CDW Corporation $CDW Shares Acquired by Diversify Advisory Services LLC

Diversify Advisory Services LLC lifted its holdings in CDW Corporation (NASDAQ:CDW) by 88.3% during the 3rd quarter, Holdings Channel reports. The fund owned 19,576 shares of the information technology services provider’s stock after acquiring an additional 9,179 shares during the quarter. Diversify Advisory Services LLC’s holdings in CDW were worth $2,301,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CDW. Parkside Financial Bank & Trust raised its holdings in shares of CDW by 48.1% in the second quarter. Parkside Financial Bank & Trust now owns 268 shares of the information technology services provider’s stock valued at $38,000 after buying an additional 87 shares during the last quarter. V Square Quantitative Management LLC grew its holdings in CDW by 2.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,252 shares of the information technology services provider’s stock worth $417,000 after acquiring an additional 89 shares during the last quarter. Root Financial Partners LLC grew its holdings in CDW by 54.7% during the 1st 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. CX Institutional increased its position in CDW by 4.0% in the 3rd quarter. CX Institutional now owns 2,585 shares of the information technology services provider’s stock valued at $331,000 after acquiring an additional 99 shares in the last quarter. Finally, Studio Investment Management LLC increased its position in CDW by 6.0% in the 2nd quarter. Studio Investment Management LLC now owns 2,667 shares of the information technology services provider’s stock valued at $375,000 after acquiring an additional 150 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other CDW news, insider Elizabeth Connelly sold 26,695 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $137.62, for a total value of $3,673,765.90. Following the transaction, the insider owned 34,215 shares of the company’s stock, valued at approximately $4,708,668.30. This represents a 43.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

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

CDW Price Performance

Shares of CDW stock opened at $165.11 on Friday. CDW Corporation has a 52-week low of $97.12 and a 52-week high of $166.15. The stock has a market cap of $20.64 billion, a PE ratio of 19.84, a PEG ratio of 2.16 and a beta of 0.95. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.05 and a current ratio of 1.17. The firm’s 50 day moving average price is $144.83 and its two-hundred day moving average price is $135.12.

CDW (NASDAQ:CDW) last posted its quarterly 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 return on equity of 50.61% and a net margin of 4.60%. The company had revenue of $6.57 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter in the prior year, the business posted $2.60 EPS. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. As a group, analysts forecast that CDW Corporation will post 10.33 EPS for the current year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Tuesday, August 25th were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Tuesday, August 25th. CDW’s dividend payout ratio is currently 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.