Wealthfront Advisers LLC Buys New Position in CDW Corporation $CDW

Wealthfront Advisers LLC acquired a new position in shares of CDW Corporation (NASDAQ:CDW) in the 2nd quarter, HoldingsChannel reports. The fund acquired 7,966 shares of the information technology services provider’s stock, valued at approximately $1,120,000.

Several other hedge funds also recently modified their holdings of the stock. Root Financial Partners LLC grew its holdings in CDW by 54.7% in 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. New Mexico Educational Retirement Board raised its holdings in shares of CDW by 1.7% during the fourth quarter. New Mexico Educational Retirement Board now owns 6,050 shares of the information technology services provider’s stock valued at $824,000 after purchasing an additional 100 shares during the period. Hollencrest Capital Management raised 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 valued at $27,000 after purchasing an additional 200 shares during the period. Allied Private Wealth LLC bought a new position in shares of CDW during the 2nd quarter worth about $28,000. Finally, Empowered Funds LLC boosted its position in shares of CDW by 1.2% during the 1st quarter. Empowered Funds LLC now owns 18,076 shares of the information technology services provider’s stock worth $2,897,000 after purchasing an additional 216 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on CDW shares. Morgan Stanley lifted their price target on shares of CDW from $170.00 to $171.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. upgraded CDW from a “neutral” rating to an “overweight” rating and set a $130.00 target price on the stock in a research note on Wednesday, May 27th. Raymond James Financial set a $150.00 price target on shares of CDW in a report on Wednesday, May 6th. Barclays reduced their price target on shares of CDW from $144.00 to $123.00 and set an “equal weight” rating for the company in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada upgraded shares of CDW to an “outperform” rating and set a $130.00 price objective for the company in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $147.00.

Insider Activity

In other CDW news, Director David W. Nelms bought 18,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was purchased at an average price of $111.43 per share, for a total transaction of $2,005,740.00. Following the completion of the transaction, the director directly owned 51,025 shares of the company’s stock, valued at $5,685,715.75. This trade represents a 54.50% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Elizabeth H. Connelly sold 26,695 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $137.62, for a total transaction of $3,673,765.90. Following the transaction, the insider owned 34,215 shares of the company’s stock, valued at $4,708,668.30. This represents a 43.83% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.82% of the company’s stock.

CDW Price Performance

Shares of NASDAQ CDW opened at $137.25 on Friday. The stock has a fifty day simple moving average of $136.37 and a two-hundred day simple moving average of $128.40. CDW Corporation has a 1-year low of $97.12 and a 1-year high of $171.55. The firm has a market cap of $17.16 billion, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 1.76 and a beta of 0.96. The company has a current ratio of 1.17, a quick ratio of 1.05 and a debt-to-equity ratio of 1.97.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.11. CDW had a return on equity of 50.61% and a net margin of 4.60%.The firm had revenue of $6.57 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same period in the previous year, the company posted $2.60 earnings per share. The business’s revenue was up 10.0% on a year-over-year basis. Analysts anticipate that CDW Corporation will post 10.28 earnings per share for the current year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Tuesday, August 25th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $2.52 annualized dividend and a yield of 1.8%. CDW’s dividend payout ratio (DPR) is 30.29%.

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.