Today, PNC Financial Services Group Inc. invests in CDW Corp. (CDW) Shares

Today, PNC Financial Services Group Inc. invests in CDW Corp. (CDW) Shares
PNC Financial Services Group Inc. increased its stake in CDW Corp. (NASDAQ:CDW) by 2.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 812,831 shares of the company’s stock after buying an additional 23,128 shares during the period. PNC Financial Services Group Inc. owned approximately 0.50% of CDW Corp. worth $37,171,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. KBC Group NV increased its stake in CDW Corp. by 91.5% in the third quarter. KBC Group NV now owns 21,588 shares of the company’s stock valued at $987,000 after buying an additional 10,317 shares in the last quarter. Victory Capital Management Inc. increased its stake in CDW Corp. by 1,239.7% in the third quarter. Victory Capital Management Inc. now owns 1,535,970 shares of the company’s stock valued at $70,240,000 after buying an additional 1,421,317 shares in the last quarter. Polaris Greystone Financial Group LLC increased its stake in CDW Corp. by 5.2% in the third quarter. Polaris Greystone Financial Group LLC now owns 324,054 shares of the company’s stock valued at $14,819,000 after buying an additional 16,019 shares in the last quarter. Aperio Group LLC increased its stake in CDW Corp. by 20.8% in the third quarter. Aperio Group LLC now owns 37,430 shares of the company’s stock valued at $1,712,000 after buying an additional 6,451 shares in the last quarter. Finally, Three Peaks Capital Management LLC increased its stake in CDW Corp. by 5.3% in the third quarter. Three Peaks Capital Management LLC now owns 310,625 shares of the company’s stock valued at $14,205,000 after buying an additional 15,567 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

CDW Corp. (NASDAQ:CDW) traded up 0.93% during mid-day trading on Friday, reaching $51.84. 306,703 shares of the company traded hands. The company has a market capitalization of $8.32 billion, a P/E ratio of 21.09 and a beta of 0.96. CDW Corp. has a 52-week low of $30.40 and a 52-week high of $52.30. The stock has a 50 day moving average price of $46.06 and a 200-day moving average price of $43.86.

CDW Corp. (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.07. The firm had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.50 billion. CDW Corp. had a net margin of 2.95% and a return on equity of 50.73%. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 earnings per share. Analysts expect that CDW Corp. will post $3.38 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Friday, November 25th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.25%. The ex-dividend date is Tuesday, November 22nd. This is a positive change from CDW Corp.’s previous quarterly dividend of $0.11. CDW Corp.’s dividend payout ratio (DPR) is presently 26.23%.

Several equities research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of CDW Corp. from a “buy” rating to a “hold” rating in a research note on Friday, November 4th. Deutsche Bank AG upped their target price on shares of CDW Corp. from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Robert W. Baird restated a “hold” rating on shares of CDW Corp. in a research note on Wednesday, November 2nd. JPMorgan Chase & Co. restated a “buy” rating and issued a $50.00 target price on shares of CDW Corp. in a research note on Thursday, November 3rd. Finally, Royal Bank Of Canada upped their target price on shares of CDW Corp. from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Wednesday, November 16th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $48.88.

In related news, insider Douglas E. Eckrote sold 80,000 shares of the firm’s stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $44.04, for a total transaction of $3,523,200.00. Following the transaction, the insider now owns 179,089 shares of the company’s stock, valued at $7,887,079.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.20% of the company’s stock.

About CDW Corp.

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