CDW Corporation $CDW Stake Lowered by Mondrian Investment Partners LTD

Mondrian Investment Partners LTD trimmed its holdings in shares of CDW Corporation (NASDAQ:CDW) by 47.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 398,302 shares of the information technology services provider’s stock after selling 356,839 shares during the period. Mondrian Investment Partners LTD’s holdings in CDW were worth $51,046,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Kendall Capital Management acquired a new stake in CDW during the 2nd quarter worth $3,584,000. Man Group plc bought a new stake in shares of CDW during the 2nd quarter valued at $1,262,000. Pzena Investment Management LLC bought a new stake in shares of CDW during the 2nd quarter valued at $371,135,000. Raiffeisen Bank International AG raised its position in shares of CDW by 17,453.5% during the 2nd quarter. Raiffeisen Bank International AG now owns 15,096 shares of the information technology services provider’s stock valued at $2,111,000 after acquiring an additional 15,010 shares during the last quarter. Finally, Jupiter Topco LLC acquired a new position in shares of CDW in the 2nd quarter valued at $300,073,000. 93.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CDW has been the topic of several recent research reports. Citigroup raised their price target on CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Barclays decreased their price objective on CDW from $150.00 to $148.00 and set an “equal weight” rating for the company in a research note on Monday, September 21st. Morgan Stanley upped their price objective on CDW from $170.00 to $171.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Finally, Weiss Ratings raised CDW from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, CDW currently has an average rating of “Moderate Buy” and an average target price of $150.12.

Insiders Place Their Bets

In other news, insider Elizabeth Connelly sold 26,695 shares of CDW stock in a transaction on Friday, August 7th. The shares were sold at an average price of $137.62, for a total transaction of $3,673,765.90. Following the transaction, the insider directly owned 34,215 shares of the company’s stock, valued at $4,708,668.30. This trade represents a 43.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.82% of the company’s stock.

CDW Stock Performance

Shares of NASDAQ:CDW opened at $165.11 on Friday. The firm’s 50 day simple moving average is $144.83 and its 200 day simple moving average is $135.12. CDW Corporation has a fifty-two week low of $97.12 and a fifty-two week high of $166.15. The company has a market capitalization of $20.64 billion, a price-to-earnings ratio of 19.84, a P/E/G ratio of 2.16 and a beta of 0.95. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.17 and a quick ratio of 1.05.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.11. The firm had revenue of $6.57 billion during the quarter, compared to analysts’ expectations of $6.21 billion. CDW had a net margin of 4.60% and a return on equity of 50.61%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.60 earnings per share. As a group, sell-side analysts forecast that CDW Corporation will post 10.33 earnings per share for the current year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th were issued a $0.63 dividend. The ex-dividend date was Tuesday, August 25th. This represents a $2.52 annualized dividend and a yield of 1.5%. CDW’s dividend payout ratio (DPR) is 30.29%.

CDW Profile

CDW Corporation (NASDAQ: CDW) is a provider of technology products and services for business, government, education and healthcare organizations. The company helps customers plan, procure, implement and manage information technology solutions from leading hardware, software and cloud vendors.

Its offerings include computers, servers, networking equipment, data-storage systems, cybersecurity products, collaboration tools, software licensing and cloud solutions. CDW also provides professional and managed services, including technology consulting, infrastructure deployment, cloud management, security support and lifecycle services.

Founded in 1984 as Computer Discount Warehouse, CDW serves customers primarily in the United States, Canada and the United Kingdom through sales teams, digital channels and technology partnerships.