Westwood Holdings Group Inc. Makes New Investment in CDW Corporation (NASDAQ:CDW)

Key Points

• Westwood Holdings Group Inc. has invested approximately $3.21 million in a new stake of 20,030 shares in CDW Corporation during the first quarter.
• Recent analyst reports show a mixed outlook for CDW, with price targets ranging from $200 to $210, and an overall consensus rating of "Hold."
• CDW has declared a quarterly dividend of $0.625 per share, reflecting a 1.5% yield and a dividend payout ratio of 30.98%.

Westwood Holdings Group Inc. purchased a new stake in CDW Corporation (NASDAQ:CDW - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,030 shares of the information technology services provider's stock, valued at approximately $3,210,000.

Several other large investors have also modified their holdings of the business. GW&K Investment Management LLC lifted its stake in shares of 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 purchased a new position in shares of CDW during the fourth quarter valued at approximately $30,000. Bayforest Capital Ltd purchased a new position in shares of CDW during the first quarter valued at approximately $31,000. Optiver Holding B.V. boosted its holdings in shares of CDW by 107.2% in the 4th quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock valued at $40,000 after purchasing an additional 119 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its holdings in shares of CDW by 237.2% in the 1st 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. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, insider Frederick J. Kulevich sold 28,159 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $190.90, for a total transaction of $5,375,553.10. Following the completion of the sale, the insider directly owned 36,077 shares of the company's stock, valued at approximately $6,887,099.30. This trade represents a 43.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.84% of the company's stock.

CDW Trading Up 0.6%

Shares of CDW stock traded up $1.04 during mid-day trading on Friday, reaching $162.92. The company's stock had a trading volume of 1,066,641 shares, compared to its average volume of 1,080,320. The company's 50 day simple moving average is $176.17 and its 200-day simple moving average is $174.81. CDW Corporation has a 12-month low of $137.31 and a 12-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 firm has a market capitalization of $21.45 billion, a PE ratio of 20.24, a price-to-earnings-growth ratio of 2.74 and a beta of 0.95.

CDW (NASDAQ:CDW - Get Free Report) last issued its earnings results 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 net margin of 4.92% and a return on equity of 53.63%. The business had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter last year, the firm posted $2.50 EPS. The business's revenue for the quarter was up 10.2% compared to the same quarter last year. On average, research analysts predict that CDW Corporation will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 25th will be issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Monday, August 25th. CDW's dividend payout ratio (DPR) is presently 31.06%.

CDW Company 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.