ProShare Advisors LLC lifted its position in CDW Corporation (NASDAQ:CDW – Free Report) by 7.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 77,719 shares of the information technology services provider’s stock after buying an additional 5,467 shares during the quarter. ProShare Advisors LLC’s holdings in CDW were worth $9,960,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Kendall Capital Management acquired a new stake in CDW in the second quarter valued at approximately $3,584,000. Man Group plc acquired a new position in shares of CDW during the 2nd quarter worth $1,262,000. Raiffeisen Bank International AG increased its stake in shares of CDW by 17,453.5% during the 2nd quarter. Raiffeisen Bank International AG now owns 15,096 shares of the information technology services provider’s stock worth $2,111,000 after purchasing an additional 15,010 shares during the last quarter. Pzena Investment Management LLC acquired a new position in shares of CDW during the 2nd quarter worth $371,135,000. Finally, Jupiter Topco LLC bought a new position in shares of CDW during the 2nd quarter valued at $300,073,000. Institutional investors and hedge funds own 93.15% of the company’s stock.
Wall Street Analyst Weigh In
CDW has been the subject of several analyst reports. Weiss Ratings raised shares of CDW from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. Barclays cut their target price on CDW from $150.00 to $148.00 and set an “equal weight” rating on the stock in a report on Monday, September 21st. Citigroup boosted their price target on CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. 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 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $150.12.
View Our Latest Analysis on CDW
CDW Stock Down 0.5%
Shares of CDW stock opened at $149.77 on Wednesday. CDW Corporation has a 12-month low of $97.12 and a 12-month high of $166.15. The company has a quick ratio of 1.05, a current ratio of 1.17 and a debt-to-equity ratio of 1.97. The stock has a 50 day moving average price of $147.70 and a two-hundred day moving average price of $133.29. The stock has a market capitalization of $18.72 billion, a P/E ratio of 18.00, a PEG ratio of 1.97 and a beta of 0.92.
CDW (NASDAQ:CDW – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 EPS for the quarter, beating 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 company had revenue of $6.57 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same quarter last year, the firm posted $2.60 earnings per share. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. Equities analysts expect that CDW Corporation will post 10.33 earnings per share for the current year.
Insider Activity
In related news, insider Elizabeth Connelly sold 26,695 shares of the company’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 sale, the insider directly owned 34,215 shares of the company’s stock, valued at approximately $4,708,668.30. This represents a 43.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.82% of the company’s stock.
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.
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