RiverPark Advisors LLC Acquires 1,455 Shares of CDW Corporation $CDW

RiverPark Advisors LLC boosted its stake in shares of CDW Corporation (NASDAQ:CDW) by 27.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,729 shares of the information technology services provider’s stock after buying an additional 1,455 shares during the period. RiverPark Advisors LLC’s holdings in CDW were worth $1,202,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Bayforest Capital Ltd purchased a new stake in shares of CDW in the first quarter worth $31,000. Pandora Wealth Inc. bought a new stake in CDW during the 1st quarter valued at about $32,000. Stone House Investment Management LLC bought a new stake in CDW during the 1st quarter valued at about $34,000. Capital Analysts LLC purchased a new position in CDW in the first quarter worth about $46,000. Finally, Covestor Ltd lifted its stake in shares of CDW by 134.1% in the first quarter. Covestor Ltd now owns 384 shares of the information technology services provider’s stock worth $62,000 after buying an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on CDW shares. Barclays lowered their price objective on CDW from $176.00 to $148.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. Raymond James Financial raised CDW from an “outperform” rating to a “strong-buy” rating and set a $185.00 price target on the stock in a report on Tuesday. UBS Group decreased their target price on CDW from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Evercore ISI dropped their target price on shares of CDW from $215.00 to $200.00 and set an “outperform” rating on the stock in a report on Monday, October 20th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of CDW in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $189.86.

CDW Price Performance

Shares of CDW stock opened at $143.23 on Wednesday. The stock has a market cap of $18.65 billion, a P/E ratio of 18.08, a P/E/G ratio of 1.98 and a beta of 1.03. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.30 and a current ratio of 1.39. The stock’s fifty day moving average is $152.50 and its 200 day moving average is $166.82. CDW Corporation has a one year low of $135.63 and a one year high of $222.92.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Tuesday, November 4th. The information technology services provider reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.09. CDW had a return on equity of 51.89% and a net margin of 4.76%.The business had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.75 billion. Sell-side analysts anticipate that CDW Corporation will post 9.41 earnings per share for the current year.

CDW Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 25th will be issued a dividend of $0.63 per share. This is an increase from CDW’s previous quarterly dividend of $0.63. This represents a $2.52 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, November 25th. CDW’s payout ratio is presently 31.57%.

CDW Profile

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.