Commerce Bank Acquires New Position in CDW Corporation $CDW

Commerce Bank acquired a new stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,726 shares of the information technology services provider's stock, valued at approximately $1,509,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hollencrest Capital Management lifted its position in shares of CDW by 909.1% during the 1st quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider's stock worth $27,000 after buying an additional 200 shares during the last quarter. Allied Private Wealth LLC bought a new position in CDW in the second quarter valued at about $28,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of CDW during the second quarter valued at about $28,000. Root Financial Partners LLC grew its holdings in shares of CDW by 54.7% during the first quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider's stock worth $32,000 after purchasing an additional 93 shares during the last quarter. Finally, Johnson Financial Group Inc. acquired a new position in shares of CDW in the second quarter valued at approximately $51,000. 93.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on CDW shares. Barclays dropped their price objective on shares of CDW from $144.00 to $123.00 and set an "equal weight" rating for the company in a report on Thursday, May 7th. UBS Group dropped their price target on shares of CDW from $162.00 to $147.00 and set a "buy" rating for the company in a research note on Thursday, May 7th. Royal Bank Of Canada upgraded shares of CDW to an "outperform" rating and set a $130.00 price target on the stock in a report on Wednesday, May 27th. Morgan Stanley boosted their price objective 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. Finally, JPMorgan Chase & Co. upgraded CDW from a "neutral" rating to an "overweight" rating and set a $130.00 price objective for the company in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $147.00.

CDW Stock Up 7.2%

Shares of NASDAQ CDW opened at $142.09 on Wednesday. The company's 50 day moving average price is $136.63 and its 200-day moving average price is $128.48. 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 Corporation has a 52-week low of $97.12 and a 52-week high of $171.55. The company has a market capitalization of $17.76 billion, a P/E ratio of 17.08, a price-to-earnings-growth ratio of 1.74 and a beta of 0.96.

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 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 during the quarter, compared to analysts' expectations of $6.21 billion. During the same period in the prior year, the company posted $2.60 earnings per share. CDW's revenue for the quarter was up 10.0% compared to the same quarter last year. Equities analysts forecast that CDW Corporation will post 10.28 earnings per share for the current year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th will be given a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $2.52 annualized dividend and a dividend yield of 1.8%. CDW's dividend payout ratio (DPR) is 30.29%.

Insider Activity

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

CDW Profile

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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