Diversify Advisory Services LLC Invests $1.44 Million in CDW Corporation $CDW

Diversify Advisory Services LLC purchased a new stake in shares of CDW Corporation (NASDAQ:CDW) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,397 shares of the information technology services provider’s stock, valued at approximately $1,435,000.

Other hedge funds also recently added to or reduced their stakes in the company. Root Financial Partners LLC raised its stake in shares of CDW by 54.7% in 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. New Mexico Educational Retirement Board increased its holdings in CDW by 1.7% in the 4th quarter. New Mexico Educational Retirement Board now owns 6,050 shares of the information technology services provider’s stock worth $824,000 after buying an additional 100 shares in the last quarter. Hollencrest Capital Management raised its position in CDW by 909.1% in 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 during the 2nd quarter valued at about $28,000. Finally, Empowered Funds LLC lifted its stake in CDW by 1.2% during the 1st quarter. Empowered Funds LLC now owns 18,076 shares of the information technology services provider’s stock valued at $2,897,000 after acquiring an additional 216 shares during the period. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Stock Up 1.7%

CDW stock opened at $137.20 on Thursday. CDW Corporation has a twelve month low of $97.12 and a twelve month high of $171.55. The company has a quick ratio of 1.05, a current ratio of 1.17 and a debt-to-equity ratio of 1.97. The stock has a market cap of $17.15 billion, a P/E ratio of 16.49, a PEG ratio of 1.78 and a beta of 0.96. The business’s 50-day moving average price is $136.18 and its 200-day moving average price is $128.28.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.11. The business 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 company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.60 earnings per share. On average, equities research analysts forecast that CDW Corporation will post 10.28 EPS for the current year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Tuesday, August 25th will be paid a dividend of $0.63 per share. The ex-dividend date is Tuesday, August 25th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.8%. CDW’s payout ratio is 30.29%.

Insiders Place Their Bets

In other news, Director David W. Nelms bought 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was bought at an average price of $111.43 per share, with a total value of $2,005,740.00. Following the acquisition, the director owned 51,025 shares of the company’s stock, valued at approximately $5,685,715.75. This represents a 54.50% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Elizabeth H. Connelly sold 26,695 shares of the stock in a transaction on 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 completion of the sale, the insider 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 disclosure for this sale is available in the SEC filing. 0.82% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Citigroup lifted their price target on shares of CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Morgan Stanley raised their target price on shares of CDW from $170.00 to $171.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. UBS Group cut their target price on shares of CDW from $162.00 to $147.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. JPMorgan Chase & Co. upgraded shares of CDW from a “neutral” rating to an “overweight” rating and set a $130.00 target price for the company in a research note on Wednesday, May 27th. Finally, Weiss Ratings raised CDW from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

About CDW

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.