Nwam LLC Makes New Investment in CDW Corporation $CDW

Nwam LLC purchased a new position in shares of CDW Corporation (NASDAQ:CDW) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 26,524 shares of the information technology services provider’s stock, valued at approximately $3,730,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CDW. BlackRock Inc. acquired a new stake in shares of CDW in the second quarter valued at about $2,143,082,000. Pzena Investment Management LLC acquired a new position in CDW during the second quarter worth about $371,135,000. Jupiter Topco LLC purchased a new position in CDW in the second quarter valued at about $300,073,000. Bank of America Corp DE purchased a new position in CDW in the second quarter valued at about $255,058,000. Finally, Alyeska Investment Group L.P. lifted its position in shares of CDW by 197.1% during the 2nd quarter. Alyeska Investment Group L.P. now owns 1,854,952 shares of the information technology services provider’s stock valued at $260,880,000 after acquiring an additional 1,230,517 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

CDW has been the topic of several research analyst reports. UBS Group decreased their price target on CDW from $162.00 to $147.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Royal Bank Of Canada raised CDW to an “outperform” rating and set a $130.00 price objective for the company in a research note on Wednesday, May 27th. Weiss Ratings upgraded CDW from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. Raymond James Financial set a $150.00 target price on CDW in a research report on Wednesday, May 6th. Finally, Barclays lowered their target price on CDW from $144.00 to $123.00 and set an “equal weight” rating on the stock in a report on Thursday, May 7th. 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

Insiders Place Their Bets

In other news, insider Elizabeth H. Connelly sold 26,695 shares of the business’s stock in a transaction 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 completion of the transaction, the insider directly 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.82% of the company’s stock.

CDW Stock Down 0.8%

CDW stock opened at $150.30 on Wednesday. The company’s 50 day simple moving average is $138.69 and its 200-day simple moving average is $128.73. The firm has a market capitalization of $18.79 billion, a PE ratio of 18.06, a P/E/G ratio of 1.99 and a beta of 0.95. CDW Corporation has a 12 month low of $97.12 and a 12 month high of $171.55. 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) last issued its quarterly earnings data on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share 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 business had revenue of $6.57 billion during the quarter, compared to analysts’ expectations of $6.21 billion. During the same period last year, the company posted $2.60 EPS. The company’s revenue was up 10.0% on a year-over-year basis. Equities analysts expect that CDW Corporation will post 10.33 earnings per share for the current fiscal year.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th will be given 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 1.7%. CDW’s dividend payout ratio (DPR) is presently 30.29%.

CDW Company 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.