Envestnet Asset Management Inc. Has $54.11 Million Stock Position in CDW (NASDAQ:CDW)

Envestnet Asset Management Inc. lifted its stake in CDW (NASDAQ:CDW) by 231.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 487,467 shares of the information technology services provider’s stock after acquiring an additional 340,517 shares during the period. Envestnet Asset Management Inc. owned approximately 0.33% of CDW worth $54,109,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Neuburgh Advisers LLC grew its stake in shares of CDW by 9.4% in the first quarter. Neuburgh Advisers LLC now owns 9,456 shares of the information technology services provider’s stock worth $911,000 after acquiring an additional 816 shares during the last quarter. Full Sail Capital LLC acquired a new stake in CDW during the first quarter worth $203,000. NumerixS Investment Technologies Inc boosted its stake in CDW by 146.2% during the first quarter. NumerixS Investment Technologies Inc now owns 12,800 shares of the information technology services provider’s stock worth $1,218,000 after buying an additional 7,600 shares in the last quarter. Machina Capital S.A.S. boosted its stake in CDW by 8.9% during the second quarter. Machina Capital S.A.S. now owns 2,336 shares of the information technology services provider’s stock worth $259,000 after buying an additional 191 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in CDW during the first quarter worth $2,352,000. Institutional investors and hedge funds own 93.57% of the company’s stock.

Shares of NASDAQ:CDW traded up $2.97 on Friday, hitting $111.69. The stock had a trading volume of 502,200 shares, compared to its average volume of 798,707. CDW has a twelve month low of $74.32 and a twelve month high of $120.82. The company has a debt-to-equity ratio of 3.57, a quick ratio of 1.09 and a current ratio of 1.28. The firm’s 50 day moving average price is $113.31 and its 200-day moving average price is $103.51. The company has a market capitalization of $15.92 billion, a price-to-earnings ratio of 21.90, a price-to-earnings-growth ratio of 1.50 and a beta of 1.10.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, July 31st. The information technology services provider reported $1.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.10. CDW had a net margin of 4.07% and a return on equity of 82.78%. The company had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.50 billion. During the same quarter in the previous year, the company earned $1.38 EPS. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, sell-side analysts predict that CDW will post 5.62 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th will be paid a $0.295 dividend. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $1.18 annualized dividend and a dividend yield of 1.06%. CDW’s dividend payout ratio is presently 23.14%.

In other news, insider Robert F. Kirby sold 1,300 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $116.22, for a total value of $151,086.00. Following the sale, the insider now owns 35,070 shares in the company, valued at approximately $4,075,835.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas E. Richards sold 66,667 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $99.67, for a total transaction of $6,644,699.89. Following the completion of the sale, the insider now owns 644,443 shares in the company, valued at approximately $64,231,633.81. The disclosure for this sale can be found here. Insiders sold a total of 204,374 shares of company stock worth $21,721,725 in the last 90 days. 2.25% of the stock is owned by corporate insiders.

A number of research firms have weighed in on CDW. BidaskClub upgraded shares of CDW from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd. ValuEngine downgraded shares of CDW from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Deutsche Bank began coverage on shares of CDW in a research note on Tuesday, June 11th. They set a “buy” rating and a $113.00 price target on the stock. Northcoast Research downgraded shares of CDW from a “buy” rating to a “neutral” rating in a research note on Friday, April 26th. They noted that the move was a valuation call. Finally, Credit Suisse Group lifted their price target on shares of CDW from $118.00 to $132.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $118.13.

CDW Profile

CDW Corporation provides integrated information technology (IT) solutions to business, government, education, and healthcare customers in the United States, Canada, and the United Kingdom. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products, as well as integrated IT solutions, including mobility, security, data center optimization, cloud computing, virtualization, and collaboration.

Further Reading: Why do analysts give a neutral rating?

Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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