Pacer Advisors Inc. Has $2.76 Million Stock Position in CDW (NASDAQ:CDW)

Pacer Advisors Inc. raised its position in shares of CDW (NASDAQ:CDW) by 67.9% in the 2nd quarter, Holdings Channel reports. The firm owned 23,745 shares of the information technology services provider’s stock after acquiring an additional 9,602 shares during the period. Pacer Advisors Inc.’s holdings in CDW were worth $2,759,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CDW. Cabot Wealth Management Inc. increased its holdings in shares of CDW by 1.8% during the first quarter. Cabot Wealth Management Inc. now owns 65,683 shares of the information technology services provider’s stock worth $6,126,000 after buying an additional 1,155 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of CDW by 134.1% during the first quarter. BNP Paribas Arbitrage SA now owns 99,090 shares of the information technology services provider’s stock worth $9,242,000 after buying an additional 56,759 shares in the last quarter. Alberta Investment Management Corp acquired a new position in shares of CDW during the first quarter worth $1,296,000. Principal Financial Group Inc. increased its holdings in shares of CDW by 1.5% during the first quarter. Principal Financial Group Inc. now owns 222,126 shares of the information technology services provider’s stock worth $20,718,000 after buying an additional 3,243 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of CDW by 1.2% during the second quarter. Envestnet Asset Management Inc. now owns 476,186 shares of the information technology services provider’s stock worth $55,323,000 after buying an additional 5,802 shares in the last quarter. Institutional investors and hedge funds own 90.22% of the company’s stock.

Several research analysts have recently issued reports on CDW shares. Credit Suisse Group lowered their price target on shares of CDW from $155.00 to $127.00 and set an “outperform” rating for the company in a report on Friday, April 17th. JPMorgan Chase & Co. cut shares of CDW from a “neutral” rating to an “underweight” rating and set a $115.00 price objective on the stock. in a research note on Tuesday, June 9th. They noted that the move was a valuation call. Morgan Stanley raised shares of CDW from an “underweight” rating to an “equal weight” rating and set a $120.00 price objective on the stock in a research note on Tuesday, June 9th. Raymond James raised shares of CDW from a “market perform” rating to an “outperform” rating and set a $140.00 price objective on the stock in a research note on Monday, June 29th. Finally, Cfra reduced their price objective on shares of CDW from $139.00 to $120.00 and set a “hold” rating on the stock in a research note on Thursday, May 7th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $125.88.

Shares of CDW opened at $116.25 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.10 and a debt-to-equity ratio of 4.01. The stock has a market capitalization of $16.54 billion, a P/E ratio of 18.72, a price-to-earnings-growth ratio of 1.70 and a beta of 1.19. The firm’s fifty day simple moving average is $115.38 and its two-hundred day simple moving average is $114.48. CDW has a 12 month low of $73.39 and a 12 month high of $146.09.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, May 6th. The information technology services provider reported $1.38 EPS for the quarter, beating the Zacks’ consensus estimate of $1.34 by $0.04. The business had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.38 billion. CDW had a net margin of 4.07% and a return on equity of 97.93%. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.24 earnings per share. As a group, research analysts predict that CDW will post 5.21 EPS for the current fiscal year.

In other news, insider Douglas E. Eckrote sold 5,000 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $106.97, for a total transaction of $534,850.00. Following the transaction, the insider now owns 141,533 shares of the company’s stock, valued at approximately $15,139,785.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Matthew A. Troka sold 7,001 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $100.99, for a total transaction of $707,030.99. Following the transaction, the insider now directly owns 67,492 shares in the company, valued at approximately $6,816,017.08. The disclosure for this sale can be found here. Corporate insiders own 1.33% of the company’s stock.

About CDW

CDW Corporation provides integrated information technology (IT) solutions to business, government, education, and healthcare customers in the United States, Canada, and the United Kingdom. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products, as well as integrated IT solutions, including mobility, security, data center optimization, cloud computing, virtualization, and collaboration.

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Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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