Foster & Motley Inc. Takes $1.73 Million Position in CDW Corporation $CDW

Foster & Motley Inc. bought a new position in shares of CDW Corporation (NASDAQ:CDW) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 12,276 shares of the information technology services provider’s stock, valued at approximately $1,727,000.

Other hedge funds have also added to or reduced their stakes in the company. Root Financial Partners LLC grew its holdings in CDW by 54.7% in the 1st 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 in the last quarter. New Mexico Educational Retirement Board increased its position in CDW by 1.7% during the 4th quarter. New Mexico Educational Retirement Board now owns 6,050 shares of the information technology services provider’s stock worth $824,000 after buying an additional 100 shares during the period. Hollencrest Capital Management lifted 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 worth $27,000 after buying an additional 200 shares in the last quarter. Allied Private Wealth LLC acquired a new stake in shares of CDW during the second quarter worth $28,000. Finally, Empowered Funds LLC boosted its position in shares of CDW by 1.2% in the first quarter. Empowered Funds LLC now owns 18,076 shares of the information technology services provider’s stock valued at $2,897,000 after acquiring an additional 216 shares during the period. 93.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CDW has been the topic of several research reports. Weiss Ratings upgraded shares of CDW from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. Morgan Stanley lifted their price objective on shares of CDW from $170.00 to $171.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Raymond James Financial set a $150.00 price objective on shares of CDW in a report on Wednesday, May 6th. Barclays lowered their target price on shares of CDW from $144.00 to $123.00 and set an “equal weight” rating on the stock in a report on Thursday, May 7th. Finally, Royal Bank Of Canada upgraded shares of CDW to an “outperform” rating and set a $130.00 price target for the company in a research report on Wednesday, May 27th. One research 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 company’s stock. According to data from MarketBeat.com, CDW presently has an average rating of “Moderate Buy” and a consensus price target of $147.00.

CDW Trading Up 1.7%

Shares of CDW stock opened at $137.20 on Thursday. 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 12-month low of $97.12 and a 12-month high of $171.55. The company has a market capitalization of $17.15 billion, a price-to-earnings ratio of 16.49, a PEG ratio of 1.78 and a beta of 0.96. The firm’s 50-day moving average price is $136.18 and its two-hundred day moving average price is $128.28.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $6.21 billion. During the same period in the previous year, the company earned $2.60 EPS. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, analysts forecast that CDW Corporation will post 10.28 earnings per share for the current fiscal year.

CDW Announces Dividend

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 given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.8%. The ex-dividend date is Tuesday, August 25th. CDW’s payout ratio is currently 30.29%.

Insider Activity at CDW

In other CDW news, insider Elizabeth H. Connelly sold 26,695 shares of the company’s 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 completion of the sale, the insider directly owned 34,215 shares in the company, valued at $4,708,668.30. This represents a 43.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David W. Nelms bought 18,000 shares of CDW stock in a transaction on Wednesday, May 27th. The stock was acquired at an average cost of $111.43 per share, for a total transaction of $2,005,740.00. Following the acquisition, the director owned 51,025 shares in the company, valued at approximately $5,685,715.75. This represents a 54.50% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.82% of the stock is owned by insiders.

About CDW

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.