United Capital Financial Advisors LLC Takes Position in CDW Corporation $CDW

United Capital Financial Advisors LLC bought a new stake in shares of CDW Corporation (NASDAQ:CDW) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 4,288 shares of the information technology services provider’s stock, valued at approximately $603,000.

A number of other large investors also recently added to or reduced their stakes in the business. Hollencrest Capital Management lifted its stake in CDW by 909.1% in the first quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 200 shares during the last quarter. Allied Private Wealth LLC bought a new position in shares of CDW during the second quarter valued at about $28,000. Keating Financial Advisory Services Inc. purchased a new position in shares of CDW in the second quarter worth about $28,000. Root Financial Partners LLC increased its holdings 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 buying an additional 93 shares during the period. Finally, Johnson Financial Group Inc. bought a new stake in shares of CDW in the 2nd quarter valued at about $51,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

Shares of CDW stock opened at $151.58 on Tuesday. CDW Corporation has a 12 month low of $97.12 and a 12 month high of $171.55. The firm has a market capitalization of $18.95 billion, a P/E ratio of 18.22, a P/E/G ratio of 1.94 and a beta of 0.96. The company has a current ratio of 1.17, a quick ratio of 1.05 and a debt-to-equity ratio of 1.97. The business has a fifty day simple moving average of $138.29 and a two-hundred day simple moving average of $128.62.

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

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders 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 yield of 1.7%. The ex-dividend date is Tuesday, August 25th. CDW’s dividend payout ratio is 30.29%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CDW. Raymond James Financial set a $150.00 price target on CDW in a research report on Wednesday, May 6th. Morgan Stanley boosted their price objective on CDW from $170.00 to $171.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Barclays cut their target price on shares of CDW from $144.00 to $123.00 and set an “equal weight” rating on the stock in a report on Thursday, May 7th. JPMorgan Chase & Co. raised shares of CDW from a “neutral” rating to an “overweight” rating and set a $130.00 target price on the stock in a research note on Wednesday, May 27th. Finally, Royal Bank Of Canada upgraded shares of CDW to an “outperform” rating and set a $130.00 price target for the company in a report on Wednesday, May 27th. One equities 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $147.00.

Insider Buying and Selling at CDW

In other CDW news, insider Elizabeth H. Connelly sold 26,695 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $137.62, for a total transaction of $3,673,765.90. Following the completion of the transaction, the insider owned 34,215 shares of the company’s stock, valued at approximately $4,708,668.30. This trade represents a 43.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.82% of the company’s stock.

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.