Rice Hall James & Associates LLC Sells 405 Shares of CDW (NASDAQ:CDW)

Rice Hall James & Associates LLC reduced its position in CDW (NASDAQ:CDW) by 2.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,919 shares of the information technology services provider’s stock after selling 405 shares during the quarter. Rice Hall James & Associates LLC’s holdings in CDW were worth $2,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Sunbelt Securities Inc. purchased a new stake in shares of CDW in the second quarter valued at $478,000. Advisory Services Network LLC raised its stake in shares of CDW by 774.4% in the second quarter. Advisory Services Network LLC now owns 2,562 shares of the information technology services provider’s stock valued at $285,000 after acquiring an additional 2,269 shares during the period. Wedbush Securities Inc. purchased a new stake in shares of CDW in the second quarter valued at $218,000. CIBC Private Wealth Group LLC raised its stake in shares of CDW by 13,085.8% in the second quarter. CIBC Private Wealth Group LLC now owns 553,143 shares of the information technology services provider’s stock valued at $61,399,000 after acquiring an additional 548,948 shares during the period. Finally, Janus Henderson Group PLC raised its stake in shares of CDW by 4.1% in the second quarter. Janus Henderson Group PLC now owns 1,194,595 shares of the information technology services provider’s stock valued at $132,616,000 after acquiring an additional 46,764 shares during the period. Institutional investors and hedge funds own 93.57% of the company’s stock.

Several equities research analysts have recently weighed in on CDW shares. Northcoast Research downgraded shares of CDW from a “buy” rating to a “neutral” rating in a research note on Friday, April 26th. They noted that the move was a valuation call. Bank of America started coverage on shares of CDW in a research note on Tuesday, July 30th. They issued a “buy” rating and a $140.00 target price on the stock. Credit Suisse Group increased their target price on shares of CDW from $118.00 to $132.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. downgraded shares of CDW from a “neutral” rating to an “underweight” rating and set a $116.00 target price on the stock. in a research note on Monday, August 5th. They noted that the move was a valuation call. Finally, Deutsche Bank started coverage on shares of CDW in a research note on Tuesday, June 11th. They issued a “buy” rating and a $113.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $118.13.

CDW stock traded up $2.76 during midday trading on Friday, hitting $111.48. 10,508 shares of the company’s stock were exchanged, compared to its average volume of 803,607. 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 12 month low of $74.32 and a 12 month high of $120.82. The firm has a 50-day moving average of $113.27 and a two-hundred day moving average of $103.47. The company has a market cap of $16.40 billion, a PE ratio of 21.65, a P/E/G ratio of 1.54 and a beta of 1.10.

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

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th will be issued a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 1.06%. The ex-dividend date is Friday, August 23rd. CDW’s payout ratio is 23.14%.

In other news, insider Thomas E. Richards sold 66,667 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $105.31, for a total value of $7,020,701.77. Following the sale, the insider now directly owns 644,443 shares in the company, valued at approximately $67,866,292.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas E. Richards sold 62,222 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $113.66, for a total transaction of $7,072,152.52. Following the completion of the sale, the insider now owns 639,998 shares in the company, valued at $72,742,172.68. The disclosure for this sale can be found here. Insiders sold a total of 203,074 shares of company stock worth $21,578,855 over the last 90 days. Company insiders own 2.25% of the company’s stock.

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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