CDW Corporation $CDW Stock Bought by Kestra Advisory Services LLC

Kestra Advisory Services LLC lifted its holdings in shares of CDW Corporation (NASDAQ:CDW) by 907.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 77,533 shares of the information technology services provider’s stock after purchasing an additional 69,837 shares during the quarter. Kestra Advisory Services LLC’s holdings in CDW were worth $9,937,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CDW. BlackRock Inc. acquired a new position in shares of CDW during the 2nd quarter worth approximately $2,143,082,000. Pzena Investment Management LLC acquired a new stake in CDW during the 2nd quarter valued at $371,135,000. Jupiter Topco LLC bought a new position in CDW during the second quarter worth $300,073,000. Bank of America Corp DE bought a new position in CDW during the second quarter worth $255,058,000. Finally, Assenagon Asset Management S.A. boosted its position in CDW by 2,947.4% during the third quarter. Assenagon Asset Management S.A. now owns 1,757,584 shares of the information technology services provider’s stock worth $225,252,000 after purchasing an additional 1,699,909 shares during the period. 93.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CDW has been the topic of several research reports. Weiss Ratings upgraded shares of CDW from a “hold (c-)” rating to a “hold (c)” rating in a report 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 research note on Thursday, August 6th. JPMorgan Chase & Co. raised their target price on shares of CDW from $170.00 to $195.00 and gave the stock an “overweight” rating in a research note on Thursday, November 5th. Citigroup lifted their target price on shares of CDW from $150.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, November 5th. Finally, UBS Group upped their price target on shares of CDW from $159.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, November 5th. 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $167.38.

CDW Stock Up 4.8%

Shares of CDW opened at $164.61 on Tuesday. CDW Corporation has a 12 month low of $97.12 and a 12 month high of $172.47. The firm’s 50 day moving average is $149.07 and its 200-day moving average is $133.95. The stock has a market capitalization of $20.58 billion, a PE ratio of 19.21, a P/E/G ratio of 2.21 and a beta of 0.92. The company has a current ratio of 1.26, a quick ratio of 1.05 and a debt-to-equity ratio of 2.32.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, November 4th. The information technology services provider reported $3.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.98 by $0.28. The company had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.19 billion. CDW had a net margin of 4.48% and a return on equity of 52.23%. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.71 earnings per share. Equities research analysts forecast that CDW Corporation will post 10.33 EPS for the current year.

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 25th will be paid a dividend of $0.68 per share. This is a boost from CDW’s previous quarterly dividend of $0.63. The ex-dividend date is Wednesday, November 25th. This represents a $2.72 dividend on an annualized basis and a yield of 1.7%. CDW’s dividend payout ratio is 29.40%.

About CDW

CDW Corporation is a provider of information technology products and services to businesses, government agencies, educational institutions and healthcare organizations. The company helps customers select, purchase, implement and manage technology solutions.

Its offerings include computers and other hardware, software, cloud services, cybersecurity, networking, data center infrastructure and collaboration tools. CDW also provides consulting, integration and ongoing technology support, helping customers plan and operate their IT environments.

Founded in 1984 as Computer Discount Warehouse, the company later adopted the CDW name.