CDW Corporation $CDW Stake Raised by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. lifted its holdings in shares of CDW Corporation (NASDAQ:CDW) by 75.4% in the third quarter, Holdings Channel.com reports. The fund owned 142,560 shares of the information technology services provider’s stock after purchasing an additional 61,280 shares during the period. Crossmark Global Holdings Inc.’s holdings in CDW were worth $18,270,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Kendall Capital Management purchased a new stake in CDW in the second quarter worth about $3,584,000. Man Group plc bought a new stake in shares of CDW during the 2nd quarter valued at $1,262,000. Pzena Investment Management LLC bought a new position in shares of CDW in the 2nd quarter worth about $371,135,000. Raiffeisen Bank International AG increased its stake in shares of CDW by 17,453.5% during the second quarter. Raiffeisen Bank International AG now owns 15,096 shares of the information technology services provider’s stock valued at $2,111,000 after purchasing an additional 15,010 shares in the last quarter. Finally, Jupiter Topco LLC bought a new stake in shares of CDW in the 2nd quarter worth approximately $300,073,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Barclays lowered their price objective on 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 shares of CDW from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. Citigroup raised their price target on shares of CDW from $123.00 to $145.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Finally, Morgan Stanley boosted their price target on CDW from $170.00 to $171.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. One 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. Based on data from MarketBeat, CDW presently has a consensus rating of “Moderate Buy” and an average target price of $150.12.

Insider Buying and Selling

In other news, insider Elizabeth Connelly sold 26,695 shares of CDW stock in a transaction that occurred on 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 sale, the insider owned 34,215 shares in the company, valued at $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 available at the SEC website. Corporate insiders own 0.82% of the company’s stock.

CDW Trading Up 2.1%

Shares of CDW stock opened at $158.28 on Thursday. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.17 and a quick ratio of 1.05. The company has a market cap of $19.79 billion, a price-to-earnings ratio of 19.02, a PEG ratio of 2.03 and a beta of 0.95. CDW Corporation has a 1 year low of $97.12 and a 1 year high of $161.10. The firm has a fifty day moving average price of $143.86 and a 200-day moving average price of $134.61.

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

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Tuesday, August 25th were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, August 25th. CDW’s dividend payout ratio (DPR) is 30.29%.

About CDW

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.