CDW Corporation $CDW Stake Raised by Phoenix Financial Ltd.

Phoenix Financial Ltd. grew its holdings in CDW Corporation (NASDAQ:CDW) by 9,945.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 145,662 shares of the information technology services provider’s stock after acquiring an additional 144,212 shares during the period. Phoenix Financial Ltd.’s holdings in CDW were worth $18,668,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CDW. Danske Bank A S increased its stake in shares of CDW by 0.7% during the third quarter. Danske Bank A S now owns 78,341 shares of the information technology services provider’s stock valued at $10,040,000 after buying an additional 532 shares during the period. Aberdeen Group plc raised its holdings in shares of CDW by 69.9% during the third quarter. Aberdeen Group plc now owns 229,912 shares of the information technology services provider’s stock valued at $29,466,000 after acquiring an additional 94,618 shares in the last quarter. Allworth Financial LP raised its holdings in shares of CDW by 1,902.0% during the third quarter. Allworth Financial LP now owns 23,584 shares of the information technology services provider’s stock valued at $3,023,000 after acquiring an additional 22,406 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in CDW by 324.4% in the third quarter. Russell Investments Group Ltd. now owns 235,940 shares of the information technology services provider’s stock worth $30,255,000 after acquiring an additional 180,344 shares during the period. Finally, Eurizon Capital SGR S.p.A. lifted its stake in CDW by 1,257.7% in the third quarter. Eurizon Capital SGR S.p.A. now owns 183,264 shares of the information technology services provider’s stock worth $23,487,000 after acquiring an additional 169,766 shares during the period. 93.15% of the stock is currently owned by institutional investors.

CDW Stock Down 0.7%

CDW stock traded down $1.14 during trading hours on Friday, hitting $171.65. 1,509,339 shares of the stock traded hands, compared to its average volume of 1,694,941. CDW Corporation has a one year low of $97.12 and a one year high of $175.19. The firm’s 50-day moving average price is $150.72 and its two-hundred day moving average price is $134.84. The company has a current ratio of 1.26, a quick ratio of 1.15 and a debt-to-equity ratio of 2.32. The company has a market cap of $21.42 billion, a PE ratio of 20.03, a PEG ratio of 1.52 and a beta of 0.92.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, November 4th. The information technology services provider reported $3.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.98 by $0.28. CDW had a return on equity of 52.23% and a net margin of 4.48%. The firm had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.19 billion. During the same quarter in the prior year, the company earned $2.71 EPS. The business’s revenue was up 17.7% compared to the same quarter last year. On average, research analysts forecast that CDW Corporation will post 10.38 EPS for the current year.

CDW Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 25th will be paid a $0.68 dividend. 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. This represents a $2.72 annualized dividend and a yield of 1.6%. CDW’s payout ratio is currently 29.40%.

Analyst Ratings Changes

Several research firms recently weighed in on CDW. Barclays cut their price target on shares of CDW from $150.00 to $148.00 and set an “equal weight” rating on the stock in a report on Monday, September 21st. JPMorgan Chase & Co. upped their price objective on shares of CDW from $170.00 to $195.00 and gave the stock an “overweight” rating in a report on Thursday, November 5th. Morgan Stanley upped 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. UBS Group raised their target price on shares of CDW from $159.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, November 5th. Finally, Citigroup lifted their target price on shares of CDW from $150.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday, November 5th. One investment 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $167.38.

CDW Profile

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.