Zacks Investment Management Has $2.63 Million Position in CDW (NASDAQ:CDW)

Zacks Investment Management grew its holdings in shares of CDW (NASDAQ:CDW) by 0.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,654 shares of the information technology services provider’s stock after acquiring an additional 152 shares during the period. Zacks Investment Management’s holdings in CDW were worth $2,626,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CDW. Nuveen Asset Management LLC grew its holdings in CDW by 1,275.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,833,992 shares of the information technology services provider’s stock worth $203,573,000 after acquiring an additional 1,700,702 shares during the period. AQR Capital Management LLC grew its stake in shares of CDW by 65.6% in the 1st quarter. AQR Capital Management LLC now owns 3,418,230 shares of the information technology services provider’s stock valued at $328,150,000 after buying an additional 1,354,651 shares during the period. Invesco Ltd. grew its stake in shares of CDW by 2,308.0% in the 2nd quarter. Invesco Ltd. now owns 913,715 shares of the information technology services provider’s stock valued at $101,423,000 after buying an additional 875,770 shares during the period. Bessemer Group Inc. grew its stake in shares of CDW by 4,756.9% in the 2nd quarter. Bessemer Group Inc. now owns 817,171 shares of the information technology services provider’s stock valued at $90,707,000 after buying an additional 800,346 shares during the period. Finally, Wells Fargo & Company MN grew its stake in shares of CDW by 37.3% in the 2nd quarter. Wells Fargo & Company MN now owns 2,226,277 shares of the information technology services provider’s stock valued at $247,117,000 after buying an additional 604,539 shares during the period. Hedge funds and other institutional investors own 91.38% of the company’s stock.

Shares of CDW stock traded up $2.83 during mid-day trading on Wednesday, hitting $121.49. 736,344 shares of the stock were exchanged, compared to its average volume of 2,481,809. CDW has a 12 month low of $74.32 and a 12 month high of $122.91. The company has a 50-day simple moving average of $114.53 and a 200 day simple moving average of $107.81. The company has a debt-to-equity ratio of 3.57, a quick ratio of 1.09 and a current ratio of 1.28. The company has a market capitalization of $17.52 billion, a P/E ratio of 23.82, a P/E/G ratio of 1.65 and a beta of 1.10.



CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, July 31st. The information technology services provider reported $1.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.10. CDW had a net margin of 4.07% and a return on equity of 82.78%. The firm had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.50 billion. During the same quarter last year, the firm earned $1.38 EPS. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. Analysts predict that CDW will post 5.62 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were given a dividend of $0.295 per share. The ex-dividend date was Friday, August 23rd. This represents a $1.18 annualized dividend and a dividend yield of 0.97%. CDW’s dividend payout ratio is currently 23.14%.

CDW has been the topic of several recent research reports. JPMorgan Chase & Co. cut shares of CDW from a “neutral” rating to an “underweight” rating and set a $116.00 price target on the stock. in a research report on Monday, August 5th. They noted that the move was a valuation call. BidaskClub raised shares of CDW from a “hold” rating to a “buy” rating in a research report on Tuesday, July 2nd. Deutsche Bank initiated coverage on shares of CDW in a research report on Tuesday, June 11th. They issued a “buy” rating and a $113.00 price target on the stock. Credit Suisse Group raised their price target on shares of CDW from $118.00 to $132.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, Morgan Stanley raised their price target on shares of CDW from $97.00 to $106.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $118.13.

In related news, insider Neil B. Fairfield sold 2,118 shares of CDW stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $118.12, for a total value of $250,178.16. Following the sale, the insider now owns 7,054 shares of the company’s stock, valued at approximately $833,218.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert F. Kirby sold 1,300 shares of CDW stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $116.22, for a total transaction of $151,086.00. Following the completion of the sale, the insider now directly owns 35,070 shares in the company, valued at approximately $4,075,835.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 130,673 shares of company stock worth $14,744,616. Insiders own 2.25% 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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