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

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

Several other institutional investors also recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its stake in CDW by 20.5% in the 4th quarter. BNP Paribas Financial Markets now owns 284,965 shares of the information technology services provider’s stock worth $38,812,000 after purchasing an additional 48,547 shares in the last quarter. Pzena Investment Management LLC purchased a new position in shares of CDW during the second quarter valued at about $371,135,000. Fenimore Asset Management Inc grew its position in shares of CDW by 0.8% during the fourth quarter. Fenimore Asset Management Inc now owns 1,150,567 shares of the information technology services provider’s stock valued at $156,707,000 after purchasing an additional 9,485 shares in the last quarter. Commerzbank Aktiengesellschaft FI bought a new stake in shares of CDW in the first quarter worth about $1,587,000. Finally, BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of CDW by 35.5% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 66,926 shares of the information technology services provider’s stock worth $9,115,000 after purchasing an additional 17,541 shares during the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Trading Up 1.7%

CDW opened at $137.20 on Thursday. The firm has a market cap of $17.15 billion, a P/E ratio of 16.49, a P/E/G ratio of 1.78 and a beta of 0.96. CDW Corporation has a 12 month low of $97.12 and a 12 month high of $171.55. 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 stock has a 50-day moving average of $136.18 and a 200 day moving average of $128.28.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 50.61% and a net margin of 4.60%.The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.60 earnings per share. As a group, research analysts forecast that CDW Corporation will post 10.28 EPS for the current year.

CDW Announces Dividend

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

Insiders Place Their Bets

In related news, insider Elizabeth H. Connelly sold 26,695 shares of CDW stock in a transaction dated 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 directly owned 34,215 shares of the company’s stock, valued at approximately $4,708,668.30. The trade was a 43.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David W. Nelms purchased 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were purchased at an average price of $111.43 per share, for a total transaction of $2,005,740.00. Following the completion of the acquisition, the director directly owned 51,025 shares in the company, valued at $5,685,715.75. The trade was a 54.50% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CDW shares. UBS Group dropped their price target on CDW from $162.00 to $147.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Morgan Stanley lifted their price objective on CDW from $170.00 to $171.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Weiss Ratings raised CDW from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. Royal Bank Of Canada upgraded CDW to an “outperform” rating and set a $130.00 target price for the company in a research report on Wednesday, May 27th. Finally, Barclays reduced their price target on shares of CDW from $144.00 to $123.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 7th. One 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 data from MarketBeat, CDW has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

CDW 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.