Commerce Bank Invests $1.51 Million in CDW Corporation $CDW

Commerce Bank acquired a new stake in CDW Corporation (NASDAQ:CDW) in the 2nd quarter, Holdings Channel reports. The firm acquired 10,726 shares of the information technology services provider’s stock, valued at approximately $1,509,000.

A number of other institutional investors also recently modified their holdings of CDW. Hollencrest Capital Management boosted its stake in CDW by 909.1% during the first quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 200 shares in the last quarter. Allied Private Wealth LLC bought a new stake in CDW in the second quarter valued at $28,000. Keating Financial Advisory Services Inc. bought a new stake in CDW in the second quarter valued at $28,000. Root Financial Partners LLC increased its stake in CDW by 54.7% in the first quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 93 shares in the last quarter. Finally, Johnson Financial Group Inc. acquired a new position in shares of CDW during the second quarter valued at about $51,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

Insiders Place Their Bets

In related news, insider Elizabeth H. Connelly sold 26,695 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider owned 34,215 shares in the company, valued at approximately $4,708,668.30. This trade represents a 43.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.82% of the company’s stock.

CDW Stock Performance

Shares of CDW opened at $142.09 on Wednesday. The stock has a 50 day moving average of $136.63 and a 200 day moving average of $128.48. The company has a market capitalization of $17.76 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 1.74 and a beta of 0.96. CDW Corporation has a 12 month low of $97.12 and a 12 month high of $171.55. The company has a current ratio of 1.17, a quick ratio of 1.05 and a debt-to-equity ratio of 1.97.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.11. CDW had a return on equity of 50.61% and a net margin of 4.60%.The business had revenue of $6.57 billion for the quarter, compared to analysts’ expectations of $6.21 billion. During the same quarter in the previous year, the firm earned $2.60 earnings per share. The business’s revenue was up 10.0% on a year-over-year basis. As a group, sell-side analysts forecast that CDW Corporation will post 10.28 earnings per share for the current year.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Tuesday, August 25th will be given a dividend of $0.63 per share. The ex-dividend date is Tuesday, August 25th. This represents a $2.52 annualized dividend and a yield of 1.8%. CDW’s dividend payout ratio is presently 30.29%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CDW shares. Raymond James Financial set a $150.00 price objective on shares of CDW in a research report on Wednesday, May 6th. Barclays dropped their price target on shares of CDW from $144.00 to $123.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 7th. UBS Group cut their price objective on shares of CDW from $162.00 to $147.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Weiss Ratings upgraded shares of CDW from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. Finally, JPMorgan Chase & Co. upgraded shares of CDW from a “neutral” rating to an “overweight” rating and set a $130.00 target price for the company in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $147.00.

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.