Kendall Capital Management Buys Shares of 25,485 CDW Corporation $CDW

Kendall Capital Management purchased a new position in CDW Corporation (NASDAQ:CDW) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 25,485 shares of the information technology services provider’s stock, valued at approximately $3,584,000.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of CDW in the 2nd quarter valued at approximately $2,143,082,000. Pzena Investment Management LLC bought a new stake in CDW during the second quarter worth approximately $371,135,000. Deutsche Bank AG bought a new stake in CDW during the second quarter worth approximately $112,488,000. Pacer Advisors Inc. grew its holdings in CDW by 5,081.1% during the first quarter. Pacer Advisors Inc. now owns 549,247 shares of the information technology services provider’s stock valued at $66,470,000 after purchasing an additional 538,646 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in CDW by 255.7% during the third quarter. Marshall Wace LLP now owns 599,248 shares of the information technology services provider’s stock valued at $95,448,000 after purchasing an additional 430,796 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

Insider Transactions at CDW

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CDW shares. Citigroup boosted their price objective on shares of CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Raymond James Financial set a $150.00 target price on shares of CDW in a research note on Wednesday, May 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 report on Thursday, May 7th. Morgan Stanley boosted their target price on shares of CDW from $170.00 to $171.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, JPMorgan Chase & Co. raised shares of CDW from a “neutral” rating to an “overweight” rating and set a $130.00 target price for the company in a research report on Wednesday, May 27th. One investment 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 company. According to MarketBeat.com, CDW has an average rating of “Moderate Buy” and a consensus target price of $147.00.

CDW Stock Up 2.8%

CDW opened at $137.25 on Friday. The company has a market capitalization of $17.16 billion, a P/E ratio of 16.50, a P/E/G ratio of 1.81 and a beta of 0.96. 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’s fifty day moving average price is $136.37 and its two-hundred day moving average price is $128.40. CDW Corporation has a fifty-two week low of $97.12 and a fifty-two week high of $171.55.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.11. CDW had a net margin of 4.60% and a return on equity of 50.61%. The company had revenue of $6.57 billion during the quarter, compared to analysts’ expectations of $6.21 billion. During the same quarter in the prior year, the company posted $2.60 EPS. The business’s revenue was up 10.0% on a year-over-year basis. On average, analysts anticipate that CDW Corporation will post 10.28 EPS for the current year.

CDW Dividend Announcement

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 given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, August 25th. CDW’s dividend payout ratio 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.