CDW Corporation $CDW Stock Acquired by Nisa Investment Advisors LLC

Key Points

• Institutional ownership increased sharply: Nisa Investment Advisors raised its CDW stake by 15,696.1% to 329,664 shares, while other funds also added positions. Institutions and hedge funds now own 93.15% of the company.
• CDW posted strong quarterly results: Earnings of $2.91 per share exceeded estimates of $2.80, while revenue reached $6.57 billion, up 10% year over year and above expectations.
• Analysts remain moderately bullish: CDW has a consensus “Moderate Buy” rating and a $150.12 target price, while the company pays a quarterly dividend of $0.63, yielding about 1.6%. An insider separately sold 26,695 shares.

Nisa Investment Advisors LLC grew its stake in CDW Corporation (NASDAQ:CDW - Free Report) by 15,696.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 329,664 shares of the information technology services provider's stock after buying an additional 327,577 shares during the period. Nisa Investment Advisors LLC owned 0.26% of CDW worth $42,250,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Robeco Institutional Asset Management B.V. raised its stake in CDW by 9,978.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,645,222 shares of the information technology services provider's stock worth $210,852,000 after acquiring an additional 1,628,898 shares during the last quarter. Diversify Advisory Services LLC lifted its position in CDW by 88.3% during the 3rd quarter. Diversify Advisory Services LLC now owns 19,576 shares of the information technology services provider's stock worth $2,301,000 after acquiring an additional 9,179 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in CDW by 725.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 142,283 shares of the information technology services provider's stock worth $18,235,000 after acquiring an additional 125,043 shares during the period. Prairie Advisory LLC grew its stake in CDW by 92.7% during the 3rd quarter. Prairie Advisory LLC now owns 6,452 shares of the information technology services provider's stock valued at $827,000 after purchasing an additional 3,103 shares during the last quarter. Finally, Grant Private Wealth Management Inc purchased a new stake in CDW during the 3rd quarter valued at about $801,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CDW

In other news, insider Elizabeth Connelly sold 26,695 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 34,215 shares in the company, valued at $4,708,668.30. The trade was a 43.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.82% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CDW. Citigroup raised their price objective on CDW from $123.00 to $145.00 and gave the stock a "neutral" rating in a research note on Monday, July 13th. Barclays decreased 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. Morgan Stanley upped their target price on CDW from $170.00 to $171.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of CDW from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 25th. One 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 company. According to MarketBeat, CDW presently has an average rating of "Moderate Buy" and a consensus target price of $150.12.

CDW Price Performance

NASDAQ:CDW opened at $154.99 on Wednesday. CDW Corporation has a 52 week low of $97.12 and a 52 week high of $161.10. 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 stock has a market capitalization of $19.38 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 2.00 and a beta of 0.95. The stock's 50-day moving average price is $143.43 and its 200-day moving average price is $134.35.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share for the quarter, topping analysts' consensus estimates of $2.80 by $0.11. The company had revenue of $6.57 billion during the quarter, compared to analysts' expectations of $6.21 billion. CDW had a return on equity of 50.61% and a net margin of 4.60%. CDW's quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.60 EPS. As a group, equities analysts expect that CDW Corporation will post 10.33 EPS for the current fiscal year.

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th were given a $0.63 dividend. The ex-dividend date was Tuesday, August 25th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.6%. CDW's payout ratio is 30.29%.

CDW Company 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.

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