19,367 Shares in CDW Corporation $CDW Acquired by Sawyer & Company Inc

Sawyer & Company Inc acquired a new position in CDW Corporation (NASDAQ:CDW) in the 3rd quarter, HoldingsChannel reports. The firm acquired 19,367 shares of the information technology services provider’s stock, valued at approximately $2,482,000.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of CDW during the second quarter valued at approximately $2,143,082,000. Pzena Investment Management LLC purchased a new position in CDW during the 2nd quarter valued at $371,135,000. Jupiter Topco LLC bought a new position in CDW in the 2nd quarter worth $300,073,000. Bank of America Corp DE bought a new position in CDW in the 2nd quarter worth $255,058,000. Finally, Assenagon Asset Management S.A. raised its holdings in CDW by 2,947.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,757,584 shares of the information technology services provider’s stock worth $225,252,000 after purchasing an additional 1,699,909 shares in the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Elizabeth Connelly sold 26,695 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $137.62, for a total transaction of $3,673,765.90. Following the completion of the transaction, the insider owned 34,215 shares of the company’s stock, valued at $4,708,668.30. This trade represents a 43.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.82% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CDW has been the subject of several research analyst reports. Citigroup raised their target price on shares of CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Barclays reduced their price target on shares of CDW from $150.00 to $148.00 and set an “equal weight” rating on the stock in a research report on Monday, September 21st. Weiss Ratings raised shares of CDW from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. Finally, Morgan Stanley raised their price objective on shares of CDW from $170.00 to $171.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. One equities 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 stock. Based on data from MarketBeat, CDW has a consensus rating of “Moderate Buy” and an average target price of $150.12.

CDW Stock Up 0.7%

NASDAQ:CDW traded up $1.03 during mid-day trading on Wednesday, hitting $156.03. 365,535 shares of the company’s stock were exchanged, compared to its average volume of 1,825,446. The company has a market cap of $19.51 billion, a PE ratio of 18.73, a P/E/G ratio of 2.00 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 Corporation has a one year low of $97.12 and a one year high of $161.10. The business has a fifty day moving average price of $143.43 and a 200 day moving average price of $134.35.

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

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Tuesday, August 25th were paid a $0.63 dividend. The ex-dividend date was Tuesday, August 25th. This represents a $2.52 annualized dividend and a dividend yield of 1.6%. CDW’s dividend payout ratio is presently 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.