Beacon Harbor Wealth Advisors Inc. Acquires New Shares in CDW (NASDAQ:CDW)

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Beacon Harbor Wealth Advisors Inc. acquired a new stake in CDW (NASDAQ:CDW) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 19,032 shares of the information technology services provider’s stock, valued at approximately $2,348,000. CDW makes up 1.5% of Beacon Harbor Wealth Advisors Inc.’s investment portfolio, making the stock its 23rd largest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. North Star Investment Management Corp. purchased a new position in CDW in the 3rd quarter valued at approximately $26,000. Johnson Financial Group Inc. purchased a new position in CDW in the 2nd quarter valued at approximately $28,000. CSat Investment Advisory L.P. purchased a new position in CDW in the 2nd quarter valued at approximately $28,000. Berman Capital Advisors LLC increased its stake in CDW by 166.3% in the 2nd quarter. Berman Capital Advisors LLC now owns 277 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 173 shares in the last quarter. Finally, Cullen Frost Bankers Inc. increased its stake in CDW by 478.4% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 295 shares of the information technology services provider’s stock valued at $33,000 after purchasing an additional 244 shares in the last quarter. 91.54% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Neil B. Fairfield sold 2,118 shares of the firm’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 sale, the insider now owns 7,054 shares in the company, valued at $833,218.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas E. Richards sold 56,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $123.68, for a total value of $6,926,080.00. Following the sale, the insider now owns 633,776 shares in the company, valued at approximately $78,385,415.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 185,373 shares of company stock worth $21,519,610. 2.25% of the stock is owned by insiders.

Shares of NASDAQ:CDW opened at $123.61 on Friday. The business’s fifty day moving average price is $119.16 and its two-hundred day moving average price is $110.90. The stock has a market cap of $17.85 billion, a PE ratio of 24.24, a price-to-earnings-growth ratio of 1.68 and a beta of 1.09. The company has a debt-to-equity ratio of 3.57, a quick ratio of 1.09 and a current ratio of 1.28. CDW has a one year low of $74.32 and a one year high of $125.41.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, July 31st. The information technology services provider reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.10. The firm had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.50 billion. CDW had a return on equity of 82.78% and a net margin of 4.07%. CDW’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.38 EPS. As a group, equities research analysts predict that CDW will post 5.62 earnings per share for the current fiscal year.

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. cut CDW from a “neutral” rating to an “underweight” rating and set a $116.00 target price on the stock. in a report on Monday, August 5th. They noted that the move was a valuation call. BidaskClub upgraded CDW from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 1st. Zacks Investment Research upgraded CDW from a “hold” rating to a “strong-buy” rating and set a $113.00 target price on the stock in a report on Tuesday, August 6th. Credit Suisse Group increased their target price on CDW from $118.00 to $132.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, ValuEngine cut CDW from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. CDW has a consensus rating of “Buy” and an average price target of $118.13.

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.

Further Reading: Treasury Bonds

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Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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