Baird Financial Group Inc. Boosts Holdings in CDW Corporation $CDW

Baird Financial Group Inc. increased its stake in shares of CDW Corporation (NASDAQ:CDW) by 69.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 140,927 shares of the information technology services provider’s stock after purchasing an additional 57,862 shares during the quarter. Baird Financial Group Inc.’s holdings in CDW were worth $19,820,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. California State Teachers Retirement System boosted its stake in CDW by 13,221.2% in the second quarter. California State Teachers Retirement System now owns 29,850,699 shares of the information technology services provider’s stock valued at $4,198,202,000 after acquiring an additional 29,626,614 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of CDW during the second quarter worth about $2,143,082,000. Pzena Investment Management LLC acquired a new stake in shares of CDW during the second quarter worth about $371,135,000. Jupiter Topco LLC purchased a new stake in shares of CDW in the 2nd quarter valued at about $300,073,000. Finally, Alyeska Investment Group L.P. boosted its position in shares of CDW by 197.1% in 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 purchasing an additional 1,230,517 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Elizabeth Connelly sold 26,695 shares of CDW stock in a transaction on 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 directly owned 34,215 shares in the company, valued at approximately $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 can be accessed through this link. Company insiders own 0.82% of the company’s stock.

CDW Stock Performance

CDW stock opened at $153.79 on Friday. The company has a 50-day simple moving average of $140.96 and a 200 day simple moving average of $130.01. The company has a market capitalization of $19.23 billion, a P/E ratio of 18.48, a PEG ratio of 1.87 and a beta of 0.95. The company has a quick ratio of 1.05, a current ratio of 1.17 and a debt-to-equity ratio of 1.97. CDW Corporation has a fifty-two week low of $97.12 and a fifty-two week high of $169.20.

CDW (NASDAQ:CDW) last issued its quarterly earnings results 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 company had revenue of $6.57 billion during the quarter, compared to analyst estimates of $6.21 billion. During the same period in the prior year, the business posted $2.60 EPS. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. Sell-side analysts predict that CDW Corporation will post 10.33 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, August 25th. CDW’s dividend payout ratio (DPR) is presently 30.29%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Morgan Stanley raised their price target on CDW from $170.00 to $171.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. raised CDW from a “neutral” rating to an “overweight” rating and set a $130.00 price objective for the company in a report on Wednesday, May 27th. Barclays raised their target price on shares of CDW from $123.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Weiss Ratings raised shares of CDW from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. Finally, Citigroup raised their price objective on shares of CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.38.

CDW Company 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.