Sowell Financial Services LLC raised its holdings in CDW Corporation (NASDAQ:CDW – Free Report) by 113.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,779 shares of the information technology services provider’s stock after acquiring an additional 4,128 shares during the period. Sowell Financial Services LLC’s holdings in CDW were worth $997,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of CDW. BlackRock Inc. acquired a new position in shares of CDW during the 2nd quarter worth approximately $2,143,082,000. Pzena Investment Management LLC acquired a new stake in shares of CDW in the second quarter valued at approximately $371,135,000. Jupiter Topco LLC purchased a new position in CDW during the second quarter worth approximately $300,073,000. Alyeska Investment Group L.P. lifted its position in CDW by 197.1% during the second quarter. Alyeska Investment Group L.P. now owns 1,854,952 shares of the information technology services provider’s stock worth $260,880,000 after buying an additional 1,230,517 shares in the last quarter. Finally, Bank of America Corp DE acquired a new position in CDW during the second quarter worth $255,058,000. Institutional investors and hedge funds own 93.15% of the company’s stock.
Insiders Place Their Bets
In other CDW news, insider Elizabeth Connelly sold 26,695 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $137.62, for a total value of $3,673,765.90. Following the sale, the insider owned 34,215 shares of the company’s stock, valued at $4,708,668.30. The trade was a 43.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.82% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have issued reports on the company. Weiss Ratings upgraded CDW from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. Citigroup lifted their price target on CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Barclays lowered their price target on shares of CDW from $150.00 to $148.00 and set an “equal weight” rating on the stock in a research report on Monday, September 21st. Finally, Morgan Stanley upped their price objective on shares of CDW from $170.00 to $171.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $150.12.
Get Our Latest Stock Analysis on CDW
CDW Stock Performance
Shares of CDW stock opened at $153.79 on Monday. CDW Corporation has a 1-year low of $97.12 and a 1-year high of $166.15. The firm has a market cap of $19.23 billion, a PE ratio of 18.48, a price-to-earnings-growth ratio of 2.02 and a beta of 0.92. The company has a 50-day moving average of $147.08 and a two-hundred day moving average of $133.12. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.17 and a quick ratio of 1.05.
CDW (NASDAQ:CDW – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share (EPS) 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 business had revenue of $6.57 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same period in the previous year, the firm earned $2.60 EPS. The business’s revenue was up 10.0% on a year-over-year basis. On average, analysts predict that CDW Corporation will post 10.33 EPS for the current year.
CDW Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Tuesday, August 25th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.6%. The ex-dividend date was Tuesday, August 25th. CDW’s dividend payout ratio (DPR) is 30.29%.
CDW Company Profile
CDW Corporation (NASDAQ: CDW) is a provider of technology products and services for business, government, education and healthcare organizations. The company helps customers plan, procure, implement and manage information technology solutions from leading hardware, software and cloud vendors.
Its offerings include computers, servers, networking equipment, data-storage systems, cybersecurity products, collaboration tools, software licensing and cloud solutions. CDW also provides professional and managed services, including technology consulting, infrastructure deployment, cloud management, security support and lifecycle services.
Founded in 1984 as Computer Discount Warehouse, CDW serves customers primarily in the United States, Canada and the United Kingdom through sales teams, digital channels and technology partnerships.
Read More
- Five stocks we like better than CDW
- Marvell Eyes a Swing for the AI Networking Fences as Markets Weigh Lumentum Price Tag
- Exxon’s Refining Profits Soared—Did Chevron Get the Same Windfall?
- Eli Lilly’s First Full Medicare Quarter: Is Volume Still Outrunning Price Cuts?
- Oracle’s AI Spending Peak Is in Sight—Can the Stock Recover?
Want to see what other hedge funds are holding CDW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CDW Corporation (NASDAQ:CDW – Free Report).
Receive News & Ratings for CDW Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CDW and related companies with MarketBeat.com's FREE daily email newsletter.
