Foster & Motley Inc. Purchases Shares of 12,276 CDW Corporation $CDW

by · The Cerbat Gem

Foster & Motley Inc. acquired a new position in shares of CDW Corporation (NASDAQ:CDW – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,276 shares of the information technology services provider’s stock, valued at approximately $1,727,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CDW. Alpine Woods Capital Investors LLC bought a new stake in CDW in the 2nd quarter valued at approximately $281,000. Meeder Asset Management Inc. acquired a new position in CDW during the 2nd quarter worth approximately $7,726,000. Pzena Investment Management LLC bought a new position in shares of CDW during the 2nd quarter worth approximately $371,135,000. Citizens Financial Group Inc. RI bought a new position in shares of CDW during the 2nd quarter worth approximately $219,000. Finally, BlackRock Inc. acquired a new stake in shares of CDW in the second quarter valued at approximately $2,143,082,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

Insider Buying and Selling at CDW

In other CDW news, insider Elizabeth H. Connelly sold 26,695 shares of the firm’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 owned 34,215 shares of the company’s stock, valued at $4,708,668.30. This trade represents a 43.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David W. Nelms acquired 18,000 shares of CDW stock in a transaction on Wednesday, May 27th. The shares were bought at an average cost of $111.43 per share, with a total value of $2,005,740.00. Following the completion of the transaction, the director owned 51,025 shares of the company’s stock, valued at approximately $5,685,715.75. This trade represents a 54.50% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on CDW. Royal Bank Of Canada raised shares of CDW to an “outperform” rating and set a $130.00 price objective on the stock in a research report on Wednesday, May 27th. UBS Group decreased their target price 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. Citigroup increased their price target on CDW from $123.00 to $145.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. JPMorgan Chase & Co. upgraded CDW from a “neutral” rating to an “overweight” rating and set a $130.00 price target for the company in a research note on Wednesday, May 27th. Finally, Barclays dropped 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. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $147.00.

Check Out Our Latest Research Report on CDW

CDW Trading Up 1.7%

CDW stock opened at $137.20 on Thursday. The stock has a 50-day simple moving average of $136.18 and a 200 day simple moving average of $128.28. The stock has a market capitalization of $17.15 billion, a P/E ratio of 16.49, a PEG ratio of 1.78 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.

CDW (NASDAQ:CDW – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.11. CDW had a return on equity of 50.61% and a net margin of 4.60%.The firm had revenue of $6.57 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same quarter in the prior year, the company earned $2.60 earnings per share. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. Analysts expect that CDW Corporation will post 10.28 earnings per share for the current year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors 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 1.8%. The ex-dividend date is Tuesday, August 25th. CDW’s dividend payout ratio is 30.29%.

About CDW

(Free Report)

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.

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