retirement System now owns 551,217 shares of the information technology services provider’s stock worth $86,034,000 after purchasing an additional 287,957 shares during the period. Renaissance Technologies LLC raised its position in CDW by 109.7% in the second quarter. Renaissance Technologies LLC now owns 500,398 shares of the information technology services provider’s stock worth $78,843,000 after acquiring an additional 261,800 shares in the last quarter. Bank of Montreal Can raised its position in CDW by 186.1% in the second quarter. Bank of Montreal Can now owns 338,123 shares of the information technology services provider’s stock worth $55,967,000 after acquiring an additional 219,946 shares in the last quarter. Finally, Cornerstone Investment Partners LLC bought a new stake in CDW in the third quarter worth about $30,927,000. Institutional investors and hedge funds own 92.78% of the company’s stock.

Insiders Place Their Bets

In other CDW news, Director Donna F. Zarcone sold 4,703 shares of the company’s stock in a transaction that occurred on Thursday, February 9th. The stock was sold at an average price of $203.23, for a total transaction of $955,790.69. Following the completion of the sale, the director now owns 18,058 shares of the company’s stock, valued at $3,669,927.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CDW shares. Raymond James boosted their price target on shares of CDW from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, February 9th. JPMorgan Chase & Co. upped their target price on CDW from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, December 20th. Credit Suisse Group upped their target price on CDW from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, February 9th. Morgan Stanley upped their target price on CDW from $217.00 to $228.00 and gave the company an “overweight” rating in a report on Thursday, February 9th. Finally, StockNews.com downgraded CDW from a “buy” rating to a “hold” rating in a report on Monday, January 30th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $221.86.

CDW Trading Down 1.4 %

Shares of NASDAQ CDW opened at $188.65 on Thursday. The stock has a market cap of $25.58 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 1.47 and a beta of 1.13. The business has a 50 day simple moving average of $198.66 and a 200 day simple moving average of $182.66. CDW Co. has a 52 week low of $147.91 and a 52 week high of $215.00. The company has a debt-to-equity ratio of 3.66, a quick ratio of 1.17 and a current ratio of 1.33.

CDW (NASDAQ:CDW – Get Rating) last announced its earnings results on Wednesday, February 8th. The information technology services provider reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.02. The firm had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $6.19 billion. CDW had a return on equity of 103.95% and a net margin of 4.69%. The company’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.98 earnings per share. On average, research analysts predict that CDW Co. will post 9.87 earnings per share for the current fiscal year.

CDW declared that its Board of Directors has approved a share repurchase program on Wednesday, February 8th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to repurchase up to 2.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Friday, February 24th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, February 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 1.25%. CDW’s payout ratio is currently 29.03%.

CDW Profile

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CDW Corp. engages in the provision of information technology solutions to small, medium and large business, government, education and healthcare customers in the United States, the United Kingdom and Canada. It operates through the following segments: Corporate, Small Business, and Public. The Corporate segment serves the private sector business customers.