LPL Financial LLC Grows Stock Position in CDW Corporation (NASDAQ:CDW)

Key Points

• LPL Financial LLC increased its stake in CDW Corporation by 63.1%, now owning 68,736 shares worth $11,016,000.
• Insider Frederick J. Kulevich sold 28,159 shares at an average price of $190.90, reducing his ownership by 43.84%.
• CDW reported Q2 earnings of $2.60 EPS, beating estimates, with revenue growing 10.2% year-over-year to $5.98 billion.

LPL Financial LLC raised its holdings in CDW Corporation (NASDAQ:CDW - Free Report) by 63.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 68,736 shares of the information technology services provider's stock after purchasing an additional 26,604 shares during the period. LPL Financial LLC owned about 0.05% of CDW worth $11,016,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. GW&K Investment Management LLC raised its position in shares of CDW by 78.9% during 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 acquiring an additional 75 shares in the last quarter. Orion Capital Management LLC bought a new position in CDW during the fourth quarter valued at about $30,000. Optiver Holding B.V. boosted its stake in CDW by 107.2% during the fourth quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock valued at $40,000 after buying an additional 119 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of CDW by 237.2% during 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 purchasing an additional 185 shares during the last quarter. Finally, Global X Japan Co. Ltd. acquired a new stake in CDW during the 1st quarter worth about $43,000. 93.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at CDW

In other news, insider Frederick J. Kulevich sold 28,159 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $190.90, for a total transaction of $5,375,553.10. Following the completion of the transaction, the insider directly owned 36,077 shares of the company's stock, valued at $6,887,099.30. This represents a 43.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.84% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Citigroup raised their price objective on CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. JPMorgan Chase & Co. raised their target price on CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Barclays decreased their price objective on CDW from $205.00 to $176.00 and set an "equal weight" rating on the stock in a report on Thursday. Finally, UBS Group decreased their price target on CDW from $210.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $202.00.

CDW Trading Down 2.2%

CDW stock opened at $161.88 on Friday. The company has a market cap of $21.32 billion, a P/E ratio of 20.11, a PEG ratio of 2.78 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 quick ratio of 1.20, a current ratio of 1.35 and a debt-to-equity ratio of 2.28. The business has a fifty day moving average of $176.50 and a 200-day moving average of $175.14.

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

CDW Announces Dividend

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