CDW Corporation $CDW Shares Purchased by Scientech Research LLC

Scientech Research LLC boosted its stake in CDW Corporation (NASDAQ:CDW - Free Report) by 32.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 6,019 shares of the information technology services provider's stock after purchasing an additional 1,485 shares during the period. Scientech Research LLC's holdings in CDW were worth $965,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its holdings in CDW by 20.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 207,506 shares of the information technology services provider's stock valued at $33,255,000 after purchasing an additional 35,737 shares during the last quarter. Unison Asset Management LLC increased its holdings in CDW by 9.4% in the 1st quarter. Unison Asset Management LLC now owns 42,389 shares of the information technology services provider's stock valued at $6,339,000 after purchasing an additional 3,657 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in CDW by 1.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,942 shares of the information technology services provider's stock valued at $963,000 after purchasing an additional 94 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in CDW by 8.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 19,995 shares of the information technology services provider's stock valued at $3,204,000 after purchasing an additional 1,604 shares during the last quarter. Finally, OneDigital Investment Advisors LLC purchased a new position in CDW in the 1st quarter valued at approximately $212,000. Institutional investors and hedge funds own 93.15% of the company's stock.

Analysts Set New Price Targets

CDW has been the subject of several recent research reports. JPMorgan Chase & Co. raised their price target 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. Barclays decreased their price target on shares of CDW from $205.00 to $176.00 and set an "equal weight" rating for the company in a research report on Thursday, August 7th. Citigroup raised their price target on shares of CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. Finally, UBS Group decreased their price target on shares of CDW from $210.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $202.00.

CDW Stock Down 0.9%

Shares of CDW stock traded down $1.44 during trading on Friday, hitting $164.29. 1,120,717 shares of the stock were exchanged, compared to its average volume of 1,170,116. The stock has a market cap of $21.53 billion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 2.75 and a beta of 0.98. The firm's 50-day moving average price is $170.85 and its 200 day moving average price is $170.08. CDW Corporation has a 12-month low of $137.31 and a 12-month high of $230.86. 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 (NASDAQ:CDW - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $5.98 billion during the quarter, compared to analysts' expectations of $5.51 billion. CDW had a net margin of 4.92% and a return on equity of 53.63%. The company's revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.50 EPS. As a group, analysts forecast that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Monday, August 25th were 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 was Monday, August 25th. CDW's payout ratio is 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.