Van ECK Associates Corp lowered its position in shares of CDW Corporation (NASDAQ:CDW – Free Report) by 13.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,706 shares of the information technology services provider’s stock after selling 3,929 shares during the quarter. Van ECK Associates Corp’s holdings in CDW were worth $3,475,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of CDW. Root Financial Partners LLC raised its position in shares of CDW by 54.7% during the 1st quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 93 shares during the period. New Mexico Educational Retirement Board boosted its holdings in CDW by 1.7% in the 4th quarter. New Mexico Educational Retirement Board now owns 6,050 shares of the information technology services provider’s stock worth $824,000 after buying an additional 100 shares during the period. Hollencrest Capital Management increased its stake in CDW by 909.1% in the 1st quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock worth $27,000 after buying an additional 200 shares in the last quarter. Allied Private Wealth LLC bought a new stake in CDW during the second quarter valued at about $28,000. Finally, Keating Financial Advisory Services Inc. purchased a new position in shares of CDW in the second quarter valued at about $28,000. 93.15% of the stock is currently owned by institutional investors.
More CDW News
Here are the key news stories impacting CDW this week:
- Positive Sentiment: AI and data-services expansion: Lovelytics specializes in helping organizations turn data into business value, adding consulting and implementation expertise to CDW’s technology-solutions portfolio. The acquisition supports CDW’s strategy of expanding beyond hardware and traditional IT distribution into faster-growing AI services. CDW Agrees to Acquire Lovelytics
- Positive Sentiment: Potential cross-selling opportunity: CDW can combine Lovelytics’ data and AI capabilities with its broad customer relationships and technology ecosystem, potentially increasing the value of its services engagements with businesses and public-sector clients. CDW To Acquire Lovelytics For Approximately $525 Million to Expand Data and AI Services
- Positive Sentiment: Analyst sentiment remains supportive: CDW received a consensus “Moderate Buy” rating, providing an additional favorable backdrop for the stock. CDW Corporation Receives Consensus Rating of Moderate Buy
- Neutral Sentiment: Coverage from technology and legal publications confirms the acquisition and highlights CDW’s growing AI focus. However, the articles provide limited detail on Lovelytics’ financial contribution, integration plans, or the deal’s effect on near-term earnings. CDW Expands AI Expertise
- Negative Sentiment: Execution and valuation risks: The roughly $525 million purchase price creates integration and return-on-investment risks. Investors will likely watch the funding structure, closing conditions, and whether Lovelytics produces enough growth and profit to justify the investment.
CDW Stock Up 3.5%
CDW (NASDAQ:CDW – Get Free Report) last posted its earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.11. CDW had a net margin of 4.60% and a return on equity of 50.61%. The firm had revenue of $6.57 billion during the quarter, compared to analyst estimates of $6.21 billion. During the same period last year, the firm posted $2.60 earnings per share. CDW’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, equities analysts expect that CDW Corporation will post 10.33 earnings per share for the current fiscal year.
CDW Dividend Announcement
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 paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, August 25th. CDW’s dividend payout ratio (DPR) is presently 30.29%.
Insider Activity at CDW
In other news, insider Elizabeth Connelly sold 26,695 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $137.62, for a total value of $3,673,765.90. Following the sale, the insider directly owned 34,215 shares in the company, valued at $4,708,668.30. The trade was a 43.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.82% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on CDW shares. Royal Bank Of Canada raised CDW to an “outperform” rating and set a $130.00 price target on the stock in a report on Wednesday, May 27th. Morgan Stanley boosted their target price on shares of CDW from $170.00 to $171.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Citigroup raised their target price on shares of CDW from $123.00 to $145.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Weiss Ratings upgraded shares of CDW from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. Finally, JPMorgan Chase & Co. upgraded shares of CDW from a “neutral” rating to an “overweight” rating and set a $130.00 price target on the stock in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, CDW currently has an average rating of “Moderate Buy” and an average target price of $147.00.
Read Our Latest Stock Analysis on CDW
CDW Company Profile
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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