Zions Bancorporation N.A. increased its stake in CDW Co. (NASDAQ:CDW – Get Rating) by 15.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,102 shares of the information technology services provider’s stock after purchasing an additional 934 shares during the period. Zions Bancorporation N.A.’s holdings in CDW were worth $1,270,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Denali Advisors LLC acquired a new position in shares of CDW in the first quarter valued at about $54,000. Quent Capital LLC acquired a new stake in shares of CDW during the first quarter worth about $56,000. Acadian Asset Management LLC purchased a new stake in CDW in the first quarter valued at approximately $103,000. Tobam acquired a new position in CDW in the 1st quarter worth approximately $113,000. Finally, Covestor Ltd purchased a new position in CDW during the 4th quarter worth approximately $118,000. 92.45% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
CDW has been the topic of several recent research reports. Evercore ISI dropped their price objective on shares of CDW from $250.00 to $210.00 and set an “outperform” rating on the stock in a report on Tuesday, June 28th. StockNews.com downgraded CDW from a “buy” rating to a “hold” rating in a research report on Tuesday, August 30th. JPMorgan Chase & Co. upgraded CDW from a “neutral” rating to an “overweight” rating and set a $200.00 price objective for the company in a research note on Thursday, July 14th. Finally, Credit Suisse Group initiated coverage on CDW in a research note on Tuesday, August 16th. They issued an “outperform” rating and a $202.00 target price on the stock. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $213.00.
CDW Trading Up 0.7 %
CDW (NASDAQ:CDW – Get Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The information technology services provider reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.05. The firm had revenue of $6.15 billion during the quarter, compared to analyst estimates of $6.15 billion. CDW had a return on equity of 132.68% and a net margin of 4.41%. CDW’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.92 EPS. As a group, equities analysts predict that CDW Co. will post 9.22 earnings per share for the current fiscal year.
CDW Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Thursday, August 25th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Wednesday, August 24th. CDW’s payout ratio is presently 27.21%.
CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise, hybrid, and cloud capabilities across data center and networking, digital workspace, and security.
- Get a free copy of the StockNews.com research report on CDW (CDW)
- Oil and Gas Stocks: A Safe Way to Invest in Renewable Energy
- Are These Green Energy Companies Right For Your Portfolio?
- When Will the Hangover Finally Be Over for Seagate Technology?
- Does Enphase Energy Have the Juice to Keep Powering Higher?
- The One Hydrogen Fuel Cell Stock To Rule Them All
Receive News & Ratings for CDW Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CDW and related companies with MarketBeat.com's FREE daily email newsletter.