First Command Advisory Services Inc. Buys 5,968 Shares of CDW Corporation $CDW

First Command Advisory Services Inc. bought a new position in CDW Corporation (NASDAQ:CDW) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 5,968 shares of the information technology services provider’s stock, valued at approximately $765,000.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of CDW during the second quarter valued at about $2,143,082,000. Pzena Investment Management LLC increased its holdings in shares of CDW by 27.1% in the third quarter. Pzena Investment Management LLC now owns 3,353,465 shares of the information technology services provider’s stock worth $429,780,000 after buying an additional 714,565 shares during the period. Jupiter Topco LLC bought a new stake in shares of CDW in the 2nd quarter valued at about $300,073,000. Alyeska Investment Group L.P. lifted its stake in shares of CDW by 197.1% in the 2nd quarter. Alyeska Investment Group L.P. now owns 1,854,952 shares of the information technology services provider’s stock valued at $260,880,000 after acquiring an additional 1,230,517 shares during the last quarter. Finally, Bank of America Corp DE purchased a new stake in CDW during the 2nd quarter valued at about $255,058,000. 93.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on CDW shares. JPMorgan Chase & Co. lifted their price target on CDW from $170.00 to $195.00 and gave the stock an “overweight” rating in a research note on Thursday, November 5th. Barclays dropped their price objective on CDW from $150.00 to $148.00 and set an “equal weight” rating for the company in a research note on Monday, September 21st. Weiss Ratings upgraded shares of CDW from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. UBS Group lifted their target price on shares of CDW from $159.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, November 5th. Finally, Morgan Stanley upped their price target on shares of CDW from $170.00 to $171.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. One research 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 data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $167.38.

CDW Stock Up 2.2%

Shares of NASDAQ:CDW opened at $173.08 on Thursday. CDW Corporation has a 1 year low of $97.12 and a 1 year high of $175.19. The company has a market cap of $21.60 billion, a PE ratio of 20.20, a P/E/G ratio of 1.50 and a beta of 0.92. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.26 and a quick ratio of 1.15. The stock’s 50-day moving average is $149.88 and its 200 day moving average is $134.38.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, November 4th. The information technology services provider reported $3.26 earnings per share for the quarter, topping the consensus estimate of $2.98 by $0.28. The business had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.19 billion. CDW had a return on equity of 52.23% and a net margin of 4.48%. The business’s revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the business posted $2.71 EPS. Sell-side analysts anticipate that CDW Corporation will post 10.33 EPS for the current year.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 25th will be issued a dividend of $0.68 per share. This is a boost from CDW’s previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Wednesday, November 25th. CDW’s dividend payout ratio is currently 29.40%.

CDW Company 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.