Fiduciary Family Office LLC Invests $352,000 in CDW Corporation (NASDAQ:CDW)

Key Points

• Fiduciary Family Office LLC acquired 2,198 shares of CDW Corporation in the first quarter, valued at approximately $352,000.
• CDW reported earnings of $2.60 per share for the last quarter, beating expectations and showing a 10.2% year-over-year revenue increase.
• CDW has declared a quarterly dividend of $0.625 per share, with a payout ratio of 31.06% and expected annual yield of 1.5%.

Fiduciary Family Office LLC purchased a new position in shares of CDW Corporation (NASDAQ:CDW - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,198 shares of the information technology services provider's stock, valued at approximately $352,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vestcor Inc increased its stake in shares of CDW by 1.8% during the 1st quarter. Vestcor Inc now owns 4,068 shares of the information technology services provider's stock worth $652,000 after purchasing an additional 71 shares during the last quarter. TD Private Client Wealth LLC boosted its stake in CDW by 30.3% in the 1st quarter. TD Private Client Wealth LLC now owns 310 shares of the information technology services provider's stock valued at $50,000 after purchasing an additional 72 shares during the period. GW&K Investment Management LLC lifted its holdings in shares of CDW by 78.9% during the first quarter. GW&K Investment Management LLC now owns 170 shares of the information technology services provider's stock worth $27,000 after buying an additional 75 shares in the last quarter. Benin Management CORP lifted its holdings in shares of CDW by 2.5% during the first quarter. Benin Management CORP now owns 3,248 shares of the information technology services provider's stock worth $521,000 after buying an additional 80 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of CDW by 4.0% during the 1st quarter. GAMMA Investing LLC now owns 2,098 shares of the information technology services provider's stock worth $336,000 after acquiring an additional 81 shares during the period. Institutional investors own 93.15% of the company's stock.

CDW Stock Up 2.4%

Shares of NASDAQ:CDW traded up $3.91 during mid-day trading on Tuesday, hitting $164.06. 1,212,852 shares of the company traded hands, compared to its average volume of 1,097,721. The stock has a market cap of $21.50 billion, a P/E ratio of 20.38, a P/E/G ratio of 2.69 and a beta of 0.95. The stock has a 50-day moving average price of $175.57 and a two-hundred day moving average price of $174.34. CDW Corporation has a 12-month low of $137.31 and a 12-month high of $231.38. The company has a current ratio of 1.35, a quick ratio of 1.22 and a debt-to-equity ratio of 2.28.

CDW (NASDAQ:CDW - Get Free Report) last announced its earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 EPS for the quarter, beating the consensus estimate of $2.49 by $0.11. The company had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $5.51 billion. CDW had a net margin of 4.92% and a return on equity of 53.63%. The firm's revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.50 earnings per share. On average, equities research analysts forecast that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 25th will be given a dividend of $0.625 per share. The ex-dividend date is Monday, August 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.5%. CDW's dividend payout ratio is currently 31.06%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CDW shares. Barclays cut their price objective on CDW from $205.00 to $176.00 and set an "equal weight" rating on the stock in a report on Thursday, August 7th. JPMorgan Chase & Co. raised their target price on CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Citigroup increased their price target on CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. Finally, UBS Group lowered their price objective on CDW from $210.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $202.00.

CDW Profile

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.