Broad Run Investment Management LLC purchased a new position in CDW Corporation (NASDAQ:CDW - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 124,310 shares of the information technology services provider's stock, valued at approximately $17,483,000. CDW accounts for about 2.7% of Broad Run Investment Management LLC's investment portfolio, making the stock its 12th largest position. Broad Run Investment Management LLC owned 0.10% of CDW at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in CDW during the 2nd quarter valued at about $2,143,082,000. Pzena Investment Management LLC bought a new stake in CDW in the 2nd quarter worth approximately $371,135,000. Deutsche Bank AG bought a new stake in CDW in the 2nd quarter worth approximately $112,488,000. Pacer Advisors Inc. raised its stake in CDW by 5,081.1% during 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 lifted its holdings in shares of CDW by 255.7% during the 3rd 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 during the period. Institutional investors own 93.15% of the company's stock.
Wall Street Analysts Forecast Growth
CDW has been the topic of a number of research reports. Citigroup raised their price target on CDW from $123.00 to $145.00 and gave the stock a "neutral" rating in a research note on Monday, July 13th. Raymond James Financial set a $150.00 price objective on shares of CDW in a report on Wednesday, May 6th. 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 report on Thursday, May 7th. JPMorgan Chase & Co. raised shares of CDW from a "neutral" rating to an "overweight" rating and set a $130.00 target price for the company in a report on Wednesday, May 27th. Finally, Morgan Stanley increased their price target 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. One investment 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $147.00.
Get Our Latest Analysis on CDW
Insider Buying and Selling at CDW
In other CDW news, insider Elizabeth H. Connelly sold 26,695 shares of CDW 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 $4,708,668.30. The trade was a 43.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David W. Nelms purchased 18,000 shares of CDW stock in a transaction dated Wednesday, May 27th. The shares were purchased at an average cost of $111.43 per share, for a total transaction of $2,005,740.00. Following the transaction, the director owned 51,025 shares in the company, valued at approximately $5,685,715.75. This trade represents a 54.50% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.82% of the stock is owned by insiders.
CDW Trading Down 3.5%
NASDAQ CDW opened at $132.51 on Tuesday. The firm has a market cap of $16.57 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 1.81 and a beta of 0.96. CDW Corporation has a 52 week low of $97.12 and a 52 week high of $171.55. The company has a quick ratio of 1.05, a current ratio of 1.17 and a debt-to-equity ratio of 1.97. The company has a 50 day moving average price of $136.39 and a 200 day moving average price of $128.45.
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. CDW had a net margin of 4.60% and a return on equity of 50.61%. The business had revenue of $6.57 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same period in the prior year, the firm earned $2.60 EPS. The business's revenue for the quarter was up 10.0% on a year-over-year basis. As a group, sell-side analysts forecast that CDW Corporation will post 10.28 EPS for the current fiscal year.
CDW Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Tuesday, August 25th. CDW's payout ratio is currently 30.29%.
CDW Company Profile
(
Free Report)
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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