Bank of Montreal Can Takes Position in CDW Corp. (CDW)
Bank of Montreal Can acquired a new position in CDW Corp. (NASDAQ:CDW) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 359,358 shares of the company’s stock, valued at approximately $14,403,000. Bank of Montreal Can owned approximately 0.22% of CDW Corp. as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of the company. Zebra Capital Management LLC increased its position in shares of CDW Corp. by 30.5% in the first quarter. Zebra Capital Management LLC now owns 23,208 shares of the company’s stock valued at $963,000 after buying an additional 5,418 shares during the last quarter. BB&T Securities LLC increased its position in shares of CDW Corp. by 311.2% in the first quarter. BB&T Securities LLC now owns 135,998 shares of the company’s stock valued at $5,643,000 after buying an additional 102,925 shares during the last quarter. Spark Investment Management LLC increased its position in shares of CDW Corp. by 658.1% in the first quarter. Spark Investment Management LLC now owns 47,000 shares of the company’s stock valued at $1,950,000 after buying an additional 40,800 shares during the last quarter. LVW Advisors LLC bought a new position in shares of CDW Corp. during the first quarter valued at approximately $203,000. Finally, Bessemer Group Inc. increased its position in shares of CDW Corp. by 1.7% in the first quarter. Bessemer Group Inc. now owns 1,622,042 shares of the company’s stock valued at $67,313,000 after buying an additional 26,588 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.
Shares of CDW Corp. (NASDAQ:CDW) traded up 0.97% during mid-day trading on Friday, reaching $45.73. The company’s stock had a trading volume of 772,469 shares. The company has a 50-day moving average of $45.05 and a 200-day moving average of $42.54. CDW Corp. has a 12 month low of $30.40 and a 12 month high of $47.50. The company has a market cap of $7.47 billion, a P/E ratio of 17.76 and a beta of 0.95.
CDW Corp. (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.08. CDW Corp. had a return on equity of 46.02% and a net margin of 3.18%. The firm had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.65 billion. During the same period last year, the firm earned $0.81 earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. Equities research analysts forecast that CDW Corp. will post $3.32 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Thursday, August 25th were paid a $0.1075 dividend. The ex-dividend date of this dividend was Tuesday, August 23rd. This represents a $0.43 annualized dividend and a dividend yield of 0.94%. CDW Corp.’s payout ratio is presently 16.80%.
A number of brokerages have recently issued reports on CDW. Deutsche Bank AG boosted their price objective on CDW Corp. from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Barclays PLC reissued an “overweight” rating and issued a $47.00 price objective on shares of CDW Corp. in a research note on Friday, July 1st. Zacks Investment Research raised CDW Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, June 22nd. RBC Capital Markets reissued an “outperform” rating and issued a $48.00 price objective (up from $46.00) on shares of CDW Corp. in a research note on Thursday, August 4th. Finally, Raymond James Financial Inc. reissued a “market perform” rating on shares of CDW Corp. in a research note on Tuesday, August 2nd. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $46.09.
CDW Corp. Company Profile
CDW Corporation (CDW) provides integrated information technology (IT) solutions. The Company’s segments include Corporate, Public and Other. The Corporate segment consists of private sector business customers. The Corporate segment is divided into a medium/large business customer channel, serving customers with approximately 100 employees and a small business customer channel, serving customers with over 100 employees.
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