CDW Corp. (CDW) Shares Bought by Great West Life Assurance Co. Can
Great West Life Assurance Co. Can raised its stake in CDW Corp. (NASDAQ:CDW) by 3.3% during the third quarter, according to its most recent filing with the SEC. The fund owned 40,807 shares of the company’s stock after buying an additional 1,300 shares during the period. Great West Life Assurance Co. Can’s holdings in CDW Corp. were worth $1,866,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Henderson Group PLC boosted its position in shares of CDW Corp. by 73.5% in the third quarter. Henderson Group PLC now owns 1,023,056 shares of the company’s stock valued at $46,795,000 after buying an additional 433,338 shares in the last quarter. Bank of Montreal Can boosted its position in shares of CDW Corp. by 11.0% in the third quarter. Bank of Montreal Can now owns 398,898 shares of the company’s stock worth $18,241,000 after buying an additional 39,540 shares during the period. Highland Capital Management LLC boosted its position in shares of CDW Corp. by 0.9% in the third quarter. Highland Capital Management LLC now owns 22,912 shares of the company’s stock worth $1,048,000 after buying an additional 208 shares during the period. Capstone Asset Management Co. boosted its position in shares of CDW Corp. by 1.7% in the third quarter. Capstone Asset Management Co. now owns 85,886 shares of the company’s stock worth $3,928,000 after buying an additional 1,398 shares during the period. Finally, Fenimore Asset Management Inc. boosted its position in shares of CDW Corp. by 0.5% in the third quarter. Fenimore Asset Management Inc. now owns 2,007,101 shares of the company’s stock worth $91,785,000 after buying an additional 9,625 shares during the period. 92.14% of the stock is currently owned by institutional investors.
Shares of CDW Corp. (NASDAQ:CDW) traded down 0.27% during trading on Monday, hitting $51.70. 758,970 shares of the stock were exchanged. The firm has a market capitalization of $8.30 billion, a price-to-earnings ratio of 21.03 and a beta of 0.96. CDW Corp. has a 52 week low of $30.40 and a 52 week high of $52.30. The stock’s 50 day moving average price is $46.43 and its 200 day moving average price is $44.05.
CDW Corp. (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.07. The company had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.50 billion. CDW Corp. had a net margin of 2.95% and a return on equity of 50.73%. CDW Corp.’s revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.84 EPS. On average, equities analysts predict that CDW Corp. will post $3.38 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Friday, November 25th will be paid a dividend of $0.16 per share. This is a boost from CDW Corp.’s previous quarterly dividend of $0.11. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Tuesday, November 22nd. CDW Corp.’s dividend payout ratio is presently 26.23%.
A number of research analysts recently issued reports on CDW shares. RBC Capital Markets reissued a “buy” rating and issued a $48.00 price objective on shares of CDW Corp. in a research note on Friday, September 16th. Zacks Investment Research cut shares of CDW Corp. from a “buy” rating to a “hold” rating in a research note on Friday, November 4th. Robert W. Baird reissued a “hold” rating on shares of CDW Corp. in a research note on Wednesday, November 2nd. Royal Bank Of Canada lifted their price objective on shares of CDW Corp. from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Wednesday, November 16th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and issued a $50.00 price objective on shares of CDW Corp. in a research note on Thursday, November 3rd. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. CDW Corp. currently has a consensus rating of “Buy” and an average target price of $48.88.
In related news, insider Douglas E. Eckrote sold 80,000 shares of the company’s stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $44.04, for a total transaction of $3,523,200.00. Following the sale, the insider now directly owns 179,089 shares in the company, valued at approximately $7,887,079.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.20% of the company’s stock.
About CDW Corp.
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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