EP Wealth Advisors LLC Invests $663,000 in CDW Corporation $CDW

EP Wealth Advisors LLC acquired a new stake in shares of CDW Corporation (NASDAQ:CDW) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 4,712 shares of the information technology services provider’s stock, valued at approximately $663,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Jones Financial Companies Lllp lifted its position in CDW by 316.0% during the first quarter. Jones Financial Companies Lllp now owns 4,896 shares of the information technology services provider’s stock valued at $785,000 after purchasing an additional 3,719 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of CDW by 1.2% during the first quarter. Empowered Funds LLC now owns 18,076 shares of the information technology services provider’s stock valued at $2,897,000 after purchasing an additional 216 shares during the period. California State Teachers Retirement System boosted its position in CDW by 0.6% in the 2nd quarter. California State Teachers Retirement System now owns 225,709 shares of the information technology services provider’s stock valued at $40,309,000 after buying an additional 1,242 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of CDW by 1,339.7% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 49,380 shares of the information technology services provider’s stock valued at $8,819,000 after purchasing an additional 45,950 shares during the period. Finally, State of Tennessee Department of Treasury grew its position in shares of CDW by 17.7% during the 2nd quarter. State of Tennessee Department of Treasury now owns 40,927 shares of the information technology services provider’s stock worth $7,309,000 after buying an additional 6,143 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors.

CDW Stock Performance

CDW opened at $132.51 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.17 and a debt-to-equity ratio of 1.97. CDW Corporation has a 52-week low of $97.12 and a 52-week high of $171.55. The company has a market cap of $16.57 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 1.81 and a beta of 0.96. The firm’s fifty day simple moving average is $136.39 and its two-hundred day simple moving average is $128.45.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.11. CDW had a return on equity of 50.61% and a net margin of 4.60%.The business had revenue of $6.57 billion during the quarter, compared to analysts’ expectations of $6.21 billion. During the same quarter in the prior year, the firm earned $2.60 earnings per share. The business’s revenue was up 10.0% compared to the same quarter last year. Equities analysts anticipate that CDW Corporation will post 10.28 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $2.52 annualized dividend and a dividend yield of 1.9%. CDW’s dividend payout ratio is 30.29%.

Analyst Ratings Changes

CDW has been the topic of several research reports. Morgan Stanley lifted their price objective on shares of CDW from $170.00 to $171.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. UBS Group cut their price objective on shares of CDW from $162.00 to $147.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Raymond James Financial set a $150.00 target price on CDW in a research note on Wednesday, May 6th. JPMorgan Chase & Co. upgraded shares of CDW from a “neutral” rating to an “overweight” rating and set a $130.00 price objective for the company in a research note on Wednesday, May 27th. Finally, Weiss Ratings raised CDW from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. One equities research 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $147.00.

Insider Buying and Selling at CDW

In other CDW news, Director David W. Nelms acquired 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was purchased at an average cost of $111.43 per share, with a total value of $2,005,740.00. Following the transaction, the director owned 51,025 shares of the company’s stock, valued at $5,685,715.75. This trade represents a 54.50% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 sale, the insider owned 34,215 shares of the company’s stock, valued at approximately $4,708,668.30. This represents a 43.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.82% of the stock is owned by company insiders.

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.