Jupiter Topco LLC Makes New $300.07 Million Investment in CDW Corporation $CDW

Jupiter Topco LLC acquired a new stake in CDW Corporation (NASDAQ:CDW) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,133,623 shares of the information technology services provider’s stock, valued at approximately $300,073,000. Jupiter Topco LLC owned 1.71% of CDW at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CDW. Hollencrest Capital Management raised its stake in CDW by 909.1% during the 1st 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 last quarter. Allied Private Wealth LLC bought a new position in shares of CDW during the 2nd quarter worth about $28,000. Keating Financial Advisory Services Inc. acquired a new position in shares of CDW during the second quarter valued at about $28,000. Root Financial Partners LLC raised its position 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 valued at $32,000 after buying an additional 93 shares during the last quarter. Finally, Johnson Financial Group Inc. bought a new stake in shares of CDW in the second quarter valued at about $51,000. Institutional investors own 93.15% of the company’s stock.

Insider Buying and Selling

In related news, insider Elizabeth H. Connelly sold 26,695 shares of CDW stock in a transaction dated 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 completion of the sale, the insider directly owned 34,215 shares in the company, valued at $4,708,668.30. This trade represents a 43.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.82% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on CDW. Raymond James Financial set a $150.00 price target on CDW in a report on Wednesday, May 6th. Morgan Stanley boosted their price objective on 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 for the company in a research note on Wednesday, May 27th. UBS Group reduced their target price on CDW from $162.00 to $147.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada raised shares of CDW to an “outperform” rating and set a $130.00 price target on the stock 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 assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $147.00.

CDW Stock Performance

Shares of NASDAQ:CDW opened at $142.09 on Wednesday. The business has a fifty day moving average of $136.63 and a 200-day moving average of $128.48. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.05 and a current ratio of 1.17. CDW Corporation has a twelve month low of $97.12 and a twelve month high of $171.55. The firm has a market cap of $17.76 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 1.74 and a beta of 0.96.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, August 5th. The information technology services provider reported $2.91 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $6.21 billion. During the same quarter in the prior year, the firm earned $2.60 EPS. The company’s revenue was up 10.0% on a year-over-year basis. On average, equities research analysts predict that CDW Corporation will post 10.28 EPS for the current fiscal year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th will be issued a dividend of $0.63 per share. 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 is currently 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.