2,133,623 Shares in CDW Corporation $CDW Bought by Jupiter Topco LLC

Jupiter Topco LLC acquired a new stake in CDW Corporation (NASDAQ:CDW) in the second quarter, Holdings Channel reports. The institutional investor acquired 2,133,623 shares of the information technology services provider’s stock, valued at approximately $300,073,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of CDW in the 2nd quarter valued at about $2,143,082,000. Pzena Investment Management LLC acquired a new position in CDW during the second quarter valued at approximately $371,135,000. Fenimore Asset Management Inc increased its stake in CDW by 0.8% in the fourth quarter. Fenimore Asset Management Inc now owns 1,150,567 shares of the information technology services provider’s stock valued at $156,707,000 after purchasing an additional 9,485 shares in the last quarter. Deutsche Bank AG acquired a new stake in CDW in the second quarter worth $112,488,000. Finally, Hsbc Holdings PLC acquired a new position in shares of CDW in the 2nd quarter valued at $110,406,000. Institutional investors own 93.15% of the company’s stock.

Insiders Place Their Bets

In other CDW news, insider Elizabeth H. Connelly sold 26,695 shares of CDW stock in a transaction on Friday, August 7th. The shares were sold at an average price of $137.62, for a total value of $3,673,765.90. Following the sale, the insider directly owned 34,215 shares in the company, valued at approximately $4,708,668.30. The trade was a 43.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on CDW shares. Weiss Ratings raised CDW from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. Barclays dropped their price target on CDW from $144.00 to $123.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 7th. JPMorgan Chase & Co. upgraded CDW from a “neutral” rating to an “overweight” rating and set a $130.00 price objective on the stock in a report on Wednesday, May 27th. 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. Finally, Citigroup raised their target price on shares of CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a 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 given a Hold rating to the stock. According to MarketBeat.com, CDW presently has an average rating of “Moderate Buy” and an average price target of $147.00.

CDW Stock Performance

Shares of CDW stock opened at $142.09 on Wednesday. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.17 and a quick ratio of 1.05. The firm has a market cap of $17.76 billion, a price-to-earnings ratio of 17.08, a price-to-earnings-growth ratio of 1.74 and a beta of 0.96. The stock’s 50-day moving average is $136.63 and its 200-day moving average is $128.48. CDW Corporation has a one year low of $97.12 and a one year high of $171.55.

CDW (NASDAQ:CDW) last released 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. The firm had revenue of $6.57 billion during the quarter, compared to the consensus estimate of $6.21 billion. CDW had a return on equity of 50.61% and a net margin of 4.60%.The business’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.60 EPS. Equities analysts predict that CDW Corporation will post 10.28 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Tuesday, August 25th will be given a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $2.52 dividend on an annualized basis and a yield of 1.8%. CDW’s dividend payout ratio (DPR) is 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.