Sanctuary Advisors LLC Takes $1.46 Million Position in CDW Corporation $CDW

Sanctuary Advisors LLC acquired a new position in shares of CDW Corporation (NASDAQ:CDW) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,360 shares of the information technology services provider’s stock, valued at approximately $1,457,000.

Several other institutional investors also recently modified their holdings of CDW. Hollencrest Capital Management lifted its position in CDW by 909.1% during the first quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 200 shares during the last quarter. Allied Private Wealth LLC purchased a new position in CDW in the 2nd quarter worth approximately $28,000. Keating Financial Advisory Services Inc. bought a new position in shares of CDW in the 2nd quarter worth $28,000. Root Financial Partners LLC increased its holdings in shares of 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. Finally, Johnson Financial Group Inc. purchased a new stake in shares of CDW during the 2nd quarter valued at $51,000. 93.15% of the stock is currently owned by institutional investors.

CDW Price Performance

Shares of CDW stock opened at $141.46 on Thursday. CDW Corporation has a 52-week low of $97.12 and a 52-week high of $171.55. The stock has a market capitalization of $17.69 billion, a price-to-earnings ratio of 17.00, a price-to-earnings-growth ratio of 1.87 and a beta of 0.96. The company has a fifty day moving average of $136.93 and a 200-day moving average of $128.49. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.05 and a current ratio of 1.17.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 EPS 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%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.60 EPS. Equities research analysts expect that CDW Corporation will post 10.28 EPS for the current year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, August 25th. CDW’s dividend payout ratio (DPR) is 30.29%.

Analyst Ratings Changes

A number of analysts have recently issued reports on CDW shares. UBS Group dropped their price objective on shares of CDW from $162.00 to $147.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Weiss Ratings raised CDW from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. Royal Bank Of Canada raised CDW to an “outperform” rating and set a $130.00 price target for the company in a research note on Wednesday, May 27th. Barclays cut their price objective on CDW from $144.00 to $123.00 and set an “equal weight” rating for the company in a report on Thursday, May 7th. Finally, Morgan Stanley increased their price objective on CDW from $170.00 to $171.00 and gave the company 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 given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $147.00.

Insider Activity at CDW

In other news, insider Elizabeth H. Connelly sold 26,695 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $137.62, for a total value of $3,673,765.90. Following the completion of 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 legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.82% of the company’s stock.

CDW Profile

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.