CDW Corporation $CDW Shares Acquired by Pacer Advisors Inc.

Pacer Advisors Inc. increased its position in shares of CDW Corporation (NASDAQ:CDW) by 5,081.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 549,247 shares of the information technology services provider’s stock after buying an additional 538,646 shares during the period. Pacer Advisors Inc.’s holdings in CDW were worth $66,470,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Hollencrest Capital Management boosted its position in CDW by 909.1% in the 1st quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 200 shares during the last quarter. Root Financial Partners LLC increased its position in shares of CDW by 54.7% during the first quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider’s stock worth $32,000 after acquiring an additional 93 shares during the last quarter. eCIO Inc. purchased a new stake 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 in the last quarter. Finally, American National Bank & Trust acquired a new position in shares of CDW in the fourth quarter worth about $110,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Price Performance

Shares of CDW stock opened at $147.81 on Monday. The business has a 50-day moving average price of $133.10 and a 200 day moving average price of $127.27. CDW Corporation has a fifty-two week low of $97.12 and a fifty-two week high of $179.27. The firm has a market cap of $18.88 billion, a P/E ratio of 17.98, a P/E/G ratio of 1.96 and a beta of 0.96. The company has a quick ratio of 1.06, a current ratio of 1.16 and a debt-to-equity ratio of 1.81.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 EPS for the quarter, hitting analysts’ consensus estimates of $2.28. CDW had a return on equity of 49.67% and a net margin of 4.70%.The company had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.48 billion. During the same quarter last year, the business posted $2.15 EPS. CDW’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, sell-side analysts forecast that CDW Corporation will post 10.21 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Monday, May 25th were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, May 22nd. CDW’s payout ratio is currently 30.66%.

Insiders Place Their Bets

In other CDW news, Director David W. Nelms bought 18,000 shares of the stock in a transaction on Wednesday, May 27th. The stock was purchased at an average price of $111.43 per share, for a total transaction of $2,005,740.00. Following the completion of the purchase, the director directly owned 51,025 shares in the company, valued at approximately $5,685,715.75. This trade represents a 54.50% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.82% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CDW has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised CDW from a “neutral” rating to an “overweight” rating and set a $130.00 price target for the company in a report on Wednesday, May 27th. Morgan Stanley raised CDW from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $142.00 to $170.00 in a research report on Tuesday, June 23rd. Raymond James Financial set a $150.00 target price on CDW in a research note on Wednesday, May 6th. UBS Group decreased their price target on shares of CDW from $162.00 to $147.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Finally, Weiss Ratings upgraded shares of CDW from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $146.88.

CDW Company 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.