Nwam LLC Acquires Shares of 26,524 CDW Corporation $CDW

Key Points

• Nwam LLC acquired 26,524 shares of CDW during the second quarter, valued at approximately $3.73 million. Institutional investors collectively own 93.15% of the company, with several other funds also initiating or increasing positions.
• CDW reported quarterly EPS of $2.91, exceeding estimates of $2.80, while revenue reached $6.57 billion, up 10% year over year and above analyst expectations.
• CDW declared a quarterly dividend of $0.63 per share, or $2.52 annualized, representing a 1.7% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $147.

Nwam LLC acquired a new stake in CDW Corporation (NASDAQ:CDW - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 26,524 shares of the information technology services provider's stock, valued at approximately $3,730,000.

A number of other hedge funds have also modified their holdings of the business. BNP Paribas Financial Markets boosted its stake in CDW by 20.5% during the 4th quarter. BNP Paribas Financial Markets now owns 284,965 shares of the information technology services provider's stock worth $38,812,000 after purchasing an additional 48,547 shares during the period. Kendall Capital Management acquired a new position in CDW in the second quarter valued at $3,584,000. Pzena Investment Management LLC purchased a new stake in shares of CDW in the second quarter valued at about $371,135,000. Commerzbank Aktiengesellschaft FI purchased a new stake in shares of CDW in the first quarter valued at about $1,587,000. Finally, Jupiter Topco LLC acquired a new stake in shares of CDW during the second quarter worth about $300,073,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Stock Down 0.8%

CDW stock opened at $150.30 on Wednesday. The stock has a market capitalization of $18.79 billion, a PE ratio of 18.06, a price-to-earnings-growth ratio of 1.99 and a beta of 0.95. The company has a fifty day moving average of $138.69 and a 200-day moving average of $128.73. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.05 and a current ratio of 1.17. CDW Corporation has a one year low of $97.12 and a one year high of $171.55.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.80 by $0.11. The business 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 business's revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.60 earnings per share. As a group, analysts expect that CDW Corporation will post 10.33 EPS for the current year.

CDW Announces Dividend

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

Insider Transactions at CDW

In other CDW news, insider Elizabeth H. Connelly sold 26,695 shares of the business'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 transaction of $3,673,765.90. Following the transaction, the insider owned 34,215 shares in the company, valued at approximately $4,708,668.30. The trade was a 43.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CDW shares. UBS Group lowered their price target on CDW from $162.00 to $147.00 and set a "buy" rating on the stock in a report on Thursday, May 7th. Weiss Ratings raised CDW from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 25th. Raymond James Financial set a $150.00 price objective on CDW in a research report on Wednesday, May 6th. Citigroup lifted their target price on CDW from $123.00 to $145.00 and gave the company a "neutral" rating in a research note on Monday, July 13th. Finally, Morgan Stanley boosted their target price on CDW from $170.00 to $171.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $147.00.

About CDW

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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