Headlands Technologies LLC Grows Stock Holdings in CDW Corporation (NASDAQ:CDW)

Key Points

• Headlands Technologies LLC increased its stock holdings in CDW Corporation by 5.6%, owning 30,774 shares valued at approximately $4.9 million as of the latest SEC filing.
• Analysts have mixed ratings for CDW, with Barclays lowering its price target from $223 to $205 while JPMorgan raised it from $185 to $205, resulting in a current consensus target price of $208.50.
• CDW has declared a quarterly dividend of $0.625 per share, with an annualized yield of 1.5% and a payout ratio of approximately 31%.

Headlands Technologies LLC grew its position in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 5.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,774 shares of the information technology services provider's stock after acquiring an additional 1,624 shares during the period. Headlands Technologies LLC's holdings in CDW were worth $4,932,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. GW&K Investment Management LLC lifted its holdings in 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 worth $27,000 after buying an additional 75 shares during the period. Orion Capital Management LLC purchased a new position in shares of CDW during the fourth quarter valued at approximately $30,000. Bayforest Capital Ltd bought a new position in shares of CDW during the first quarter valued at approximately $31,000. Optiver Holding B.V. lifted its stake in CDW by 107.2% in the fourth quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock worth $40,000 after acquiring an additional 119 shares during the period. Finally, Golden State Wealth Management LLC boosted its holdings in CDW by 237.2% in the first quarter. Golden State Wealth Management LLC now owns 263 shares of the information technology services provider's stock valued at $42,000 after acquiring an additional 185 shares in the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CDW. Barclays decreased their price objective on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. JPMorgan Chase & Co. increased their price target on shares of CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. UBS Group lowered their price objective on shares of CDW from $236.00 to $210.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Finally, Citigroup lifted their price objective on CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $208.50.

Insider Buying and Selling at CDW

In related news, insider Frederick J. Kulevich sold 28,159 shares of the company's stock in a transaction dated 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 in the company, valued at $6,887,099.30. The trade was a 43.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.84% of the stock is owned by insiders.

CDW Price Performance

Shares of CDW opened at $165.51 on Thursday. CDW Corporation has a fifty-two week low of $137.31 and a fifty-two week high of $231.38. The firm's 50-day simple moving average is $176.91 and its two-hundred day simple moving average is $175.33. The stock has a market cap of $21.79 billion, a PE ratio of 20.51, a price-to-earnings-growth ratio of 2.78 and a beta of 0.95. The company has a debt-to-equity ratio of 2.42, a quick ratio of 1.20 and a current ratio of 1.32.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.11. CDW had a return on equity of 54.90% and a net margin of 5.10%. The company had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the prior year, the business posted $2.50 EPS. The firm's quarterly revenue was up 10.2% compared to the same quarter last year. Analysts anticipate that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 25th will be issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.5%. CDW's payout ratio is presently 30.98%.

About CDW

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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