CDW Corporation $CDW Stock Acquired by Sowell Financial Services LLC

Sowell Financial Services LLC lifted its holdings in shares of CDW Corporation (NASDAQ:CDW) by 113.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,779 shares of the information technology services provider’s stock after purchasing an additional 4,128 shares during the quarter. Sowell Financial Services LLC’s holdings in CDW were worth $997,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Union Savings Bank grew its holdings in shares of CDW by 500.0% in the third quarter. Union Savings Bank now owns 192 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 160 shares in the last quarter. Manchester Capital Management LLC lifted its holdings in CDW by 10,200.0% during the 3rd quarter. Manchester Capital Management LLC now owns 206 shares of the information technology services provider’s stock worth $26,000 after buying an additional 204 shares in the last quarter. Hollencrest Capital Management lifted its holdings in CDW by 909.1% during the 1st quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock worth $27,000 after buying an additional 200 shares in the last quarter. Allied Private Wealth LLC acquired a new stake in CDW during the 2nd quarter worth approximately $28,000. Finally, Keating Financial Advisory Services Inc. acquired a new stake in CDW during the 2nd quarter worth approximately $28,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

Shares of CDW opened at $153.79 on Monday. The stock has a 50 day moving average price of $147.08 and a 200 day moving average price of $133.12. 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 company has a market capitalization of $19.23 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 2.02 and a beta of 0.92. CDW Corporation has a 52-week low of $97.12 and a 52-week high of $166.15.

CDW (NASDAQ:CDW) last released its quarterly earnings data 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 company had revenue of $6.57 billion for the quarter, compared to analysts’ expectations of $6.21 billion. During the same quarter last year, the company earned $2.60 earnings per share. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. Research analysts predict that CDW Corporation will post 10.33 EPS for the current fiscal year.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th were issued a $0.63 dividend. The ex-dividend date was Tuesday, August 25th. This represents a $2.52 annualized dividend and a dividend yield of 1.6%. CDW’s dividend payout ratio is presently 30.29%.

Insider Activity at CDW

In related news, insider Elizabeth Connelly sold 26,695 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $137.62, for a total value of $3,673,765.90. Following the transaction, the insider directly owned 34,215 shares of the company’s stock, valued at $4,708,668.30. This trade represents a 43.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.82% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on CDW. Citigroup boosted their price target on shares of CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Morgan Stanley increased their price objective on CDW from $170.00 to $171.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Weiss Ratings upgraded CDW from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. Finally, Barclays decreased their target price on CDW from $150.00 to $148.00 and set an “equal weight” rating for the company in a report on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, CDW currently has an average rating of “Moderate Buy” and an average price target of $150.12.

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.