96,481 Shares in CDW Corporation $CDW Bought by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management acquired 96,481 CDW shares worth approximately $12.4 million, representing about 0.08% of the company. Institutional investors collectively own 93.15% of CDW.
• CDW reported quarterly EPS of $2.91, exceeding estimates of $2.80, while revenue reached $6.57 billion and increased 10% year over year.
• CDW pays a quarterly dividend of $0.63 per share, equivalent to a 1.8% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $150.12.

NorthCrest Asset Manangement LLC acquired a new stake in CDW Corporation (NASDAQ:CDW - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 96,481 shares of the information technology services provider's stock, valued at approximately $12,365,000. NorthCrest Asset Manangement LLC owned approximately 0.08% of CDW at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CDW. CX Institutional increased its position in shares of CDW by 4.0% in the third quarter. CX Institutional now owns 2,585 shares of the information technology services provider's stock valued at $331,000 after buying an additional 99 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of CDW by 26.3% in the 3rd quarter. Versant Capital Management Inc now owns 860 shares of the information technology services provider's stock worth $110,000 after buying an additional 179 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of CDW by 28.7% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 2,417 shares of the information technology services provider's stock worth $340,000 after buying an additional 539 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of CDW by 33.5% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 3,543 shares of the information technology services provider's stock worth $498,000 after buying an additional 889 shares in the last quarter. Finally, Tidal Investments LLC grew its stake in CDW by 82.5% in the 2nd quarter. Tidal Investments LLC now owns 46,504 shares of the information technology services provider's stock valued at $6,540,000 after acquiring an additional 21,019 shares during the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Elizabeth Connelly sold 26,695 shares of the business's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $137.62, for a total value of $3,673,765.90. Following the completion of the sale, the insider directly owned 34,215 shares in the company, valued at approximately $4,708,668.30. The trade was a 43.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.82% of the stock is owned by company insiders.

CDW Stock Performance

CDW stock opened at $143.76 on Tuesday. CDW Corporation has a fifty-two week low of $97.12 and a fifty-two week high of $161.10. The company has a market capitalization of $17.97 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 1.86 and a beta of 0.95. The stock has a fifty day moving average of $142.01 and a two-hundred day moving average of $132.99. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.05 and a current ratio of 1.17.

CDW (NASDAQ:CDW - Get Free Report) last released its earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.80 by $0.11. The company had revenue of $6.57 billion for 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%. The firm's quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.60 EPS. On average, analysts anticipate that CDW Corporation will post 10.33 EPS for the current fiscal year.

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th were issued a dividend of $0.63 per share. The ex-dividend date was Tuesday, August 25th. This represents a $2.52 annualized dividend and a dividend yield of 1.8%. CDW's dividend payout ratio (DPR) is 30.29%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CDW shares. Citigroup raised their target price on shares of CDW from $123.00 to $145.00 and gave the company a "neutral" rating in a report on Monday, July 13th. Barclays reduced their price target on shares of CDW from $150.00 to $148.00 and set an "equal weight" rating on the stock in a report on Monday, September 21st. Morgan Stanley upped their price target on shares of CDW from $170.00 to $171.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of CDW from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $150.12.

CDW Profile

CDW Corporation NASDAQ: CDW is a provider of technology products and services for businesses, government agencies, educational institutions and healthcare organizations. The company helps customers plan, acquire, implement and manage information technology through a broad portfolio of hardware, software and cloud-based solutions.

Its offerings include computers, servers, networking equipment, data storage, cybersecurity products, collaboration tools and software. CDW also provides professional and managed services, including cloud adoption, data center modernization, security, virtualization, configuration, technical support and lifecycle management.

Founded in 1984 as Computer Discount Warehouse, the company is headquartered in Vernon Hills, Illinois.

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