CDW Corporation $CDW Stock Purchased by Diversify Advisory Services LLC

Key Points

• Diversify Advisory Services increased its CDW stake by 88.3% in the third quarter, purchasing 9,179 additional shares and bringing its holdings to 19,576 shares valued at approximately $2.3 million. Institutional investors collectively own 93.15% of CDW.
• CDW reported quarterly EPS of $2.91, exceeding the $2.80 consensus estimate, while revenue rose 10% year over year to $6.57 billion. The company also pays a quarterly dividend of $0.63, equivalent to a 1.5% annual yield.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $150.12. CDW shares recently opened at $165.11, near their 52-week high of $166.15.

Diversify Advisory Services LLC boosted its stake in CDW Corporation (NASDAQ:CDW - Free Report) by 88.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,576 shares of the information technology services provider's stock after purchasing an additional 9,179 shares during the period. Diversify Advisory Services LLC's holdings in CDW were worth $2,301,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Kendall Capital Management acquired a new stake in shares of CDW during the second quarter worth approximately $3,584,000. Man Group plc acquired a new stake in CDW during the second quarter valued at approximately $1,262,000. Pzena Investment Management LLC bought a new stake in shares of CDW in the 2nd quarter valued at approximately $371,135,000. Raiffeisen Bank International AG increased its holdings in shares of CDW by 17,453.5% in the 2nd quarter. Raiffeisen Bank International AG now owns 15,096 shares of the information technology services provider's stock valued at $2,111,000 after acquiring an additional 15,010 shares during the last quarter. Finally, Jupiter Topco LLC acquired a new stake in shares of CDW during the 2nd quarter valued at approximately $300,073,000. Institutional investors and hedge funds own 93.15% of the company's stock.

Insider Activity

In other news, insider Elizabeth Connelly sold 26,695 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $137.62, for a total value of $3,673,765.90. Following the completion of the transaction, the insider owned 34,215 shares in the company, valued at approximately $4,708,668.30. This represents a 43.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.82% of the company's stock.

CDW Price Performance

Shares of CDW stock opened at $165.11 on Friday. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.17 and a quick ratio of 1.05. The company has a market cap of $20.64 billion, a PE ratio of 19.84, a price-to-earnings-growth ratio of 2.16 and a beta of 0.95. The firm has a fifty day moving average price of $144.83 and a two-hundred day moving average price of $135.12. CDW Corporation has a fifty-two week low of $97.12 and a fifty-two week high of $166.15.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share (EPS) for the quarter, topping 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 company had revenue of $6.57 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter in the previous year, the firm posted $2.60 EPS. The business's revenue was up 10.0% compared to the same quarter last year. Analysts expect that CDW Corporation will post 10.33 EPS for the current year.

CDW Announces Dividend

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 $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, August 25th. CDW's payout ratio is 30.29%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CDW. Weiss Ratings upgraded shares of CDW from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 25th. Morgan Stanley lifted their price target on shares of CDW from $170.00 to $171.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Barclays lowered their price target on shares of CDW from $150.00 to $148.00 and set an "equal weight" rating for the company in a research report on Monday, September 21st. Finally, Citigroup upped their target price on CDW from $123.00 to $145.00 and gave the stock a "neutral" rating in a research report on Monday, July 13th. One equities research 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's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus 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.

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