Kestra Advisory Services LLC Buys 69,837 Shares of CDW Corporation $CDW

Key Points

• Kestra Advisory Services increased its CDW stake by 907.4% in the third quarter, adding 69,837 shares to hold 77,533 shares valued at about $9.94 million.
• CDW reported quarterly earnings of $3.26 per share, beating estimates of $2.98, while revenue rose 17.7% year over year to $6.75 billion.
• CDW raised its quarterly dividend from $0.63 to $0.68 per share. Analysts’ consensus rating was “Moderate Buy,” with a consensus price target of $167.38.

Kestra Advisory Services LLC increased its stake in CDW Corporation (NASDAQ:CDW - Free Report) by 907.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 77,533 shares of the information technology services provider's stock after purchasing an additional 69,837 shares during the period. Kestra Advisory Services LLC owned approximately 0.06% of CDW worth $9,937,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Union Savings Bank lifted its stake in CDW by 500.0% in the 3rd quarter. Union Savings Bank now owns 192 shares of the information technology services provider's stock valued at $25,000 after acquiring an additional 160 shares in the last quarter. Allied Private Wealth LLC bought a new position in shares of CDW during the 2nd quarter worth approximately $28,000. Keating Financial Advisory Services Inc. bought a new position in shares of CDW during the 2nd quarter worth approximately $28,000. Manchester Capital Management LLC grew its stake in shares of CDW by 10,200.0% during the 3rd quarter. Manchester Capital Management LLC now owns 206 shares of the information technology services provider's stock worth $26,000 after acquiring an additional 204 shares in the last quarter. Finally, Community Bank N.A. bought a new stake in shares of CDW in the second quarter worth $31,000. Institutional investors own 93.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CDW. JPMorgan Chase & Co. increased their target price on shares of CDW from $170.00 to $195.00 and gave the stock an "overweight" rating in a report on Thursday, November 5th. Citigroup lifted their price target on shares of CDW from $150.00 to $170.00 and gave the company a "neutral" rating in a research note on Thursday, November 5th. Barclays cut their price target on shares of CDW from $150.00 to $148.00 and set an "equal weight" rating on the stock in a research report on Monday, September 21st. UBS Group boosted their price target on shares of CDW from $159.00 to $195.00 and gave the stock a "buy" rating in a research report on Thursday, November 5th. Finally, Morgan Stanley increased 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. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $167.38.

CDW Stock Up 4.8%

NASDAQ:CDW opened at $164.61 on Tuesday. CDW Corporation has a twelve month low of $97.12 and a twelve month high of $172.47. The firm has a market capitalization of $20.58 billion, a price-to-earnings ratio of 19.21, a price-to-earnings-growth ratio of 2.21 and a beta of 0.92. The company has a quick ratio of 1.05, a current ratio of 1.26 and a debt-to-equity ratio of 2.32. The stock's 50 day moving average price is $149.07 and its two-hundred day moving average price is $133.95.

CDW (NASDAQ:CDW - Get Free Report) last released its earnings results on Wednesday, November 4th. The information technology services provider reported $3.26 earnings per share for the quarter, beating the consensus estimate of $2.98 by $0.28. CDW had a net margin of 4.48% and a return on equity of 52.23%. The business had revenue of $6.75 billion during the quarter, compared to analysts' expectations of $6.19 billion. During the same period last year, the business earned $2.71 earnings per share. The firm's revenue was up 17.7% on a year-over-year basis. Equities research analysts expect that CDW Corporation will post 10.33 earnings per share for the current fiscal year.

CDW Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 25th will be paid a dividend of $0.68 per share. The ex-dividend date is Wednesday, November 25th. This represents a $2.72 annualized dividend and a dividend yield of 1.7%. This is a boost from CDW's previous quarterly dividend of $0.63. CDW's dividend payout ratio (DPR) is presently 29.40%.

CDW Profile

CDW Corporation is a provider of information technology products and services to businesses, government agencies, educational institutions and healthcare organizations. The company helps customers select, purchase, implement and manage technology solutions.

Its offerings include computers and other hardware, software, cloud services, cybersecurity, networking, data center infrastructure and collaboration tools. CDW also provides consulting, integration and ongoing technology support, helping customers plan and operate their IT environments.

Founded in 1984 as Computer Discount Warehouse, the company later adopted the CDW name.

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