Macquarie Group Ltd. Reduces Stake in CDW (CDW)

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Macquarie Group Ltd. lowered its stake in CDW (NASDAQ:CDW) by 9.8% in the fourth quarter, Holdings Channel reports. The fund owned 4,600 shares of the information technology services provider’s stock after selling 500 shares during the quarter. Macquarie Group Ltd.’s holdings in CDW were worth $372,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CDW. WMS Partners LLC acquired a new stake in CDW during the 4th quarter valued at approximately $309,000. National Pension Service increased its position in CDW by 6.2% during the 4th quarter. National Pension Service now owns 200,753 shares of the information technology services provider’s stock valued at $18,841,000 after purchasing an additional 11,746 shares during the period. Hancock Whitney Corp increased its position in CDW by 44.1% during the 4th quarter. Hancock Whitney Corp now owns 34,158 shares of the information technology services provider’s stock valued at $2,768,000 after purchasing an additional 10,461 shares during the period. HM Payson & Co. acquired a new stake in CDW during the 4th quarter valued at approximately $269,000. Finally, Legal & General Group Plc increased its position in CDW by 7.2% during the 4th quarter. Legal & General Group Plc now owns 729,533 shares of the information technology services provider’s stock valued at $59,128,000 after purchasing an additional 49,122 shares during the period. 91.77% of the stock is owned by hedge funds and other institutional investors.

CDW has been the subject of a number of recent analyst reports. BidaskClub downgraded shares of CDW from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 5th. ValuEngine raised shares of CDW from a “hold” rating to a “buy” rating in a research report on Wednesday, February 13th. Zacks Investment Research downgraded shares of CDW from a “buy” rating to a “hold” rating in a research report on Tuesday, January 1st. Finally, Credit Suisse Group initiated coverage on shares of CDW in a research report on Thursday. They set an “outperform” rating and a $117.00 target price for the company. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $97.17.

In other CDW news, insider Thomas E. Richards sold 18,750 shares of the stock in a transaction that occurred on Tuesday, January 15th. The stock was sold at an average price of $79.95, for a total transaction of $1,499,062.50. Following the transaction, the insider now directly owns 596,525 shares in the company, valued at approximately $47,692,173.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christina M. Corley sold 3,567 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $96.70, for a total value of $344,928.90. Following the transaction, the insider now owns 643,052 shares in the company, valued at $62,183,128.40. The disclosure for this sale can be found here. Insiders have sold a total of 101,577 shares of company stock worth $9,062,099 over the last 90 days. Company insiders own 2.60% of the company’s stock.

CDW stock opened at $107.00 on Monday. The company has a market cap of $15.71 billion, a price-to-earnings ratio of 20.98 and a beta of 1.05. CDW has a 52-week low of $69.05 and a 52-week high of $107.26. The company has a current ratio of 1.35, a quick ratio of 1.19 and a debt-to-equity ratio of 3.26.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Thursday, February 7th. The information technology services provider reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.11. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.04 billion. CDW had a return on equity of 74.63% and a net margin of 3.96%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.99 EPS. As a group, sell-side analysts forecast that CDW will post 5.43 EPS for the current year.

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CDW Profile

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.

Further Reading: What is a balanced fund?

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Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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