3,060 Shares in CDW Corporation $CDW Bought by SCS Capital Management LLC

Key Points

• SCS Capital Management LLC purchased 3,060 shares of CDW Corporation, valued at approximately $490,000, adding to the significant institutional ownership that accounts for 93.15% of the stock.
• CDW's recent quarterly earnings report showed an EPS of $2.60, exceeding estimates, with a revenue of $5.98 billion, a year-over-year increase of 10.2%.
• Analysts have mixed ratings on CDW, with price targets ranging from $176 to $205 and an overall average rating of "Hold" from MarketBeat data.

SCS Capital Management LLC bought a new stake in CDW Corporation (NASDAQ:CDW - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,060 shares of the information technology services provider's stock, valued at approximately $490,000.

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

CDW Stock Down 0.9%

CDW stock traded down $1.44 during trading hours on Friday, hitting $164.29. The company's stock had a trading volume of 1,120,717 shares, compared to its average volume of 1,134,673. The stock has a 50 day moving average price of $170.85 and a two-hundred day moving average price of $170.02. CDW Corporation has a 12 month low of $137.31 and a 12 month high of $230.86. The company has a market capitalization of $21.53 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 2.73 and a beta of 0.98. The company has a quick ratio of 1.22, a current ratio of 1.35 and a debt-to-equity ratio of 2.28.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share for the quarter, beating analysts' consensus estimates of $2.49 by $0.11. The business had revenue of $5.98 billion for 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%. CDW's revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.50 EPS. On average, equities research analysts expect that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Citigroup boosted their price objective on shares of CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. Barclays decreased their target price on shares of CDW from $205.00 to $176.00 and set an "equal weight" rating for the company in a research note on Thursday, August 7th. JPMorgan Chase & Co. upped their price target on shares of CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Finally, UBS Group reduced 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. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $202.00.

CDW Company 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.