CDW Corporation $CDW Position Lifted by IFP Advisors Inc

Key Points

• IFP Advisors increased its CDW stake by 2,004% in the third quarter to 41,617 shares worth approximately $5.3 million. Institutional investors collectively own 93.15% of CDW, with Assenagon Asset Management making a particularly large purchase.
• CDW reported quarterly EPS of $2.91, exceeding analyst expectations of $2.80, while revenue reached $6.57 billion and grew 10% year over year. Analysts expect full-year EPS of $10.33.
• CDW pays a quarterly dividend of $0.63 per share, equivalent to an annualized $2.52 and a 1.7% yield. Wall Street maintains a “Moderate Buy” consensus rating with an average price target of $150.12.

IFP Advisors Inc raised its holdings in CDW Corporation (NASDAQ:CDW - Free Report) by 2,004.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,617 shares of the information technology services provider's stock after acquiring an additional 39,639 shares during the quarter. IFP Advisors Inc's holdings in CDW were worth $5,334,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Pension & Wealth Management Advisors Inc. grew its position in CDW by 23.8% during the 3rd quarter. Pension & Wealth Management Advisors Inc. now owns 1,005 shares of the information technology services provider's stock worth $129,000 after purchasing an additional 193 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in shares of 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 valued at $417,000 after purchasing an additional 89 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of CDW by 2,947.4% in the third quarter. Assenagon Asset Management S.A. now owns 1,757,584 shares of the information technology services provider's stock valued at $225,252,000 after purchasing an additional 1,699,909 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of CDW by 642.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 92,881 shares of the information technology services provider's stock valued at $11,904,000 after purchasing an additional 80,363 shares during the period. Finally, Ashurst Perkins Coie Trust Co acquired a new position in CDW in the 3rd quarter valued at approximately $33,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at CDW

In other news, insider Elizabeth Connelly sold 26,695 shares of the business's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $137.62, for a total value 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.82% of the company's stock.

CDW Stock Performance

CDW opened at $152.65 on Tuesday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.05 and a current ratio of 1.17. CDW Corporation has a 52-week low of $97.12 and a 52-week high of $161.10. The firm has a market cap of $19.08 billion, a P/E ratio of 18.35, a price-to-earnings-growth ratio of 1.97 and a beta of 0.95. The business's fifty day moving average is $143.04 and its 200-day moving average is $134.11.

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 (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.11. The company had revenue of $6.57 billion for the quarter, compared to analyst estimates of $6.21 billion. CDW had a return on equity of 50.61% and a net margin of 4.60%. The company's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.60 EPS. Sell-side analysts expect that CDW Corporation will post 10.33 EPS for the current fiscal year.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Tuesday, August 25th. CDW's dividend payout ratio (DPR) is presently 30.29%.

Wall Street Analysts Forecast Growth

CDW has been the topic of a number of analyst reports. Weiss Ratings raised CDW from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 25th. Citigroup upped their target price on CDW from $123.00 to $145.00 and gave the company a "neutral" rating in a research note on Monday, July 13th. Morgan Stanley raised their price target 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. Finally, Barclays reduced their target price on shares of CDW from $150.00 to $148.00 and set an "equal weight" rating on the stock in a research note on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $150.12.

CDW 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.

Want to see what other hedge funds are holding CDW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CDW Corporation (NASDAQ:CDW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.