CDW Corporation $CDW Shares Acquired by Eurizon Capital SGR S.p.A.

Key Points

• Eurizon Capital SGR increased its CDW stake by 1,257.7% in the third quarter, adding 169,766 shares to own 183,264 shares valued at about $23.5 million. Institutional investors collectively own 93.15% of the stock.
• CDW reported quarterly earnings of $3.26 per share, beating estimates of $2.98, while revenue of $6.75 billion also exceeded expectations and rose 17.7% year over year.
• CDW raised its quarterly dividend from $0.63 to $0.68 per share, equivalent to $2.72 annually and a 1.6% yield. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $167.38.

Eurizon Capital SGR S.p.A. lifted its position in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 1,257.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 183,264 shares of the information technology services provider's stock after acquiring an additional 169,766 shares during the period. Eurizon Capital SGR S.p.A. owned about 0.15% of CDW worth $23,487,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CDW. BlackRock Inc. bought a new stake in CDW during the second quarter valued at $2,143,082,000. Pzena Investment Management LLC lifted its position in shares of CDW by 27.1% in the 3rd quarter. Pzena Investment Management LLC now owns 3,353,465 shares of the information technology services provider's stock worth $429,780,000 after buying an additional 714,565 shares during the last quarter. Jupiter Topco LLC bought a new position in shares of CDW in the 2nd quarter worth about $300,073,000. Alyeska Investment Group L.P. boosted its holdings in shares of CDW by 197.1% in the 2nd quarter. Alyeska Investment Group L.P. now owns 1,854,952 shares of the information technology services provider's stock valued at $260,880,000 after buying an additional 1,230,517 shares during the period. Finally, Bank of America Corp DE acquired a new position in shares of CDW in the 2nd quarter valued at about $255,058,000. 93.15% of the stock is currently owned by institutional investors.

CDW Stock Performance

Shares of CDW stock traded down $1.14 during trading on Friday, hitting $171.65. 1,509,339 shares of the stock were exchanged, compared to its average volume of 1,694,941. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.15 and a current ratio of 1.26. CDW Corporation has a 12 month low of $97.12 and a 12 month high of $175.19. The stock's fifty day moving average is $150.72 and its 200 day moving average is $134.84. The stock has a market cap of $21.42 billion, a PE ratio of 20.03, a P/E/G ratio of 1.52 and a beta of 0.92.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The information technology services provider reported $3.26 earnings per share for the quarter, beating the consensus estimate of $2.98 by $0.28. The firm had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.19 billion. CDW had a net margin of 4.48% and a return on equity of 52.23%. CDW's quarterly revenue was up 17.7% compared to the same quarter last year. During the same period last year, the firm posted $2.71 EPS. As a group, sell-side analysts anticipate that CDW Corporation will post 10.38 EPS for the current year.

CDW Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 25th will be paid a $0.68 dividend. The ex-dividend date is Wednesday, November 25th. This is an increase from CDW's previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a dividend yield of 1.6%. CDW's dividend payout ratio (DPR) is 29.40%.

Analyst Ratings Changes

A number of brokerages recently weighed in on CDW. JPMorgan Chase & Co. boosted their price objective on shares of CDW from $170.00 to $195.00 and gave the company an "overweight" rating in a research report on Thursday, November 5th. Weiss Ratings upgraded CDW from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 25th. Barclays lowered their target price on CDW from $150.00 to $148.00 and set an "equal weight" rating for the company in a report on Monday, September 21st. Citigroup increased their price target on CDW from $150.00 to $170.00 and gave the stock a "neutral" rating in a research report on Thursday, November 5th. Finally, Morgan Stanley raised their price target on CDW from $170.00 to $171.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, CDW presently has an average rating of "Moderate Buy" and a consensus target price of $167.38.

CDW Profile

CDW Corporation is a provider of information technology products and services to businesses, government agencies, educational institutions and healthcare organizations. The company helps customers select, purchase, implement and manage technology solutions. Its offerings include computers and other hardware, software, cloud services, cybersecurity, networking, data center infrastructure and collaboration tools. CDW also provides consulting, integration and ongoing technology support, helping customers plan and operate their IT environments.

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