Catalyst Funds Management Pty Ltd Acquires Shares of 9,500 CDW Corporation $CDW

Catalyst Funds Management Pty Ltd acquired a new stake in shares of CDW Corporation (NASDAQ:CDW) in the fourth quarter, Holdings Channel reports. The firm acquired 9,500 shares of the information technology services provider’s stock, valued at approximately $1,294,000.

A number of other large investors have also added to or reduced their stakes in CDW. Marshall Wace LLP raised its stake in CDW by 255.7% during the third quarter. Marshall Wace LLP now owns 599,248 shares of the information technology services provider’s stock valued at $95,448,000 after buying an additional 430,796 shares during the last quarter. Border to Coast Pensions Partnership Ltd purchased a new position in CDW during the third quarter valued at $29,649,000. SG Americas Securities LLC raised its stake in CDW by 531.9% during the fourth quarter. SG Americas Securities LLC now owns 189,285 shares of the information technology services provider’s stock valued at $25,781,000 after buying an additional 159,332 shares during the last quarter. Life Cycle Investment Partners Ltd purchased a new position in CDW during the fourth quarter valued at $18,948,000. Finally, PFA Pension Forsikringsaktieselskab purchased a new position in shares of CDW in the fourth quarter worth $16,274,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

Shares of CDW opened at $110.82 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.16 and a quick ratio of 1.06. CDW Corporation has a one year low of $97.12 and a one year high of $186.70. The firm has a market capitalization of $14.16 billion, a P/E ratio of 13.48, a PEG ratio of 1.50 and a beta of 1.04. The business has a fifty day moving average of $120.92 and a 200 day moving average of $130.31.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, May 6th. The information technology services provider reported $2.28 EPS for the quarter, hitting the consensus estimate of $2.28. CDW had a return on equity of 49.67% and a net margin of 4.70%.The company had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.48 billion. During the same quarter in the previous year, the company posted $2.15 earnings per share. CDW’s revenue was up 9.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that CDW Corporation will post 10 EPS for the current year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Monday, May 25th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $2.52 annualized dividend and a dividend yield of 2.3%. CDW’s payout ratio is presently 30.66%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CDW. Morgan Stanley boosted their price target on CDW from $141.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. Weiss Ratings restated a “hold (c-)” rating on shares of CDW in a research note on Friday, April 24th. UBS Group decreased their price target on CDW from $162.00 to $147.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Barclays decreased their price target on CDW from $144.00 to $123.00 and set an “equal weight” rating for the company in a research note on Thursday, May 7th. Finally, Citigroup decreased their price target on CDW from $150.00 to $123.00 and set a “neutral” rating for the company in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $142.14.

CDW 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.