Jennison Associates LLC Invests $836,000 in CDW Co. (NASDAQ:CDW)

Jennison Associates LLC purchased a new position in CDW Co. (NASDAQ:CDW) during the third quarter, HoldingsChannel.com reports. The fund purchased 4,594 shares of the information technology services provider’s stock, valued at approximately $836,000.

Other institutional investors have also recently made changes to their positions in the company. Commonwealth Equity Services LLC raised its stake in CDW by 20.1% in the second quarter. Commonwealth Equity Services LLC now owns 8,568 shares of the information technology services provider’s stock valued at $1,496,000 after purchasing an additional 1,434 shares in the last quarter. Koshinski Asset Management Inc. bought a new position in CDW during the third quarter valued at approximately $217,000. Pallas Capital Advisors LLC grew its position in CDW by 38.5% during the second quarter. Pallas Capital Advisors LLC now owns 7,048 shares of the information technology services provider’s stock valued at $1,327,000 after acquiring an additional 1,958 shares during the last quarter. HM Payson & Co. grew its position in CDW by 5.9% during the second quarter. HM Payson & Co. now owns 350,661 shares of the information technology services provider’s stock valued at $61,243,000 after acquiring an additional 19,689 shares during the last quarter. Finally, Liberty Wealth Management LLC grew its position in CDW by 17,858.3% during the second quarter. Liberty Wealth Management LLC now owns 88,714 shares of the information technology services provider’s stock valued at $508,000 after acquiring an additional 88,220 shares during the last quarter. 90.31% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:CDW opened at $191.64 on Friday. The stock has a market cap of $26.01 billion, a P/E ratio of 26.92, a price-to-earnings-growth ratio of 1.77 and a beta of 1.10. The firm’s fifty day simple moving average is $196.00 and its 200 day simple moving average is $190.24. CDW Co. has a twelve month low of $130.01 and a twelve month high of $208.71. The company has a quick ratio of 1.16, a current ratio of 1.38 and a debt-to-equity ratio of 4.82.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, November 3rd. The information technology services provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.08. The business had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.32 billion. CDW had a net margin of 5.00% and a return on equity of 98.82%. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.78 earnings per share. On average, analysts expect that CDW Co. will post 7.54 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 10th. Investors of record on Wednesday, November 24th were issued a $0.50 dividend. The ex-dividend date was Tuesday, November 23rd. This represents a $2.00 annualized dividend and a yield of 1.04%. This is a boost from CDW’s previous quarterly dividend of $0.40. CDW’s payout ratio is 28.09%.

CDW has been the topic of a number of recent research reports. Evercore ISI initiated coverage on shares of CDW in a research report on Tuesday, December 14th. They set an “outperform” rating on the stock. Morgan Stanley raised their target price on shares of CDW from $196.00 to $200.00 and gave the stock an “equal weight” rating in a report on Thursday, November 4th. JPMorgan Chase & Co. upgraded shares of CDW to a “hold” rating and set a $200.00 target price on the stock in a report on Wednesday, October 6th. Zacks Investment Research cut shares of CDW from a “buy” rating to a “hold” rating and set a $201.00 target price on the stock. in a report on Monday, November 15th. Finally, Raymond James raised their target price on shares of CDW from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Thursday, November 4th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $205.86.

In other CDW news, insider Christina M. Corley sold 3,400 shares of the firm’s stock in a transaction on Thursday, November 18th. The stock was sold at an average price of $195.27, for a total transaction of $663,918.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 10,200 shares of company stock worth $1,907,944. 1.33% of the stock is currently owned by company insiders.

CDW Company Profile

CDW Corp. engages in the provision of information technology solutions to small, medium and large business, government, education and healthcare customers in the United States, the United Kingdom and Canada. It operates through the following segments: Corporate, Small Business, and Public. The Corporate segment serves the private sector business customers.

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Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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