CDW Corporation $CDW Shares Bought by Sterling Capital Management LLC

Sterling Capital Management LLC lifted its stake in shares of CDW Corporation (NASDAQ:CDW) by 682.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,800 shares of the information technology services provider’s stock after purchasing an additional 26,866 shares during the quarter. Sterling Capital Management LLC’s holdings in CDW were worth $3,947,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Union Savings Bank grew its position 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 buying an additional 160 shares in the last quarter. Hollencrest Capital Management raised 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 in the last quarter. Allied Private Wealth LLC bought a new stake in shares of CDW during the 2nd quarter worth about $28,000. Keating Financial Advisory Services Inc. bought a new stake in shares of CDW during the 2nd quarter worth about $28,000. Finally, Community Bank N.A. bought a new stake in shares of CDW during the 2nd quarter worth about $31,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CDW shares. Weiss Ratings raised CDW from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. 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. Citigroup lifted 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. Finally, Barclays dropped their target price on CDW from $150.00 to $148.00 and set an “equal weight” rating on the stock in a report on Monday, September 21st. One 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 stock. According to MarketBeat.com, CDW currently has a consensus rating of “Moderate Buy” and an average price target of $150.12.

CDW Stock Up 0.3%

CDW stock opened at $165.11 on Friday. The company has a 50 day moving average of $144.83 and a two-hundred day moving average of $135.12. The company has a market cap of $20.64 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 2.16 and a beta of 0.95. CDW Corporation has a 12-month low of $97.12 and a 12-month high of $166.15. The company has a quick ratio of 1.05, a current ratio of 1.17 and a debt-to-equity ratio of 1.97.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 EPS for the quarter, beating 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 business had revenue of $6.57 billion for the quarter, compared to analysts’ expectations of $6.21 billion. During the same period in the previous year, the company posted $2.60 EPS. CDW’s revenue was up 10.0% on a year-over-year basis. On average, equities analysts anticipate that CDW Corporation will post 10.33 earnings per share for the current fiscal year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Tuesday, August 25th were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Tuesday, August 25th. This represents a $2.52 dividend on an annualized basis and a yield of 1.5%. CDW’s dividend payout ratio (DPR) is presently 30.29%.

Insider Buying and Selling

In other CDW news, insider Elizabeth Connelly sold 26,695 shares of the company’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. This represents a 43.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.82% of the stock is owned by company insiders.

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.