Vest Financial LLC Buys 1,189,902 Shares of CDW Corporation $CDW

Vest Financial LLC boosted its stake in shares of CDW Corporation (NASDAQ:CDW) by 6,126.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,209,324 shares of the information technology services provider’s stock after buying an additional 1,189,902 shares during the quarter. CDW accounts for 1.6% of Vest Financial LLC’s investment portfolio, making the stock its 4th biggest position. Vest Financial LLC’s holdings in CDW were worth $154,987,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in CDW in the second quarter valued at approximately $2,143,082,000. Pzena Investment Management LLC bought a new stake in shares of CDW during the 2nd quarter worth approximately $371,135,000. Jupiter Topco LLC bought a new stake in shares of CDW during the 2nd quarter worth approximately $300,073,000. Alyeska Investment Group L.P. raised its stake in shares of CDW by 197.1% during the 2nd 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 purchasing an additional 1,230,517 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in shares of CDW during the 2nd quarter worth approximately $255,058,000. 93.15% of the stock is currently owned by institutional investors.

CDW Trading Up 2.1%

Shares of NASDAQ:CDW opened at $158.28 on Thursday. CDW Corporation has a 52-week low of $97.12 and a 52-week high of $161.10. The company has a market capitalization of $19.79 billion, a P/E ratio of 19.02, a price-to-earnings-growth ratio of 2.03 and a beta of 0.95. The company has a 50-day simple moving average of $143.86 and a 200 day simple moving average of $134.61. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.05 and a current ratio of 1.17.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.11. The business had revenue of $6.57 billion during the quarter, compared to analysts’ expectations of $6.21 billion. CDW had a return on equity of 50.61% and a net margin of 4.60%. CDW’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the company posted $2.60 earnings per share. Sell-side analysts forecast that CDW Corporation will post 10.33 earnings per share for the current year.

CDW Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CDW shares. Barclays cut 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. Morgan Stanley boosted their target price on shares of 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 shares of CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Finally, Weiss Ratings raised shares of CDW from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $150.12.

Insider Activity

In other news, insider Elizabeth Connelly sold 26,695 shares of CDW stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $137.62, for a total transaction of $3,673,765.90. Following the completion of the transaction, the insider directly owned 34,215 shares in the company, valued at approximately $4,708,668.30. The trade was a 43.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.82% of the stock is currently owned by insiders.

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.