7,966 Shares in CDW Corporation $CDW Purchased by Wealthfront Advisers LLC

Wealthfront Advisers LLC purchased a new position in shares of CDW Corporation (NASDAQ:CDW - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 7,966 shares of the information technology services provider's stock, valued at approximately $1,120,000.

A number of other large investors also recently modified their holdings of the business. BlackRock Inc. bought a new position in CDW in the second quarter valued at approximately $2,143,082,000. Pzena Investment Management LLC bought a new stake in shares of CDW during the 2nd quarter worth approximately $371,135,000. Deutsche Bank AG acquired a new stake in shares of CDW in the 2nd quarter valued at approximately $112,488,000. Pacer Advisors Inc. boosted its holdings in shares of CDW by 5,081.1% in the 1st quarter. Pacer Advisors Inc. now owns 549,247 shares of the information technology services provider's stock valued at $66,470,000 after buying an additional 538,646 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in shares of CDW by 255.7% in the third quarter. Marshall Wace LLP now owns 599,248 shares of the information technology services provider's stock valued at $95,448,000 after buying an additional 430,796 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on CDW. JPMorgan Chase & Co. raised shares of CDW from a "neutral" rating to an "overweight" rating and set a $130.00 price target on the stock in a research report on Wednesday, May 27th. 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 note on Thursday, August 6th. Barclays dropped their target price on shares of CDW from $144.00 to $123.00 and set an "equal weight" rating on the stock in a report on Thursday, May 7th. UBS Group cut their target price on shares of CDW from $162.00 to $147.00 and set a "buy" rating for the company in a research note on Thursday, May 7th. Finally, Raymond James Financial set a $150.00 price target on CDW in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, CDW has an average rating of "Moderate Buy" and an average target price of $147.00.

Insider Transactions at CDW

In other CDW news, Director David W. Nelms purchased 18,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The shares were acquired at an average cost of $111.43 per share, for a total transaction of $2,005,740.00. Following the completion of the purchase, the director owned 51,025 shares of the company's stock, valued at approximately $5,685,715.75. The trade was a 54.50% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Elizabeth H. Connelly sold 26,695 shares of the business's stock in a transaction dated 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 completion of the transaction, the insider directly owned 34,215 shares of the company's stock, valued at approximately $4,708,668.30. This trade represents a 43.83% decrease in their position. The SEC filing for this sale provides additional information. 0.82% of the stock is currently owned by corporate insiders.

CDW Trading Up 2.8%

Shares of CDW stock opened at $137.25 on Friday. 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 business has a fifty day simple moving average of $136.37 and a two-hundred day simple moving average of $128.40. CDW Corporation has a 1 year low of $97.12 and a 1 year high of $171.55. The company has a market capitalization of $17.16 billion, a price-to-earnings ratio of 16.50, a P/E/G ratio of 1.76 and a beta of 0.96.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The information technology services provider reported $2.91 EPS 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 the consensus estimate of $6.21 billion. CDW had a net margin of 4.60% and a return on equity of 50.61%. The company's quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.60 earnings per share. Research analysts forecast that CDW Corporation will post 10.28 EPS for the current year.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Tuesday, August 25th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $2.52 annualized dividend and a dividend yield of 1.8%. CDW's payout ratio is presently 30.29%.

CDW Company Profile

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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