43,494 Shares in CDW Corporation $CDW Purchased by Corient Private Wealth LP

Corient Private Wealth LP bought a new position in CDW Corporation (NASDAQ:CDW) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 43,494 shares of the information technology services provider’s stock, valued at approximately $6,117,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of CDW during the second quarter valued at about $2,143,082,000. Pzena Investment Management LLC purchased a new stake in shares of CDW in the second quarter worth about $371,135,000. Jupiter Topco LLC bought a new position in shares of CDW in the second quarter valued at approximately $300,073,000. Bank of America Corp DE bought a new position in shares of CDW in the second quarter valued at approximately $255,058,000. Finally, Freestone Grove Partners LP purchased a new position in CDW during the second quarter valued at approximately $115,085,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Insider Buying and Selling

In other news, insider Elizabeth H. Connelly sold 26,695 shares of the 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 transaction, the insider owned 34,215 shares of the company’s stock, valued at $4,708,668.30. This represents a 43.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.82% of the stock is currently owned by corporate insiders.

CDW Stock Performance

Shares of CDW opened at $151.58 on Tuesday. CDW Corporation has a 12-month low of $97.12 and a 12-month high of $171.55. The company has a current ratio of 1.17, a quick ratio of 1.05 and a debt-to-equity ratio of 1.97. The company has a market cap of $18.95 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 1.94 and a beta of 0.96. The stock has a 50-day moving average price of $138.29 and a 200-day moving average price of $128.62.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.11. The company had revenue of $6.57 billion for the quarter, compared to analysts’ expectations of $6.21 billion. CDW had a net margin of 4.60% and a return on equity of 50.61%. CDW’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.60 earnings per share. As a group, equities analysts forecast that CDW Corporation will post 10.33 earnings per share for the current fiscal year.

CDW Dividend Announcement

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 paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, August 25th. CDW’s payout ratio is currently 30.29%.

Analysts Set New Price Targets

A number of research firms recently weighed in on CDW. Weiss Ratings raised shares of CDW from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. Citigroup raised their price target on shares of CDW from $123.00 to $145.00 and gave the company a “neutral” rating in a report on Monday, July 13th. UBS Group reduced their price target on shares of CDW from $162.00 to $147.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Barclays decreased their price target 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, Morgan Stanley increased their price objective on CDW from $170.00 to $171.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. One 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $147.00.

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.