144,212 CDW Corporation $CDW Shares Bought by Phoenix Financial Ltd.

Phoenix Financial Ltd. increased its stake in CDW Corporation (NASDAQ:CDW) by 9,945.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 145,662 shares of the information technology services provider’s stock after acquiring an additional 144,212 shares during the period. Phoenix Financial Ltd. owned about 0.12% of CDW worth $18,668,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of CDW in the 2nd quarter worth approximately $2,143,082,000. Pzena Investment Management LLC boosted its stake in shares of CDW by 27.1% in the 3rd quarter. Pzena Investment Management LLC now owns 3,353,465 shares of the information technology services provider’s stock valued at $429,780,000 after purchasing an additional 714,565 shares in the last quarter. Jupiter Topco LLC bought a new position in shares of CDW during the 2nd quarter valued at $300,073,000. Alyeska Investment Group L.P. grew its holdings in shares of CDW by 197.1% during the 2nd quarter. Alyeska Investment Group L.P. now owns 1,854,952 shares of the information technology services provider’s stock valued at $260,880,000 after purchasing an additional 1,230,517 shares during the last quarter. Finally, Bank of America Corp DE bought a new position in shares of CDW during the 2nd quarter valued at $255,058,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Barclays lowered their price target on shares of CDW from $150.00 to $148.00 and set an “equal weight” rating for the company in a research note on Monday, September 21st. Weiss Ratings raised CDW from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. Morgan Stanley raised their price objective on CDW from $170.00 to $171.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. UBS Group lifted their price objective on CDW from $159.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, November 5th. Finally, Citigroup boosted their target price on CDW from $150.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday, November 5th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, CDW presently has an average rating of “Moderate Buy” and a consensus target price of $167.38.

CDW Trading Down 0.7%

Shares of CDW stock traded down $1.14 on Friday, hitting $171.65. The stock had a trading volume of 1,509,339 shares, compared to its average volume of 1,694,941. The company has a quick ratio of 1.15, a current ratio of 1.26 and a debt-to-equity ratio of 2.32. CDW Corporation has a one year low of $97.12 and a one year high of $175.19. The stock has a market cap of $21.42 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 1.52 and a beta of 0.92. The stock’s 50-day simple moving average is $150.72 and its two-hundred day simple moving average is $134.84.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, November 4th. The information technology services provider reported $3.26 EPS for the quarter, topping the consensus estimate of $2.98 by $0.28. The company had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.19 billion. CDW had a net margin of 4.48% and a return on equity of 52.23%. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.71 earnings per share. As a group, sell-side analysts predict that CDW Corporation will post 10.38 EPS for the current year.

CDW Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 25th will be given a $0.68 dividend. The ex-dividend date is Wednesday, November 25th. This is a positive change from CDW’s previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.6%. CDW’s dividend payout ratio is presently 29.40%.

CDW Profile

CDW Corporation is a provider of information technology products and services to businesses, government agencies, educational institutions and healthcare organizations. The company helps customers select, purchase, implement and manage technology solutions. Its offerings include computers and other hardware, software, cloud services, cybersecurity, networking, data center infrastructure and collaboration tools. CDW also provides consulting, integration and ongoing technology support, helping customers plan and operate their IT environments.