UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stake in CDW Corporation $CDW

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in CDW Corporation (NASDAQ:CDW) by 3.0% in the 2nd quarter, Holdings Channel reports. The fund owned 1,348,786 shares of the information technology services provider’s stock after acquiring an additional 39,044 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in CDW were worth $189,693,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Allied Private Wealth LLC bought a new stake in shares of CDW during the second quarter valued at approximately $28,000. Keating Financial Advisory Services Inc. purchased a new stake in CDW in the second quarter worth $28,000. Hollencrest Capital Management raised its holdings in CDW by 909.1% in the first quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 200 shares in the last quarter. Root Financial Partners LLC raised its holdings in CDW by 54.7% in the first quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 93 shares in the last quarter. Finally, Compass Financial Management LLC purchased a new position in CDW during the second quarter valued at $55,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on CDW shares. UBS Group dropped their target price 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. Barclays lowered their price target on shares of CDW from $144.00 to $123.00 and set an “equal weight” rating for the company in a research report on Thursday, May 7th. Raymond James Financial set a $150.00 price objective on shares of CDW in a research note on Wednesday, May 6th. Citigroup upped their price objective 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 note on Tuesday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $147.00.

Insider Activity at CDW

In other news, insider Elizabeth H. Connelly sold 26,695 shares of the stock in a transaction that occurred on 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 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 through the SEC website. 0.82% of the stock is currently owned by insiders.

CDW Price Performance

Shares of NASDAQ:CDW opened at $151.58 on Tuesday. CDW Corporation has a 1-year low of $97.12 and a 1-year high of $171.55. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.17 and a quick ratio of 1.05. The business has a fifty day moving average price of $138.29 and a 200-day moving average price of $128.62. The company has a market capitalization of $18.95 billion, a PE ratio of 18.22, a PEG ratio of 1.94 and a beta of 0.96.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.11. The firm had revenue of $6.57 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.60 EPS. As a group, equities analysts expect that CDW Corporation will post 10.33 EPS for the current fiscal year.

CDW Dividend Announcement

The company also recently announced 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. This represents a $2.52 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Tuesday, August 25th. CDW’s dividend payout ratio is currently 30.29%.

CDW Company 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.