15,238,070 Shares in CDW Corporation $CDW Purchased by BlackRock Inc.

BlackRock Inc. acquired a new stake in CDW Corporation (NASDAQ:CDW - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 15,238,070 shares of the information technology services provider's stock, valued at approximately $2,143,082,000. BlackRock Inc. owned about 11.93% of CDW at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CDW. Deutsche Bank AG purchased a new stake in shares of CDW in the second quarter valued at about $112,488,000. Rice Hall James & Associates LLC purchased a new position in shares of CDW during the 2nd quarter worth approximately $245,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of CDW during the 2nd quarter worth approximately $44,850,000. Flputnam Investment Management Co. acquired a new position in shares of CDW during the 2nd quarter worth approximately $269,000. Finally, Global Retirement Partners LLC purchased a new stake in CDW in the 2nd quarter valued at approximately $246,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other CDW news, Director David W. Nelms purchased 18,000 shares of the stock in a transaction on Wednesday, May 27th. The stock was bought at an average price of $111.43 per share, for a total transaction of $2,005,740.00. Following the acquisition, the director directly owned 51,025 shares of the company's stock, valued at $5,685,715.75. This represents a 54.50% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider Elizabeth H. Connelly sold 26,695 shares of the company'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 transaction, the insider directly owned 34,215 shares of the company's stock, valued at approximately $4,708,668.30. This represents a 43.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.82% of the company's stock.

CDW Stock Up 1.7%

CDW stock opened at $137.20 on Thursday. The company has a 50 day moving average price of $136.18 and a two-hundred day moving average price of $128.28. 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 stock has a market capitalization of $17.15 billion, a P/E ratio of 16.49, a PEG ratio of 1.78 and a beta of 0.96. CDW Corporation has a one year low of $97.12 and a one year high of $171.55.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share for the quarter, topping 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 analyst estimates of $6.21 billion. During the same quarter in the prior year, the company posted $2.60 EPS. The business's revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, sell-side analysts expect that CDW Corporation will post 10.28 EPS for the current year.

CDW Announces Dividend

The firm also recently announced 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 30.29%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised CDW from a "neutral" rating to an "overweight" rating and set a $130.00 price target for the company in a research report on Wednesday, May 27th. Weiss Ratings upgraded CDW from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, June 11th. Raymond James Financial set a $150.00 price objective on CDW in a research note on Wednesday, May 6th. Citigroup lifted their price objective on CDW from $123.00 to $145.00 and gave the stock a "neutral" rating in a research report on Monday, July 13th. Finally, Barclays cut their target price on shares of CDW from $144.00 to $123.00 and set an "equal weight" rating for the company in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, CDW currently has an average rating of "Moderate Buy" and a consensus price target of $147.00.

About CDW

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.

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