Nisa Investment Advisors LLC Buys 327,577 Shares of CDW Corporation $CDW

Nisa Investment Advisors LLC grew its stake in CDW Corporation (NASDAQ:CDW) by 15,696.1% during the 3rd quarter, Holdings Channel reports. The firm owned 329,664 shares of the information technology services provider’s stock after purchasing an additional 327,577 shares during the quarter. Nisa Investment Advisors LLC’s holdings in CDW were worth $42,250,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Parkside Financial Bank & Trust raised its position in shares of CDW by 48.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 268 shares of the information technology services provider’s stock worth $38,000 after purchasing an additional 87 shares during the last quarter. V Square Quantitative Management LLC boosted its holdings in CDW by 2.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,252 shares of the information technology services provider’s stock worth $417,000 after buying an additional 89 shares during the last quarter. Root Financial Partners LLC boosted its holdings in CDW by 54.7% in the 1st quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider’s stock worth $32,000 after buying an additional 93 shares during the last quarter. CX Institutional boosted its holdings in CDW by 4.0% in the 3rd quarter. CX Institutional now owns 2,585 shares of the information technology services provider’s stock worth $331,000 after buying an additional 99 shares during the last quarter. Finally, Studio Investment Management LLC increased its stake in CDW by 6.0% during the 2nd quarter. Studio Investment Management LLC now owns 2,667 shares of the information technology services provider’s stock worth $375,000 after buying an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

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 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. The trade was a 43.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.82% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Weiss Ratings raised CDW from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. Citigroup raised their target price on CDW from $123.00 to $145.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Barclays lowered their price target on CDW from $150.00 to $148.00 and set an “equal weight” rating on the stock in a research note on Monday, September 21st. Finally, Morgan Stanley boosted their price target on CDW from $170.00 to $171.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. One 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $150.12.

CDW Price Performance

CDW stock opened at $154.99 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 1.05 and a debt-to-equity ratio of 1.97. The company has a 50-day moving average price of $143.43 and a 200 day moving average price of $134.35. CDW Corporation has a 12-month low of $97.12 and a 12-month high of $161.10. The stock has a market cap of $19.38 billion, a P/E ratio of 18.63, a PEG ratio of 2.00 and a beta of 0.95.

CDW (NASDAQ:CDW) last posted its earnings results 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. The company had revenue of $6.57 billion for the quarter, compared to analyst estimates of $6.21 billion. CDW had a net margin of 4.60% and a return on equity of 50.61%. CDW’s revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.60 EPS. Sell-side analysts anticipate that CDW Corporation will post 10.33 earnings per share for the current year.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th were issued a dividend of $0.63 per share. The ex-dividend date 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 (DPR) is currently 30.29%.

CDW Profile

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.