CDW Corporation $CDW is Crescent Grove Advisors LLC’s 10th Largest Position

Crescent Grove Advisors LLC boosted its holdings in shares of CDW Corporation (NASDAQ:CDW) by 7.0% in the first quarter, HoldingsChannel.com reports. The fund owned 171,968 shares of the information technology services provider’s stock after buying an additional 11,258 shares during the quarter. CDW comprises about 2.0% of Crescent Grove Advisors LLC’s investment portfolio, making the stock its 10th biggest holding. Crescent Grove Advisors LLC’s holdings in CDW were worth $20,812,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of CDW. Root Financial Partners LLC grew its position in shares of CDW by 54.7% in the first quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 93 shares during the last quarter. eCIO Inc. acquired a new position in shares of CDW during the 4th quarter worth approximately $61,000. Covestor Ltd lifted its stake in CDW by 53.4% in the 4th quarter. Covestor Ltd now owns 741 shares of the information technology services provider’s stock valued at $101,000 after buying an additional 258 shares in the last quarter. American National Bank & Trust purchased a new stake in CDW in the 4th quarter valued at approximately $110,000. Finally, Brown Brothers Harriman & Co. grew its holdings in CDW by 38.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 912 shares of the information technology services provider’s stock valued at $124,000 after buying an additional 254 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CDW. Morgan Stanley raised CDW from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $142.00 to $170.00 in a research report on Tuesday, June 23rd. UBS Group reduced their price objective on CDW from $162.00 to $147.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Barclays decreased their price objective on CDW from $144.00 to $123.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 7th. Royal Bank Of Canada upgraded CDW to an “outperform” rating and set a $130.00 price objective for the company in a research report on Wednesday, May 27th. Finally, Raymond James Financial set a $150.00 target price on shares of CDW in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $146.88.

Insider Activity

In related news, Director David W. Nelms bought 18,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was purchased at an average cost of $111.43 per share, for a total transaction of $2,005,740.00. Following the completion of the acquisition, the director owned 51,025 shares in the company, valued at $5,685,715.75. This trade represents a 54.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.82% of the company’s stock.

CDW Stock Performance

CDW stock opened at $133.24 on Friday. The stock has a fifty day moving average price of $126.34 and a 200 day moving average price of $127.10. CDW Corporation has a 52 week low of $97.12 and a 52 week high of $183.66. The firm has a market capitalization of $17.02 billion, a P/E ratio of 16.21, a PEG ratio of 1.77 and a beta of 0.97. The company has a current ratio of 1.16, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.28. The firm had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.48 billion. CDW had a return on equity of 49.67% and a net margin of 4.70%.The firm’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period last year, the company earned $2.15 EPS. Equities research analysts anticipate that CDW Corporation will post 10.21 earnings per share for the current year.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, May 25th were given a $0.63 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $2.52 annualized dividend and a dividend yield of 1.9%. CDW’s dividend payout ratio (DPR) is currently 30.66%.

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.