Bessemer Group Inc. Has $1.83 Million Stock Position in CDW Corporation $CDW

Bessemer Group Inc. lessened its holdings in shares of CDW Corporation (NASDAQ:CDW) by 98.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,123 shares of the information technology services provider’s stock after selling 1,027,782 shares during the period. Bessemer Group Inc.’s holdings in CDW were worth $1,831,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Root Financial Partners LLC lifted its holdings in CDW by 54.7% during the 1st quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider’s stock worth $32,000 after buying an additional 93 shares during the period. eCIO Inc. bought a new position in shares of CDW during the fourth quarter worth about $61,000. Covestor Ltd lifted its stake in shares of CDW by 53.4% in the fourth quarter. Covestor Ltd now owns 741 shares of the information technology services provider’s stock worth $101,000 after acquiring an additional 258 shares during the period. American National Bank & Trust bought a new stake in CDW in the fourth quarter valued at approximately $110,000. Finally, Brown Brothers Harriman & Co. increased its position in CDW by 38.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 912 shares of the information technology services provider’s stock valued at $124,000 after purchasing an additional 254 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director David W. Nelms acquired 18,000 shares of the stock in a transaction dated Wednesday, May 27th. The stock was purchased at an average cost of $111.43 per share, with a total value of $2,005,740.00. Following the completion of the purchase, the director directly owned 51,025 shares in the company, valued at $5,685,715.75. This trade represents a 54.50% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

CDW has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upgraded shares of CDW from a “neutral” rating to an “overweight” rating and set a $130.00 price target on the stock in a research report on Wednesday, May 27th. Royal Bank Of Canada raised shares of CDW to an “outperform” rating and set a $130.00 target price for the company in a research note on Wednesday, May 27th. Citigroup boosted their target price on shares of CDW from $123.00 to $145.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Weiss Ratings upgraded CDW from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. Finally, UBS Group lowered their price objective on CDW from $162.00 to $147.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, CDW currently has an average rating of “Moderate Buy” and an average target price of $146.88.

CDW Price Performance

Shares of CDW opened at $129.83 on Thursday. The business’s fifty day moving average is $128.09 and its 200 day moving average is $126.87. CDW Corporation has a 12-month low of $97.12 and a 12-month high of $183.66. The company has a quick ratio of 1.06, a current ratio of 1.16 and a debt-to-equity ratio of 1.81. The stock has a market cap of $16.59 billion, a P/E ratio of 15.79, a P/E/G ratio of 1.72 and a beta of 0.97.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 EPS for the quarter, meeting analysts’ consensus estimates of $2.28. The business had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.48 billion. CDW had a net margin of 4.70% and a return on equity of 49.67%. CDW’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.15 EPS. Sell-side analysts anticipate that CDW Corporation will post 10.21 earnings per share for the current fiscal year.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Monday, May 25th were paid a dividend of $0.63 per share. The ex-dividend date was Friday, May 22nd. This represents a $2.52 dividend on an annualized basis and a yield of 1.9%. CDW’s payout ratio is 30.66%.

CDW Profile

CDW (NASDAQ: CDW) is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.

CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.