CDW Corporation $CDW Stock Holdings Raised by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. increased its position in shares of CDW Corporation (NASDAQ:CDW) by 75.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 142,560 shares of the information technology services provider’s stock after buying an additional 61,280 shares during the period. Crossmark Global Holdings Inc. owned 0.11% of CDW worth $18,270,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. bought a new position in CDW in the 2nd quarter valued at about $2,143,082,000. Pzena Investment Management LLC acquired a new stake in shares of CDW during the 2nd quarter worth approximately $371,135,000. Jupiter Topco LLC acquired a new position in CDW during the second quarter worth about $300,073,000. Alyeska Investment Group L.P. grew its stake in shares of CDW by 197.1% during the second quarter. Alyeska Investment Group L.P. now owns 1,854,952 shares of the information technology services provider’s stock worth $260,880,000 after buying an additional 1,230,517 shares during the last quarter. Finally, Bank of America Corp DE bought a new stake in shares of CDW during the second quarter worth about $255,058,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

Insider Buying and Selling

In other CDW news, insider Elizabeth Connelly sold 26,695 shares of the company’s 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 completion of the sale, the insider directly owned 34,215 shares in the company, valued at $4,708,668.30. This represents a 43.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.82% of the stock is currently owned by insiders.

CDW Stock Up 2.1%

CDW stock opened at $158.28 on Thursday. The company’s 50 day moving average is $143.86 and its 200 day moving average is $134.61. The stock has a market cap of $19.79 billion, a price-to-earnings ratio of 19.02, a price-to-earnings-growth ratio of 2.03 and a beta of 0.95. The company has a current ratio of 1.17, a quick ratio of 1.05 and a debt-to-equity ratio of 1.97. CDW Corporation has a 1-year low of $97.12 and a 1-year high of $161.10.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.11. CDW had a net margin of 4.60% and a return on equity of 50.61%. The firm 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 posted $2.60 EPS. The business’s quarterly revenue was up 10.0% on a year-over-year basis. Sell-side analysts predict that CDW Corporation will post 10.33 EPS for the current fiscal year.

CDW Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have weighed in on CDW shares. Morgan Stanley increased their price target on CDW from $170.00 to $171.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Citigroup boosted their target price on CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Weiss Ratings raised CDW from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. Finally, Barclays reduced their price objective 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 issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $150.12.

About CDW

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.