R Squared Ltd Makes New $373,000 Investment in CDW Corporation (NASDAQ:CDW)

Key Points

• R Squared Ltd has acquired a new stake of 2,330 shares in CDW Corporation, valued at approximately $373,000, as reported in their SEC filing.
• Several hedge funds have increased their positions in CDW, with Envestnet Asset Management Inc. boosting its holdings by 20.8%.
• CDW recently announced a quarterly dividend of $0.625 per share, resulting in an annualized yield of 1.5%.

R Squared Ltd bought a new stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,330 shares of the information technology services provider's stock, valued at approximately $373,000.

Other hedge funds have also added to or reduced their stakes in the company. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in shares of CDW during the first quarter worth about $497,000. Sound View Wealth Advisors Group LLC boosted its stake in CDW by 7.5% in the first quarter. Sound View Wealth Advisors Group LLC now owns 1,297 shares of the information technology services provider's stock worth $208,000 after buying an additional 91 shares in the last quarter. Natixis Advisors LLC boosted its stake in CDW by 15.6% in the first quarter. Natixis Advisors LLC now owns 340,889 shares of the information technology services provider's stock worth $54,631,000 after buying an additional 46,049 shares in the last quarter. Bayforest Capital Ltd purchased a new stake in CDW in the first quarter worth approximately $31,000. Finally, Vestcor Inc boosted its stake in CDW by 1.8% in the first quarter. Vestcor Inc now owns 4,068 shares of the information technology services provider's stock worth $652,000 after buying an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.

CDW Trading Up 0.2%

Shares of NASDAQ CDW traded up $0.27 during trading on Wednesday, reaching $165.51. The stock had a trading volume of 2,697,475 shares, compared to its average volume of 1,331,935. CDW Corporation has a fifty-two week low of $137.31 and a fifty-two week high of $231.38. The company has a debt-to-equity ratio of 2.42, a quick ratio of 1.20 and a current ratio of 1.32. The business's 50-day moving average price is $177.27 and its 200-day moving average price is $175.40. The company has a market cap of $21.79 billion, a P/E ratio of 20.51, a PEG ratio of 2.89 and a beta of 0.95.

CDW (NASDAQ:CDW - Get Free Report) last released its earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share (EPS) 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%. CDW's revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.50 EPS. On average, equities research analysts predict that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

The firm also recently disclosed 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 dividend payout ratio (DPR) is 30.98%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. JPMorgan Chase & Co. upped their target price on CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Barclays lowered their price objective on CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a research report on Thursday, May 8th. UBS Group lowered their price objective on CDW from $236.00 to $210.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Finally, Citigroup boosted 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 assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $208.50.

Insider Buying and Selling at CDW

In other news, insider Christine A. Leahy sold 40,917 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $181.42, for a total transaction of $7,423,162.14. Following the sale, the insider owned 144,931 shares in the company, valued at $26,293,382.02. This trade represents a 22.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Frederick J. Kulevich sold 28,159 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $190.90, for a total value of $5,375,553.10. Following the sale, the insider owned 36,077 shares in the company, valued at $6,887,099.30. This trade represents a 43.84% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

CDW 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.