CDW Corporation $CDW Stock: Vest Financial LLC Increases Holdings

Key Points

• Vest Financial LLC significantly increased its CDW stake by 6,126.6% in the third quarter, acquiring 1.19 million additional shares. CDW now represents about 1.6% of Vest Financial’s portfolio and 0.97% of CDW’s outstanding stock.
• Institutional ownership remains high at 93.15%, with several major investors—including BlackRock, Pzena Investment Management and Assenagon Asset Management—also initiating or expanding positions.
• CDW reported quarterly results above expectations, posting $2.91 in EPS on $6.57 billion in revenue, while revenue grew 10% year over year. The company also pays a quarterly dividend of $0.63 per share, equivalent to a 1.6% yield.

Vest Financial LLC raised its stake in CDW Corporation (NASDAQ:CDW - Free Report) by 6,126.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,209,324 shares of the information technology services provider's stock after buying an additional 1,189,902 shares during the quarter. CDW comprises approximately 1.6% of Vest Financial LLC's investment portfolio, making the stock its 4th biggest holding. Vest Financial LLC owned 0.97% of CDW worth $154,987,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CDW. BlackRock Inc. bought a new stake in shares of CDW during the second quarter worth $2,143,082,000. Pzena Investment Management LLC acquired a new stake in shares of CDW during the second quarter worth $371,135,000. Jupiter Topco LLC acquired a new stake in shares of CDW during the second quarter worth $300,073,000. Bank of America Corp DE bought a new stake in CDW in the 2nd quarter valued at $255,058,000. Finally, Assenagon Asset Management S.A. lifted its position in CDW by 2,947.4% in the 3rd 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 acquiring an additional 1,699,909 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Trading Up 2.1%

NASDAQ CDW opened at $158.28 on Thursday. The stock has a market capitalization of $19.79 billion, a price-to-earnings ratio of 19.02, a PEG ratio of 2.03 and a beta of 0.95. CDW Corporation has a 52 week low of $97.12 and a 52 week high of $161.10. The stock's 50 day moving average price is $143.86 and its two-hundred day moving average price is $134.61. 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 (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, beating analysts' consensus estimates of $2.80 by $0.11. The company had revenue of $6.57 billion for the quarter, compared to the consensus estimate of $6.21 billion. CDW had a net margin of 4.60% and a return on equity of 50.61%. The firm's revenue was up 10.0% compared to the same quarter last year. During the same period last year, the company earned $2.60 earnings per share. As a group, analysts anticipate that CDW Corporation will post 10.33 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Tuesday, August 25th were issued a dividend of $0.63 per share. The ex-dividend date was Tuesday, August 25th. This represents a $2.52 annualized dividend and a yield of 1.6%. CDW's dividend payout ratio is presently 30.29%.

Insiders Place Their Bets

In related news, insider Elizabeth Connelly sold 26,695 shares of the firm's 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 of the company's stock, valued at approximately $4,708,668.30. This trade represents a 43.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.82% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Morgan Stanley upped their target price 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. Citigroup increased their target price on CDW from $123.00 to $145.00 and gave the stock a "neutral" rating in a report on Monday, July 13th. Weiss Ratings raised CDW from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 25th. Finally, Barclays dropped their price target on 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 given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $150.12.

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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