CCM Investment Group LLC Purchases New Holdings in CDW Corporation (NASDAQ:CDW)

Key Points

• CCM Investment Group LLC acquired a new stake in CDW Corporation, purchasing 4,943 shares valued at approximately $798,000.
• Insider Frederick J. Kulevich sold 28,159 shares of CDW, representing a 43.84% decrease in ownership, with a total transaction value of over $5.37 million.
• CDW reported a strong quarterly performance with $2.60 EPS, exceeding estimates, and announced a quarterly dividend of $0.625 to be paid in September.

CCM Investment Group LLC acquired a new stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,943 shares of the information technology services provider's stock, valued at approximately $798,000.

Several other institutional investors also recently made changes to their positions in CDW. GW&K Investment Management LLC raised its stake in shares of CDW by 78.9% in 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 purchasing an additional 75 shares in the last quarter. Orion Capital Management LLC acquired a new stake in shares of CDW in the 4th quarter valued at about $30,000. Bayforest Capital Ltd acquired a new stake in shares of CDW in the 1st quarter valued at about $31,000. Pandora Wealth Inc. acquired a new stake in shares of CDW in the 1st quarter valued at about $32,000. Finally, Optiver Holding B.V. raised its stake in shares of CDW by 107.2% in the 4th quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock valued at $40,000 after purchasing an additional 119 shares in the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

CDW Price Performance

Shares of NASDAQ:CDW traded up $3.42 during trading on Wednesday, reaching $167.48. The company had a trading volume of 1,179,902 shares, compared to its average volume of 1,109,736. The firm's fifty day moving average is $175.38 and its 200 day moving average is $174.29. The firm has a market capitalization of $21.95 billion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 2.76 and a beta of 0.95. CDW Corporation has a twelve month low of $137.31 and a twelve month high of $231.38. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.22 and a current ratio of 1.35.

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

CDW Announces Dividend

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

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.