CDW (NASDAQ:CDW) Holdings Cut by OppenheimerFunds Inc.

OppenheimerFunds Inc. trimmed its position in shares of CDW (NASDAQ:CDW) by 18.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 389,366 shares of the information technology services provider’s stock after selling 89,440 shares during the period. OppenheimerFunds Inc.’s holdings in CDW were worth $37,523,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Ffcm LLC acquired a new position in CDW in the fourth quarter worth about $28,000. Bronfman E.L. Rothschild L.P. raised its position in CDW by 218.2% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 350 shares of the information technology services provider’s stock worth $28,000 after purchasing an additional 240 shares in the last quarter. PRW Wealth Management LLC acquired a new position in CDW in the fourth quarter worth about $30,000. Semmax Financial Advisors Inc. acquired a new position in CDW in the fourth quarter worth about $34,000. Finally, Daiwa SB Investments Ltd. acquired a new position in CDW in the first quarter worth about $47,000. Institutional investors own 90.77% of the company’s stock.

CDW has been the subject of several recent research reports. BidaskClub lowered shares of CDW from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 23rd. ValuEngine raised shares of CDW from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th. Credit Suisse Group assumed coverage on shares of CDW in a report on Thursday, April 11th. They set an “outperform” rating and a $117.00 price objective for the company. Zacks Investment Research raised shares of CDW from a “hold” rating to a “strong-buy” rating and set a $125.00 price objective for the company in a report on Tuesday, May 7th. Finally, Deutsche Bank assumed coverage on shares of CDW in a report on Tuesday. They set a “buy” rating and a $113.00 price objective for the company. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $107.75.

In other news, insider Thomas E. Richards sold 66,667 shares of CDW stock in a transaction on Friday, May 31st. The shares were sold at an average price of $99.67, for a total transaction of $6,644,699.89. Following the transaction, the insider now directly owns 644,443 shares of the company’s stock, valued at $64,231,633.81. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Collin B. Kebo sold 3,600 shares of CDW stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $106.28, for a total transaction of $382,608.00. Following the transaction, the insider now directly owns 22,352 shares in the company, valued at $2,375,570.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 88,203 shares of company stock worth $8,913,129. Insiders own 2.25% of the company’s stock.

CDW stock traded down $0.48 during midday trading on Wednesday, reaching $105.37. The company’s stock had a trading volume of 6,038 shares, compared to its average volume of 780,380. CDW has a 52 week low of $74.32 and a 52 week high of $111.59. The stock has a market cap of $15.46 billion, a PE ratio of 20.65 and a beta of 1.08. The company has a debt-to-equity ratio of 3.61, a quick ratio of 1.10 and a current ratio of 1.29.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, May 1st. The information technology services provider reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.13. CDW had a net margin of 4.03% and a return on equity of 77.94%. The firm had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same period last year, the firm earned $1.05 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, sell-side analysts predict that CDW will post 5.54 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th were paid a $0.295 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.18 dividend on an annualized basis and a yield of 1.12%. CDW’s payout ratio is presently 23.14%.

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About CDW

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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Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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