Sanctuary Advisors LLC Acquires Shares of 10,360 CDW Corporation $CDW

Sanctuary Advisors LLC bought a new position in CDW Corporation (NASDAQ:CDW) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,360 shares of the information technology services provider’s stock, valued at approximately $1,457,000.

Other hedge funds have also recently made changes to their positions in the company. Jones Financial Companies Lllp grew its stake in shares of CDW by 316.0% during the 1st quarter. Jones Financial Companies Lllp now owns 4,896 shares of the information technology services provider’s stock worth $785,000 after acquiring an additional 3,719 shares during the period. Empowered Funds LLC lifted its holdings in 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 last quarter. California State Teachers Retirement System lifted its holdings in CDW by 0.6% during the second 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 purchasing an additional 1,242 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its position in CDW by 1,339.7% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 49,380 shares of the information technology services provider’s stock worth $8,819,000 after purchasing an additional 45,950 shares during the period. Finally, State of Tennessee Department of Treasury boosted its position in CDW by 17.7% during the second 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 purchasing an additional 6,143 shares during the period. 93.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CDW has been the topic of several research reports. Citigroup boosted their price target on shares of CDW from $123.00 to $145.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Morgan Stanley raised their price objective on shares of CDW from $170.00 to $171.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Barclays reduced their price objective on shares of CDW from $144.00 to $123.00 and set an “equal weight” rating for the company in a research note on Thursday, May 7th. Weiss Ratings raised shares of CDW from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday. Finally, Raymond James Financial set a $150.00 target price on CDW in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

Insider Buying and Selling

In other news, insider Elizabeth H. Connelly sold 26,695 shares of the business’s stock in a transaction 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 completion of the transaction, the insider directly owned 34,215 shares in the company, valued at $4,708,668.30. The trade was a 43.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.82% of the stock is currently owned by insiders.

CDW Stock Down 0.4%

CDW stock opened at $141.46 on Thursday. The stock has a 50-day simple moving average of $136.93 and a two-hundred day simple moving average of $128.49. CDW Corporation has a twelve month low of $97.12 and a twelve month high of $171.55. The firm has a market capitalization of $17.69 billion, a PE ratio of 17.00, a PEG ratio of 1.87 and a beta of 0.96. 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 (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $6.21 billion. During the same period in the prior year, the firm posted $2.60 earnings per share. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, equities analysts predict that CDW Corporation will post 10.28 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. Shareholders of record on Tuesday, August 25th will be paid a $0.63 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $2.52 annualized dividend and a yield of 1.8%. CDW’s dividend payout ratio is currently 30.29%.

About CDW

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.