Berger Financial Group Inc Boosts Holdings in CDW Corporation (NASDAQ:CDW)

Key Points

• Berger Financial Group Inc increased its holdings in CDW Corporation by 27.3%, owning 29,023 shares valued at approximately $4.65 million.
• CDW reported earnings per share (EPS) of $2.60 for the last quarter, exceeding analysts' expectations of $2.49, along with a revenue of $5.98 billion.
• The company declared a quarterly dividend of $0.625 per share, with an annualized dividend yield of 1.5%, payable on September 10th.

Berger Financial Group Inc grew its position in CDW Corporation (NASDAQ:CDW - Free Report) by 27.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,023 shares of the information technology services provider's stock after acquiring an additional 6,230 shares during the quarter. Berger Financial Group Inc's holdings in CDW were worth $4,651,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vestcor Inc boosted its position in shares of 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 lifted its stake in shares of 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 last quarter. GW&K Investment Management LLC boosted its holdings 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 during the period. Benin Management CORP grew its position in 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 acquiring an additional 80 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in 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 during the period. Institutional investors own 93.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CDW. UBS Group cut their price target on shares of CDW from $210.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday. JPMorgan Chase & Co. raised their target price on shares of CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Barclays decreased their price target 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. Finally, Citigroup increased their price objective on CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $202.00.

CDW Price Performance

NASDAQ CDW opened at $162.92 on Friday. The company has a market cap of $21.45 billion, a PE ratio of 20.24, a P/E/G ratio of 2.72 and a beta of 0.95. The firm's 50 day moving average price is $176.17 and its 200-day moving average price is $174.95. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.20 and a current ratio of 1.35. CDW Corporation has a 52-week low of $137.31 and a 52-week high of $231.38.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share (EPS) 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 return on equity of 53.63% and a net margin of 4.92%. The business's revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business posted $2.50 EPS. Sell-side analysts forecast that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The company also recently declared 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. This represents a $2.50 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, August 25th. CDW's dividend payout ratio is presently 31.06%.

Insider Activity at CDW

In other news, insider Frederick J. Kulevich sold 28,159 shares of CDW stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $190.90, for a total value of $5,375,553.10. Following the transaction, the insider owned 36,077 shares of the company's stock, valued at $6,887,099.30. The trade was a 43.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.84% of the company's stock.

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.

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