2,782 Shares in CDW Corporation $CDW Acquired by Sciencast Management LP

Key Points

• Sciencast Management LP has acquired 2,782 shares of CDW Corporation for approximately $446,000, marking its first investment in the company.
• Several institutional investors have significantly increased their stakes in CDW, resulting in them collectively owning 93.15% of the company's stock.
• CDW recently reported earnings that exceeded expectations, with a quarterly revenue of $5.98 billion and earnings per share of $2.60, prompting analysts to forecast robust growth.

Sciencast Management LP purchased a new stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,782 shares of the information technology services provider's stock, valued at approximately $446,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GW&K Investment Management LLC grew its position in CDW by 78.9% during the first quarter. GW&K Investment Management LLC now owns 170 shares of the information technology services provider's stock valued at $27,000 after buying an additional 75 shares during the period. Orion Capital Management LLC acquired a new stake in shares of CDW in the fourth quarter valued at about $30,000. Bayforest Capital Ltd acquired a new stake in shares of CDW in the first quarter valued at about $31,000. Pandora Wealth Inc. acquired a new stake in shares of CDW in the first quarter valued at about $32,000. Finally, Stone House Investment Management LLC acquired a new stake in shares of CDW in the first quarter valued at about $34,000. Institutional investors and hedge funds own 93.15% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CDW. JPMorgan Chase & Co. lifted their target price on shares of CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Citigroup upped their price target on CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. UBS Group decreased their target price on shares of CDW from $210.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Finally, Barclays decreased their target price on shares of CDW from $205.00 to $176.00 and set an "equal weight" rating on the stock in a report on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, CDW presently has a consensus rating of "Hold" and a consensus target price of $202.00.

CDW Trading Down 0.9%

Shares of CDW stock traded down $1.44 during trading hours on Friday, hitting $164.29. The company had a trading volume of 1,120,717 shares, compared to its average volume of 1,134,673. The company's fifty day moving average is $170.85 and its 200 day moving average is $170.02. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.35 and a quick ratio of 1.22. CDW Corporation has a fifty-two week low of $137.31 and a fifty-two week high of $230.86. The stock has a market capitalization of $21.53 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 2.73 and a beta of 0.98.

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

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Monday, August 25th were issued a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Monday, August 25th. CDW's dividend payout ratio is currently 31.06%.

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.