20,236 CDW Corporation $CDW Shares Bought by Apollon Wealth Management LLC

Apollon Wealth Management LLC boosted its holdings in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 1,222.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,892 shares of the information technology services provider's stock after buying an additional 20,236 shares during the quarter. Apollon Wealth Management LLC's holdings in CDW were worth $2,806,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Parkside Financial Bank & Trust increased its stake in shares of CDW by 48.1% in the 2nd quarter. Parkside Financial Bank & Trust now owns 268 shares of the information technology services provider's stock worth $38,000 after purchasing an additional 87 shares in the last quarter. V Square Quantitative Management LLC raised its holdings in CDW by 2.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,252 shares of the information technology services provider's stock worth $417,000 after purchasing an additional 89 shares during the period. Root Financial Partners LLC raised its holdings in CDW by 54.7% in the 1st quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider's stock worth $32,000 after purchasing an additional 93 shares during the period. CX Institutional lifted its position in CDW by 4.0% during the third quarter. CX Institutional now owns 2,585 shares of the information technology services provider's stock valued at $331,000 after purchasing an additional 99 shares in the last quarter. Finally, Studio Investment Management LLC lifted its position in CDW by 6.0% during the second quarter. Studio Investment Management LLC now owns 2,667 shares of the information technology services provider's stock valued at $375,000 after purchasing an additional 150 shares in the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Trading Up 0.8%

CDW stock opened at $162.66 on Thursday. CDW Corporation has a 1 year low of $97.12 and a 1 year high of $166.15. The firm's 50 day moving average price is $146.12 and its 200-day moving average price is $132.86. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.17 and a quick ratio of 1.05. The stock has a market cap of $20.34 billion, a P/E ratio of 19.55, a PEG ratio of 2.16 and a beta of 0.95.

CDW (NASDAQ:CDW - Get Free Report) last issued its earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share for the quarter, topping analysts' consensus estimates of $2.80 by $0.11. The firm had revenue of $6.57 billion during the quarter, compared to analyst estimates of $6.21 billion. CDW had a net margin of 4.60% and a return on equity of 50.61%. CDW's revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.60 earnings per share. On average, equities analysts predict that CDW Corporation will post 10.33 earnings per share for the current fiscal year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, August 25th. CDW's dividend payout ratio is 30.29%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CDW. Morgan Stanley boosted their price target on CDW from $170.00 to $171.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Weiss Ratings raised CDW from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 25th. Citigroup raised their price objective on CDW from $123.00 to $145.00 and gave the stock a "neutral" rating in a research note on Monday, July 13th. Finally, Barclays cut 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. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, CDW has an average rating of "Moderate Buy" and a consensus target price of $150.12.

Insider Activity at CDW

In other news, insider Elizabeth Connelly sold 26,695 shares of the firm's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $137.62, for a total transaction of $3,673,765.90. Following the completion of the transaction, the insider owned 34,215 shares in the company, valued at $4,708,668.30. This trade represents a 43.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.82% of the stock is owned by company insiders.

About CDW

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.

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