CDW Corporation $CDW Stock: Krilogy Financial LLC Raises Holdings

Key Points

• Krilogy Financial significantly increased its CDW position by 1,373.4% in the third quarter, ending with 33,328 shares valued at approximately $4.27 million. Institutional investors collectively own 93.15% of CDW.
• CDW reported quarterly adjusted earnings of $2.91 per share, beating estimates of $2.80, while revenue rose 10% year over year to $6.57 billion, above expectations.
• The company paid a quarterly dividend of $0.63 per share, equivalent to an annualized $2.52 dividend and a 1.7% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $150.12.

Krilogy Financial LLC grew its position in CDW Corporation (NASDAQ:CDW - Free Report) by 1,373.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,328 shares of the information technology services provider's stock after acquiring an additional 31,066 shares during the period. Krilogy Financial LLC's holdings in CDW were worth $4,271,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CDW. BlackRock Inc. purchased a new position in shares of CDW in the 2nd quarter valued at about $2,143,082,000. Pzena Investment Management LLC acquired a new position in CDW in the 2nd quarter worth about $371,135,000. Jupiter Topco LLC acquired a new position in CDW in the 2nd quarter worth about $300,073,000. Alyeska Investment Group L.P. boosted its position in CDW by 197.1% during the second quarter. Alyeska Investment Group L.P. now owns 1,854,952 shares of the information technology services provider's stock worth $260,880,000 after purchasing an additional 1,230,517 shares in the last quarter. Finally, Bank of America Corp DE purchased a new position in CDW during the second quarter worth approximately $255,058,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Stock Down 1.2%

CDW stock opened at $150.10 on Thursday. CDW Corporation has a 52 week low of $97.12 and a 52 week high of $161.10. The company has a quick ratio of 1.05, a current ratio of 1.17 and a debt-to-equity ratio of 1.97. The firm has a 50-day simple moving average of $142.17 and a 200-day simple moving average of $133.41. The stock has a market capitalization of $18.77 billion, a P/E ratio of 18.04, a P/E/G ratio of 1.99 and a beta of 0.95.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share for the quarter, beating analysts' consensus estimates of $2.80 by $0.11. CDW had a net margin of 4.60% and a return on equity of 50.61%. The firm had revenue of $6.57 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same period last year, the company posted $2.60 EPS. CDW's quarterly revenue was up 10.0% compared to the same quarter last year. Equities analysts forecast that CDW Corporation will post 10.33 earnings per share for the current fiscal year.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Tuesday, August 25th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.7%. CDW's dividend payout ratio is presently 30.29%.

Wall Street Analysts Forecast Growth

CDW has been the topic of several research analyst reports. Morgan Stanley raised their price objective on CDW from $170.00 to $171.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Citigroup increased their target price on CDW from $123.00 to $145.00 and gave the company a "neutral" rating in a research report on Monday, July 13th. Weiss Ratings upgraded CDW from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 25th. Finally, Barclays dropped their price target on shares of CDW from $150.00 to $148.00 and set an "equal weight" rating on the stock in a research note on Monday, September 21st. 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $150.12.

Insider Activity at CDW

In other news, insider Elizabeth Connelly sold 26,695 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $137.62, for a total value of $3,673,765.90. Following the transaction, the insider owned 34,215 shares in the company, valued at $4,708,668.30. This trade represents a 43.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.82% of the stock is owned by insiders.

About CDW

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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