United Capital Financial Advisors LLC Acquires New Shares in CDW Corporation $CDW

United Capital Financial Advisors LLC purchased a new stake in shares of CDW Corporation (NASDAQ:CDW) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,288 shares of the information technology services provider’s stock, valued at approximately $603,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CDW. Jones Financial Companies Lllp increased its holdings in CDW by 316.0% during the 1st quarter. Jones Financial Companies Lllp now owns 4,896 shares of the information technology services provider’s stock worth $785,000 after acquiring an additional 3,719 shares during the period. Empowered Funds LLC grew its position in shares of 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 purchasing an additional 216 shares in the last quarter. California State Teachers Retirement System grew its position in shares of CDW by 0.6% during the 2nd quarter. California State Teachers Retirement System now owns 225,709 shares of the information technology services provider’s stock valued at $40,309,000 after purchasing an additional 1,242 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of CDW by 1,339.7% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 49,380 shares of the information technology services provider’s stock worth $8,819,000 after purchasing an additional 45,950 shares during the period. Finally, State of Tennessee Department of Treasury increased its holdings in shares of CDW by 17.7% in the second quarter. State of Tennessee Department of Treasury now owns 40,927 shares of the information technology services provider’s stock worth $7,309,000 after purchasing an additional 6,143 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CDW has been the subject of several research analyst reports. Morgan Stanley lifted their price objective on CDW from $170.00 to $171.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Royal Bank Of Canada upgraded CDW to an “outperform” rating and set a $130.00 target price on the stock in a research note on Wednesday, May 27th. Citigroup raised their price target on CDW from $123.00 to $145.00 and gave the company a “neutral” rating in a report on Monday, July 13th. JPMorgan Chase & Co. upgraded CDW from a “neutral” rating to an “overweight” rating and set a $130.00 price target for the company in a research report on Wednesday, May 27th. Finally, Weiss Ratings raised CDW from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, CDW has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

CDW Stock Performance

CDW stock opened at $151.58 on Tuesday. CDW Corporation has a fifty-two week low of $97.12 and a fifty-two week high of $171.55. 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 stock has a market cap of $18.95 billion, a P/E ratio of 18.22, a price-to-earnings-growth ratio of 1.94 and a beta of 0.96. The firm’s fifty day moving average price is $138.29 and its 200-day moving average price is $128.62.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.11. The company had revenue of $6.57 billion during the quarter, compared to analyst estimates of $6.21 billion. CDW had a net margin of 4.60% and a return on equity of 50.61%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.60 earnings per share. On average, equities research analysts expect that CDW Corporation will post 10.33 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Tuesday, August 25th. CDW’s dividend payout ratio is presently 30.29%.

Insider Activity

In other news, insider Elizabeth H. Connelly sold 26,695 shares of the stock in a transaction dated 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 approximately $4,708,668.30. This represents a 43.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.82% of the company’s stock.

CDW Company 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.