Corient Private Wealth LP Invests $6.12 Million in CDW Corporation $CDW

Key Points

• Corient Private Wealth initiated a $6.12 million position in CDW during the second quarter by purchasing 43,494 shares. Institutional investors collectively own 93.15% of the company.
• Analysts maintain a generally positive outlook, with CDW holding a “Moderate Buy” consensus rating and an average price target of $147. Target changes ranged from Barclays’ reduction to $123 to Morgan Stanley’s increase to $171.
• CDW exceeded quarterly expectations, reporting adjusted EPS of $2.91 versus the $2.80 consensus and revenue of $6.57 billion, up 10% year over year. The company also announced a quarterly dividend of $0.63 per share, representing a 1.7% annualized yield.

Corient Private Wealth LP purchased a new position in CDW Corporation (NASDAQ:CDW - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 43,494 shares of the information technology services provider's stock, valued at approximately $6,117,000.

Several other institutional investors also recently added to or reduced their stakes in CDW. Hollencrest Capital Management increased its holdings in CDW by 909.1% during the first quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider's stock worth $27,000 after buying an additional 200 shares during the last quarter. Allied Private Wealth LLC bought a new stake in CDW in the second quarter worth about $28,000. Keating Financial Advisory Services Inc. purchased a new position in CDW in the second quarter valued at about $28,000. Root Financial Partners LLC boosted its stake in CDW by 54.7% in the first quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider's stock valued at $32,000 after acquiring an additional 93 shares during the last quarter. Finally, Johnson Financial Group Inc. purchased a new position in CDW in the second quarter valued at about $51,000. Institutional investors own 93.15% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CDW shares. Citigroup raised their price target on shares of CDW from $123.00 to $145.00 and gave the stock a "neutral" rating in a research note on Monday, July 13th. Morgan Stanley upped their price objective on CDW from $170.00 to $171.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Weiss Ratings raised CDW from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 25th. Raymond James Financial set a $150.00 target price on CDW in a research report on Wednesday, May 6th. Finally, Barclays lowered their target price on CDW from $144.00 to $123.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $147.00.

Insider Transactions at CDW

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

CDW Price Performance

CDW opened at $151.58 on Tuesday. The company has a market capitalization of $18.95 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 1.94 and a beta of 0.96. 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 moving average price of $138.29 and a 200-day moving average price of $128.62. CDW Corporation has a twelve month low of $97.12 and a twelve month high of $171.55.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company's quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.60 earnings per share. Equities analysts expect that CDW Corporation will post 10.33 EPS for the current year.

CDW Dividend Announcement

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

CDW Profile

CDW NASDAQ: CDW is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.

CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.

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