CDW Corporation $CDW Stock Bought by ProShare Advisors LLC

ProShare Advisors LLC grew its stake in shares of CDW Corporation (NASDAQ:CDW) by 7.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 77,719 shares of the information technology services provider’s stock after acquiring an additional 5,467 shares during the period. ProShare Advisors LLC owned about 0.06% of CDW worth $9,960,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Union Savings Bank grew its holdings in shares of CDW by 500.0% in the 3rd quarter. Union Savings Bank now owns 192 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 160 shares during the last quarter. Allied Private Wealth LLC purchased a new stake in shares of CDW during the second quarter valued at $28,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of CDW during the second quarter valued at $28,000. Manchester Capital Management LLC boosted its position in shares of CDW by 10,200.0% in the 3rd quarter. Manchester Capital Management LLC now owns 206 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 204 shares during the period. Finally, Community Bank N.A. acquired a new position in shares of CDW in the 2nd quarter valued at $31,000. 93.15% of the stock is owned by institutional investors.

CDW Price Performance

CDW opened at $149.77 on Wednesday. The stock has a fifty day moving average of $147.70 and a 200-day moving average of $133.29. The firm 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 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.

CDW (NASDAQ:CDW) last issued its 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. The business had revenue of $6.57 billion during the quarter, compared to analysts’ expectations of $6.21 billion. CDW had a return on equity of 50.61% and a net margin of 4.60%. CDW’s revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.60 earnings per share. Equities analysts forecast that CDW Corporation will post 10.33 EPS for the current fiscal year.

Insider Activity

In other CDW news, insider Elizabeth Connelly sold 26,695 shares of CDW 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 owned 34,215 shares of the company’s stock, valued at $4,708,668.30. This trade represents a 43.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.82% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Barclays dropped their price target on CDW from $150.00 to $148.00 and set an “equal weight” rating on the stock in a research note on Monday, September 21st. Morgan Stanley upped their price objective on shares of CDW from $170.00 to $171.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of CDW from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. Finally, Citigroup lifted their target price on shares of CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. One investment 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $150.12.

CDW Company 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.