Cetera Investment Advisers Purchases 3,233 Shares of CDW Corporation (NASDAQ:CDW)

Key Points

• Cetera Investment Advisers increased its stake in CDW Corporation by 67.6% in the first quarter, acquiring an additional 3,233 shares, bringing their total holdings to 8,015 shares worth approximately $1.28 million.
• Several other hedge funds have also modified their positions in CDW, with notable increases from TD Private Client Wealth LLC (30.3% increase) and GW&K Investment Management LLC (78.9% increase) during the same period.
• Despite some insider selling by Frederick J. Kulevich, who reduced their stake by 43.84%, analysts have set a consensus price target of $202 for CDW, with a mix of buy and hold ratings from various equities research firms.

Cetera Investment Advisers raised its holdings in CDW Corporation (NASDAQ:CDW - Free Report) by 67.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,015 shares of the information technology services provider's stock after purchasing an additional 3,233 shares during the period. Cetera Investment Advisers' holdings in CDW were worth $1,284,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CDW. Federated Hermes Inc. boosted its holdings in CDW by 23.7% in the 4th quarter. Federated Hermes Inc. now owns 1,092 shares of the information technology services provider's stock valued at $190,000 after purchasing an additional 209 shares during the period. Renaissance Technologies LLC bought a new stake in CDW in the 4th quarter valued at about $26,071,000. Raymond James Financial Inc. bought a new stake in shares of CDW during the 4th quarter worth approximately $27,243,000. Capital Fund Management S.A. bought a new stake in shares of CDW during the 4th quarter worth approximately $7,930,000. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of CDW by 0.4% during the 4th quarter. Treasurer of the State of North Carolina now owns 60,655 shares of the information technology services provider's stock worth $10,556,000 after acquiring an additional 270 shares during the period. Institutional investors own 93.15% of the company's stock.

CDW Stock Up 0.3%

Shares of NASDAQ CDW traded up $0.50 during mid-day trading on Friday, reaching $166.59. 185,336 shares of the company's stock traded hands, compared to its average volume of 1,325,406. The stock has a market cap of $21.83 billion, a P/E ratio of 20.72, a PEG ratio of 2.81 and a beta of 0.95. The business has a 50-day simple moving average of $175.19 and a 200 day simple moving average of $174.10. CDW Corporation has a 1-year low of $137.31 and a 1-year high of $231.38. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.35 and a quick ratio of 1.22.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $5.98 billion during the quarter, compared to analysts' expectations of $5.51 billion. CDW had a net margin of 4.92% and a return on equity of 53.63%. The business's revenue was up 10.2% on a year-over-year basis. During the same period last year, the company earned $2.50 earnings per share. On average, analysts expect 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. Investors of record on Monday, August 25th will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, August 25th. CDW's dividend payout ratio (DPR) is presently 31.06%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CDW. UBS Group cut their price target on shares of CDW from $210.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Barclays dropped 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 note on Thursday, August 7th. Finally, Citigroup increased their price objective on shares of CDW from $180.00 to $200.00 and gave the company 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 assigned a buy rating to the company's stock. Based on data from MarketBeat, CDW currently has a consensus 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.