Vestor Capital LLC Acquires 68,478 Shares of CDW Corporation $CDW

Vestor Capital LLC boosted its holdings in CDW Corporation (NASDAQ:CDW) by 1,309.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 73,706 shares of the information technology services provider’s stock after purchasing an additional 68,478 shares during the quarter. Vestor Capital LLC owned about 0.06% of CDW worth $9,446,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CDW. Kestra Investment Management LLC increased its stake in shares of CDW by 58.2% in the 3rd quarter. Kestra Investment Management LLC now owns 3,616 shares of the information technology services provider’s stock valued at $463,000 after acquiring an additional 1,331 shares in the last quarter. Retirement Systems of Alabama boosted its stake in CDW by 666.1% during the third quarter. Retirement Systems of Alabama now owns 205,613 shares of the information technology services provider’s stock worth $26,351,000 after acquiring an additional 178,773 shares in the last quarter. Entrust Financial LLC boosted its stake in CDW by 198.8% during the third quarter. Entrust Financial LLC now owns 484 shares of the information technology services provider’s stock worth $62,000 after acquiring an additional 322 shares in the last quarter. Avion Wealth boosted its stake in CDW by 3,263.6% during the third quarter. Avion Wealth now owns 370 shares of the information technology services provider’s stock worth $47,000 after acquiring an additional 359 shares in the last quarter. Finally, Hohimer Wealth Management LLC grew its holdings in CDW by 199.7% in the third quarter. Hohimer Wealth Management LLC now owns 126,782 shares of the information technology services provider’s stock worth $16,248,000 after purchasing an additional 84,480 shares during the period. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Stock Performance

CDW opened at $164.61 on Tuesday. CDW Corporation has a 1-year low of $97.12 and a 1-year high of $172.47. The company has a market cap of $20.58 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 2.21 and a beta of 0.92. The company’s fifty day moving average price is $149.07 and its two-hundred day moving average price is $133.95. The company has a current ratio of 1.26, a quick ratio of 1.05 and a debt-to-equity ratio of 2.32.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, November 4th. The information technology services provider reported $3.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.98 by $0.28. The firm had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.19 billion. CDW had a net margin of 4.48% and a return on equity of 52.23%. The business’s revenue was up 17.7% on a year-over-year basis. During the same period last year, the company earned $2.71 earnings per share. On average, analysts expect that CDW Corporation will post 10.33 EPS for the current fiscal year.

CDW Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 25th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, November 25th. This is a positive change from CDW’s previous quarterly dividend of $0.63. CDW’s payout ratio is 29.40%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Barclays decreased their price target on shares of CDW from $150.00 to $148.00 and set an “equal weight” rating for the company in a research note on Monday, September 21st. Morgan Stanley increased their price objective on shares of CDW from $170.00 to $171.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Citigroup raised their target price on CDW from $150.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday, November 5th. JPMorgan Chase & Co. raised their target price on CDW from $170.00 to $195.00 and gave the company an “overweight” rating in a research note on Thursday, November 5th. Finally, UBS Group boosted their target price on CDW from $159.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, CDW has an average rating of “Moderate Buy” and a consensus target price of $167.38.

About CDW

CDW Corporation is a provider of information technology products and services to businesses, government agencies, educational institutions and healthcare organizations. The company helps customers select, purchase, implement and manage technology solutions.

Its offerings include computers and other hardware, software, cloud services, cybersecurity, networking, data center infrastructure and collaboration tools. CDW also provides consulting, integration and ongoing technology support, helping customers plan and operate their IT environments.

Founded in 1984 as Computer Discount Warehouse, the company later adopted the CDW name.