Freestone Grove Partners LP Takes Position in CDW Corporation $CDW

Freestone Grove Partners LP bought a new stake in shares of CDW Corporation (NASDAQ:CDW) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 818,292 shares of the information technology services provider’s stock, valued at approximately $115,085,000. CDW comprises about 0.7% of Freestone Grove Partners LP’s holdings, making the stock its 19th largest position. Freestone Grove Partners LP owned about 0.65% of CDW at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Root Financial Partners LLC raised its position 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 during the last quarter. New Mexico Educational Retirement Board boosted its holdings 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 acquiring an additional 100 shares during the last quarter. Hollencrest Capital Management boosted its holdings in CDW by 909.1% during the 1st quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 200 shares during the last quarter. Allied Private Wealth LLC bought a new stake in shares of CDW in the 2nd quarter worth $28,000. Finally, Keating Financial Advisory Services Inc. bought a new stake in shares of CDW in the 2nd quarter worth $28,000. Institutional investors own 93.15% of the company’s stock.

Analyst Ratings Changes

CDW has been the topic of a number of recent analyst reports. Citigroup raised their price target on shares of CDW from $123.00 to $145.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Barclays reduced their price objective on shares of CDW from $144.00 to $123.00 and set an “equal weight” rating for the company in a research report on Thursday, May 7th. Morgan Stanley increased their price objective on shares of CDW from $170.00 to $171.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. UBS Group dropped their target price on shares of CDW from $162.00 to $147.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada raised shares of CDW to an “outperform” rating and set a $130.00 target price on the stock in a research report on Wednesday, May 27th. One equities 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $147.00.

Insider Buying and Selling

In related news, insider Elizabeth H. Connelly sold 26,695 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $137.62, for a total transaction of $3,673,765.90. Following the sale, the insider owned 34,215 shares of the company’s stock, valued at approximately $4,708,668.30. This represents a 43.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.82% of the company’s stock.

CDW Stock Performance

NASDAQ CDW opened at $141.46 on Thursday. The company has a market capitalization of $17.69 billion, a PE ratio of 17.00, a price-to-earnings-growth ratio of 1.87 and a beta of 0.96. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.05 and a current ratio of 1.17. CDW Corporation has a 52-week low of $97.12 and a 52-week high of $171.55. The company has a 50-day simple moving average of $136.93 and a 200 day simple moving average of $128.49.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.11. The business 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 for the quarter was up 10.0% on a year-over-year basis. During the same period last year, the business posted $2.60 earnings per share. On average, research analysts predict that CDW Corporation will post 10.28 EPS for the current year.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Tuesday, August 25th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $2.52 annualized dividend and a yield of 1.8%. CDW’s payout ratio is currently 30.29%.

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.