13,272 Shares in CDW Corporation $CDW Bought by Fifth Third Wealth Advisors LLC

Key Points

• Fifth Third Wealth Advisors acquired 13,272 CDW shares worth approximately $1.7 million, while other institutional investors also increased their positions; institutions own 93.15% of the stock.
• CDW reported quarterly earnings of $2.91 per share and revenue of $6.57 billion, exceeding analyst estimates, with revenue rising 10% year over year.
• CDW paid a quarterly dividend of $0.63 per share, or $2.52 annualized, representing a 1.5% yield; analysts maintain a “Moderate Buy” consensus with an average price target of $150.12.

Fifth Third Wealth Advisors LLC acquired a new stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 13,272 shares of the information technology services provider's stock, valued at approximately $1,701,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Sterling Capital Management LLC raised its holdings in CDW by 682.9% in the third quarter. Sterling Capital Management LLC now owns 30,800 shares of the information technology services provider's stock worth $3,947,000 after buying an additional 26,866 shares during the last quarter. Yousif Capital Management LLC increased its holdings in shares of CDW by 585.6% in the 3rd quarter. Yousif Capital Management LLC now owns 117,095 shares of the information technology services provider's stock worth $15,007,000 after purchasing an additional 100,017 shares in the last quarter. SRH Advisors LLC raised its stake in shares of CDW by 6,123.5% in the third quarter. SRH Advisors LLC now owns 2,116 shares of the information technology services provider's stock worth $271,000 after purchasing an additional 2,082 shares during the last quarter. Sepio Capital LP raised its stake in shares of CDW by 34.3% in the third quarter. Sepio Capital LP now owns 4,644 shares of the information technology services provider's stock worth $595,000 after purchasing an additional 1,186 shares during the last quarter. Finally, Brookstone Capital Management purchased a new position in shares of CDW in the third quarter worth $971,000. 93.15% of the stock is owned by institutional investors.

CDW Trading Up 0.3%

NASDAQ:CDW opened at $165.11 on Friday. 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 Corporation has a 12 month low of $97.12 and a 12 month high of $166.15. The company has a market cap of $20.64 billion, a PE ratio of 19.84, a price-to-earnings-growth ratio of 2.16 and a beta of 0.95. The company has a 50 day simple moving average of $144.83 and a two-hundred day simple moving average of $135.12.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.11. The firm had revenue of $6.57 billion for 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 company's revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.60 EPS. Research analysts forecast that CDW Corporation will post 10.33 earnings per share for the current year.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Tuesday, August 25th were given a dividend of $0.63 per share. 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 30.29%.

Insiders Place Their Bets

In other news, insider Elizabeth Connelly sold 26,695 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were 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 in the company, valued at $4,708,668.30. This represents a 43.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.82% of the company's stock.

Analysts Set New Price Targets

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

CDW Company 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.

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