CDW Corporation $CDW Shares Purchased by Tidal Investments LLC

Tidal Investments LLC boosted its position in shares of CDW Corporation (NASDAQ:CDW) by 82.5% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 46,504 shares of the information technology services provider’s stock after acquiring an additional 21,019 shares during the quarter. Tidal Investments LLC’s holdings in CDW were worth $6,540,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Allied Private Wealth LLC purchased a new stake in CDW during the 2nd quarter valued at about $28,000. Keating Financial Advisory Services Inc. purchased a new position in shares of CDW in the second quarter worth about $28,000. Community Bank N.A. purchased a new position in shares of CDW in the second quarter worth about $31,000. Hollencrest Capital Management lifted its holdings in shares of CDW by 909.1% during the first quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 200 shares during the period. Finally, Root Financial Partners LLC lifted its holdings in shares of CDW by 54.7% during the first quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 93 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Insider Activity at CDW

In other news, insider Elizabeth Connelly sold 26,695 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $137.62, for a total transaction 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. This trade represents a 43.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.82% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently commented on CDW. Weiss Ratings upgraded CDW from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. Barclays raised their price target on shares of CDW from $123.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Royal Bank Of Canada raised shares of CDW to an “outperform” rating and set a $130.00 price objective on the stock in a report on Wednesday, May 27th. JPMorgan Chase & Co. upgraded shares of CDW from a “neutral” rating to an “overweight” rating and set a $130.00 price objective on the stock in a research note on Wednesday, May 27th. Finally, Morgan Stanley raised 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. One 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 company’s stock. According to MarketBeat, CDW currently has an average rating of “Moderate Buy” and an average price target of $150.38.

CDW Stock Up 7.8%

Shares of CDW opened at $153.79 on Friday. CDW Corporation has a 52 week low of $97.12 and a 52 week high of $169.20. The company has a quick ratio of 1.05, a current ratio of 1.17 and a debt-to-equity ratio of 1.97. The company has a market capitalization of $19.23 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 2.01 and a beta of 0.95. The stock’s 50-day moving average price is $140.96 and its 200-day moving average price is $130.01.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 EPS for the quarter, topping the consensus estimate of $2.80 by $0.11. The firm had revenue of $6.57 billion for the quarter, compared to analyst estimates of $6.21 billion. CDW had a return on equity of 50.61% and a net margin of 4.60%.CDW’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the company earned $2.60 earnings per share. On average, sell-side analysts predict that CDW Corporation will post 10.33 EPS for the current year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th were given 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 is currently 30.29%.

CDW Profile

CDW Corporation (NASDAQ: CDW) is a provider of technology products and services for businesses, government agencies, educational institutions and healthcare organizations. The company helps customers design, acquire, configure and manage information technology environments.

Its offerings include computers, servers, networking equipment, software, data storage, cybersecurity products, cloud solutions and collaboration tools. CDW also provides professional, managed and lifecycle services, including solution design, implementation, security support, cloud management and IT asset management.

Founded in 1984, CDW serves customers primarily in the United States, Canada and the United Kingdom through a combination of sales specialists, technology partners and digital commerce platforms.