CDW Corporation $CDW Stock Holdings Increased by Sterling Capital Management LLC

Sterling Capital Management LLC grew its holdings in CDW Corporation (NASDAQ:CDW) by 682.9% in the 3rd quarter, according to 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 acquiring an additional 26,866 shares during the period. Sterling Capital Management LLC’s holdings in CDW were worth $3,947,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Union Savings Bank increased its stake in shares of CDW by 500.0% during the 3rd quarter. Union Savings Bank now owns 192 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 160 shares during the last quarter. Hollencrest Capital Management lifted its stake in shares of CDW by 909.1% in the 1st quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 200 shares during the last quarter. Allied Private Wealth LLC acquired a new stake in shares of CDW in the 2nd quarter valued at $28,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of CDW in the 2nd quarter valued at $28,000. Finally, Community Bank N.A. bought a new stake in CDW in the second quarter worth $31,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

CDW has been the subject of a number of recent research reports. Morgan Stanley upped their price objective 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 raised their target price on CDW from $123.00 to $145.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Weiss Ratings raised CDW from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. Finally, Barclays reduced their price target on 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 analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $150.12.

CDW Stock Up 0.3%

Shares of CDW stock opened at $165.11 on Friday. 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. The stock has a 50 day moving average price of $144.83 and a two-hundred day moving average price of $135.12. The stock has a market capitalization of $20.64 billion, a P/E ratio of 19.84, a PEG ratio of 2.16 and a beta of 0.95.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 EPS for the quarter, beating 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 company had revenue of $6.57 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same quarter last year, the firm posted $2.60 earnings per share. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. Equities analysts expect that CDW Corporation will post 10.33 earnings per share for the current 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 issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, August 25th. CDW’s dividend payout ratio is currently 30.29%.

Insider Activity

In related news, insider Elizabeth Connelly sold 26,695 shares of the company’s stock in a transaction 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 sale, the insider directly owned 34,215 shares of the company’s stock, valued at approximately $4,708,668.30. This represents a 43.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.82% of the company’s stock.

CDW Company 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.