Bessemer Group Inc. Trims Position in CDW Corporation $CDW

Bessemer Group Inc. lessened its holdings in shares of CDW Corporation (NASDAQ:CDW) by 8.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,042,905 shares of the information technology services provider’s stock after selling 101,315 shares during the quarter. Bessemer Group Inc. owned approximately 0.80% of CDW worth $142,043,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Legacy Financial Advisors Inc. purchased a new position in shares of CDW during the 4th quarter worth $436,000. ABC Arbitrage SA purchased a new position in shares of CDW during the 4th quarter worth $257,000. Manning & Napier Advisors LLC lifted its stake in shares of CDW by 6.7% during the 4th quarter. Manning & Napier Advisors LLC now owns 19,891 shares of the information technology services provider’s stock worth $2,753,000 after purchasing an additional 1,256 shares during the period. Crestwood Advisors Group LLC purchased a new position in shares of CDW during the 4th quarter worth $260,000. Finally, Fenimore Asset Management Inc lifted its stake in shares of CDW by 0.8% during the 4th quarter. Fenimore Asset Management Inc now owns 1,150,567 shares of the information technology services provider’s stock worth $156,707,000 after purchasing an additional 9,485 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Trading Down 0.1%

NASDAQ:CDW opened at $102.07 on Friday. The business’s 50-day moving average is $122.39 and its two-hundred day moving average is $132.10. The firm has a market capitalization of $13.04 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 1.38 and a beta of 1.04. CDW Corporation has a 12 month low of $97.12 and a 12 month high of $189.45. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.16 and a quick ratio of 1.06.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 earnings per share for the quarter, hitting the consensus estimate of $2.28. CDW had a return on equity of 49.67% and a net margin of 4.70%.The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.48 billion. During the same quarter in the prior year, the business earned $2.15 earnings per share. The company’s revenue was up 9.2% compared to the same quarter last year. Research analysts predict that CDW Corporation will post 10.01 earnings per share for the current fiscal year.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Monday, May 25th will be given a $0.63 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $2.52 annualized dividend and a dividend yield of 2.5%. CDW’s dividend payout ratio is presently 30.66%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CDW. UBS Group dropped their price objective on CDW from $162.00 to $147.00 and set a “buy” rating for the company in a report on Thursday, May 7th. JPMorgan Chase & Co. dropped their price objective on CDW from $160.00 to $130.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Morgan Stanley upped their price objective on CDW from $141.00 to $142.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. Barclays dropped their price objective on CDW from $144.00 to $123.00 and set an “equal weight” rating for the company in a report on Thursday, May 7th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of CDW in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.14.

CDW Company Profile

CDW (NASDAQ: CDW) is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.

CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.