Commonwealth Equity Services LLC Acquires 140,807 Shares of CDW Corporation $CDW

by · The Markets Daily

Commonwealth Equity Services LLC increased its holdings in CDW Corporation (NASDAQ:CDW – Free Report) by 2,474.6% in the third quarter, Holdings Channel.com reports. The firm owned 146,497 shares of the information technology services provider’s stock after acquiring an additional 140,807 shares during the period. Commonwealth Equity Services LLC’s holdings in CDW were worth $18,775,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CDW. Parkside Financial Bank & Trust grew its holdings in shares of CDW by 48.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 268 shares of the information technology services provider’s stock valued at $38,000 after purchasing an additional 87 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in CDW by 2.8% in the third quarter. V Square Quantitative Management LLC now owns 3,252 shares of the information technology services provider’s stock worth $417,000 after purchasing an additional 89 shares during the last quarter. Covestor Ltd lifted its stake in CDW by 9.0% in the third quarter. Covestor Ltd now owns 1,076 shares of the information technology services provider’s stock worth $138,000 after purchasing an additional 89 shares during the last quarter. CX Institutional lifted its stake in CDW by 4.0% in the third quarter. CX Institutional now owns 2,585 shares of the information technology services provider’s stock worth $331,000 after purchasing an additional 99 shares during the last quarter. Finally, VestGen Advisors LLC boosted its position in CDW by 5.7% during the third quarter. VestGen Advisors LLC now owns 2,302 shares of the information technology services provider’s stock valued at $295,000 after buying an additional 124 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Up 2.9%

Shares of NASDAQ CDW opened at $169.36 on Wednesday. The company has a quick ratio of 1.15, a current ratio of 1.26 and a debt-to-equity ratio of 2.32. CDW Corporation has a 52 week low of $97.12 and a 52 week high of $172.47. The firm’s fifty day moving average is $149.42 and its 200 day moving average is $134.15. The company has a market cap of $21.14 billion, a price-to-earnings ratio of 19.76, a PEG ratio of 1.46 and a beta of 0.92.

CDW (NASDAQ:CDW – Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The information technology services provider reported $3.26 earnings per share for the quarter, beating the consensus estimate of $2.98 by $0.28. The business had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.19 billion. CDW had a net margin of 4.48% and a return on equity of 52.23%. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.71 EPS. On average, equities research analysts expect that CDW Corporation will post 10.33 earnings per share for the current year.

CDW Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 25th will be given a $0.68 dividend. The ex-dividend date is Wednesday, November 25th. This is a positive change from CDW’s previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.6%. CDW’s dividend payout ratio is presently 29.40%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CDW. JPMorgan Chase & Co. raised their price objective on CDW from $170.00 to $195.00 and gave the company an “overweight” rating in a research note on Thursday, November 5th. Barclays decreased their price objective on CDW from $150.00 to $148.00 and set an “equal weight” rating on the stock in a report on Monday, September 21st. Weiss Ratings raised CDW from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. Morgan Stanley increased their target price on CDW from $170.00 to $171.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Finally, Citigroup raised their price target on CDW from $150.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, November 5th. One equities research 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $167.38.

Get Our Latest Stock Analysis on CDW

CDW Profile

(Free Report)

CDW Corporation is a provider of information technology products and services to businesses, government agencies, educational institutions and healthcare organizations. The company helps customers select, purchase, implement and manage technology solutions. Its offerings include computers and other hardware, software, cloud services, cybersecurity, networking, data center infrastructure and collaboration tools. CDW also provides consulting, integration and ongoing technology support, helping customers plan and operate their IT environments.

Further Reading

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