Sawyer & Company Inc Acquires New Holdings in CDW Corporation $CDW

Key Points

• Sawyer & Company acquired 19,367 shares of CDW in the third quarter, valued at approximately $2.48 million. Institutional investors and hedge funds collectively own 93.15% of the company.
• Analysts maintain a generally positive outlook, with CDW receiving a “Moderate Buy” consensus rating and an average price target of $150.12. Recent targets ranged from $145 to $171.
• CDW exceeded quarterly earnings expectations, reporting $2.91 in EPS and $6.57 billion in revenue, up 10% year over year. The company also paid a quarterly dividend of $0.63 per share, representing a 1.6% annualized yield.

Sawyer & Company Inc purchased a new stake in CDW Corporation (NASDAQ:CDW - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 19,367 shares of the information technology services provider's stock, valued at approximately $2,482,000.

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

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Weiss Ratings raised CDW from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 25th. Citigroup raised their price objective on shares of CDW from $123.00 to $145.00 and gave the company a "neutral" rating in a research note on Monday, July 13th. Morgan Stanley lifted 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, Barclays reduced their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $150.12.

Insider Buying and Selling at CDW

In related news, insider Elizabeth Connelly sold 26,695 shares of the firm'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 transaction of $3,673,765.90. Following the transaction, the insider directly owned 34,215 shares in the company, valued at $4,708,668.30. This trade represents a 43.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.82% of the company's stock.

CDW Price Performance

CDW stock traded up $1.03 during midday trading on Wednesday, reaching $156.03. 365,535 shares of the stock were exchanged, compared to its average volume of 1,825,446. CDW Corporation has a 52 week low of $97.12 and a 52 week high of $161.10. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.05 and a current ratio of 1.17. The firm has a market cap of $19.51 billion, a PE ratio of 18.73, a PEG ratio of 2.00 and a beta of 0.95. The company's fifty day moving average is $143.43 and its 200-day moving average is $134.35.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The information technology services provider reported $2.91 EPS for the quarter, topping the consensus estimate of $2.80 by $0.11. CDW had a return on equity of 50.61% and a net margin of 4.60%. The company had revenue of $6.57 billion during the quarter, compared to analyst estimates of $6.21 billion. During the same quarter in the previous year, the firm earned $2.60 earnings per share. CDW's revenue was up 10.0% on a year-over-year basis. On average, sell-side analysts forecast that CDW Corporation will post 10.33 EPS for the current year.

CDW Announces Dividend

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.