Chartwell Investment Partners LLC raised its holdings in CDW (NASDAQ:CDW) by 5.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,913 shares of the information technology services provider’s stock after purchasing an additional 2,177 shares during the quarter. Chartwell Investment Partners LLC’s holdings in CDW were worth $4,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also made changes to their positions in the company. Ellevest Inc. boosted its holdings in shares of CDW by 77.0% in the 1st quarter. Ellevest Inc. now owns 430 shares of the information technology services provider’s stock worth $40,000 after buying an additional 187 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in CDW in the first quarter valued at about $65,000. CSat Investment Advisory L.P. grew its position in shares of CDW by 43.8% during the 1st quarter. CSat Investment Advisory L.P. now owns 755 shares of the information technology services provider’s stock valued at $71,000 after acquiring an additional 230 shares during the period. FDx Advisors Inc. increased its stake in shares of CDW by 90.6% during the 1st quarter. FDx Advisors Inc. now owns 25,658 shares of the information technology services provider’s stock worth $82,000 after purchasing an additional 12,199 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in shares of CDW by 103.7% in the 4th quarter. Quadrant Capital Group LLC now owns 658 shares of the information technology services provider’s stock worth $87,000 after purchasing an additional 335 shares during the period. 90.22% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have issued reports on CDW. Morgan Stanley upgraded CDW from an “underweight” rating to an “equal weight” rating and set a $120.00 target price on the stock in a research note on Tuesday, June 9th. Zacks Investment Research cut CDW from a “hold” rating to a “sell” rating and set a $110.00 price objective on the stock. in a research note on Tuesday, May 12th. JPMorgan Chase & Co. lowered shares of CDW from a “neutral” rating to an “underweight” rating and set a $115.00 target price for the company. in a research report on Tuesday, June 9th. They noted that the move was a valuation call. Raymond James upgraded shares of CDW from a “market perform” rating to an “outperform” rating and set a $140.00 target price for the company in a research note on Monday, June 29th. Finally, Credit Suisse Group dropped their price target on shares of CDW from $155.00 to $127.00 and set an “outperform” rating on the stock in a research note on Friday, April 17th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. CDW currently has a consensus rating of “Hold” and a consensus price target of $125.88.
CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, May 6th. The information technology services provider reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.04. CDW had a net margin of 4.07% and a return on equity of 97.93%. The firm had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.38 billion. During the same period in the previous year, the business earned $1.24 EPS. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. Research analysts forecast that CDW will post 5.21 earnings per share for the current year.
In other CDW news, insider Douglas E. Eckrote sold 5,000 shares of CDW stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $106.97, for a total transaction of $534,850.00. Following the completion of the sale, the insider now directly owns 141,533 shares in the company, valued at $15,139,785.01. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Matthew A. Troka sold 7,001 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $100.99, for a total transaction of $707,030.99. Following the completion of the transaction, the insider now directly owns 67,492 shares of the company’s stock, valued at approximately $6,816,017.08. The disclosure for this sale can be found here. 1.33% of the stock is owned by insiders.
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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