Sowell Financial Services LLC Buys 4,128 Shares of CDW Corporation $CDW

Sowell Financial Services LLC boosted its stake in CDW Corporation (NASDAQ:CDW) by 113.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,779 shares of the information technology services provider’s stock after acquiring an additional 4,128 shares during the quarter. Sowell Financial Services LLC’s holdings in CDW were worth $997,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capstone Capital Management Ltd acquired a new stake in shares of CDW in the 3rd quarter valued at about $539,000. Physician Wealth Advisors Inc. lifted its holdings in shares of CDW by 2,083.3% in the third quarter. Physician Wealth Advisors Inc. now owns 786 shares of the information technology services provider’s stock valued at $101,000 after purchasing an additional 750 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of CDW by 15,696.1% during the third quarter. Nisa Investment Advisors LLC now owns 329,664 shares of the information technology services provider’s stock worth $42,250,000 after buying an additional 327,577 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of CDW by 9,978.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,645,222 shares of the information technology services provider’s stock worth $210,852,000 after buying an additional 1,628,898 shares during the period. Finally, Diversify Advisory Services LLC boosted its position in shares of CDW by 88.3% during the third quarter. Diversify Advisory Services LLC now owns 19,576 shares of the information technology services provider’s stock worth $2,301,000 after buying an additional 9,179 shares during the period. 93.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CDW shares. Citigroup increased their price objective on CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Weiss Ratings upgraded CDW from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. Morgan Stanley upped 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. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $150.12.

Insider Activity

In related news, insider Elizabeth Connelly sold 26,695 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $137.62, for a total transaction of $3,673,765.90. Following the sale, the insider owned 34,215 shares in the company, valued at approximately $4,708,668.30. This represents a 43.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.82% of the company’s stock.

CDW Stock Up 0.3%

Shares of CDW stock opened at $165.11 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.05 and a debt-to-equity ratio of 1.97. CDW Corporation has a 1 year low of $97.12 and a 1 year high of $166.15. The firm’s fifty day moving average price is $144.83 and its two-hundred day moving average price is $135.12. The firm has a market capitalization of $20.64 billion, a P/E ratio of 19.84, a PEG ratio of 2.16 and a beta of 0.95.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $6.21 billion. During the same period in the previous year, the firm posted $2.60 EPS. 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 10.33 EPS for the current fiscal year.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Tuesday, August 25th were given a $0.63 dividend. The ex-dividend date of this dividend was Tuesday, August 25th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.5%. CDW’s payout ratio is currently 30.29%.

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.