CDW Corporation $CDW Shares Purchased by Pacer Advisors Inc.

Key Points

• Pacer Advisors significantly increased its CDW position by 5,081.1% in the first quarter, acquiring 538,646 additional shares and ending with 549,247 shares worth approximately $66.5 million.
• CDW reported quarterly revenue of $5.68 billion, up 9.2% year over year and above analyst estimates, while EPS of $2.28 matched consensus expectations.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $146.88; CDW also pays a quarterly dividend of $0.63, representing a 1.7% annualized yield.

Pacer Advisors Inc. raised its holdings in CDW Corporation (NASDAQ:CDW - Free Report) by 5,081.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 549,247 shares of the information technology services provider's stock after buying an additional 538,646 shares during the quarter. Pacer Advisors Inc. owned approximately 0.43% of CDW worth $66,470,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Hollencrest Capital Management boosted its position in shares of CDW by 909.1% in the first quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider's stock worth $27,000 after acquiring an additional 200 shares during the last quarter. Root Financial Partners LLC grew its holdings in CDW by 54.7% in the first quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider's stock valued at $32,000 after purchasing an additional 93 shares during the period. eCIO Inc. acquired a new position in CDW during the fourth quarter worth approximately $61,000. Covestor Ltd increased its position in CDW by 53.4% during the fourth quarter. Covestor Ltd now owns 741 shares of the information technology services provider's stock worth $101,000 after purchasing an additional 258 shares during the last quarter. Finally, American National Bank & Trust acquired a new position in shares of CDW in the 4th quarter valued at $110,000. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Stock Performance

NASDAQ:CDW opened at $147.81 on Monday. The company has a current ratio of 1.16, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of $18.88 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 1.96 and a beta of 0.96. The firm's fifty day simple moving average is $133.10 and its 200 day simple moving average is $127.27. CDW Corporation has a twelve month low of $97.12 and a twelve month high of $179.27.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.28. CDW had a return on equity of 49.67% and a net margin of 4.70%.The firm had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.48 billion. During the same period in the prior year, the firm earned $2.15 EPS. The firm's quarterly revenue was up 9.2% compared to the same quarter last year. As a group, equities research analysts expect that CDW Corporation will post 10.21 earnings per share for the current fiscal year.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Monday, May 25th were given a $0.63 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $2.52 annualized dividend and a dividend yield of 1.7%. CDW's dividend payout ratio is presently 30.66%.

Insider Activity

In related news, Director David W. Nelms bought 18,000 shares of the stock in a transaction dated Wednesday, May 27th. The stock was acquired at an average price 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 in the company, valued at $5,685,715.75. This represents a 54.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.82% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Morgan Stanley upgraded CDW from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $142.00 to $170.00 in a report on Tuesday, June 23rd. JPMorgan Chase & Co. upgraded CDW from a "neutral" rating to an "overweight" rating and set a $130.00 target price on the stock in a report on Wednesday, May 27th. UBS Group lowered their price target on CDW from $162.00 to $147.00 and set a "buy" rating for the company in a research report on Thursday, May 7th. Barclays dropped their price target on CDW from $144.00 to $123.00 and set an "equal weight" rating for the company in a research note on Thursday, May 7th. Finally, Citigroup raised their price objective on CDW from $123.00 to $145.00 and gave the stock a "neutral" rating in a report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $146.88.

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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