Root Financial Partners LLC Buys 4,670 Shares of CDW Corporation $CDW

Root Financial Partners LLC bought a new stake in shares of CDW Corporation (NASDAQ:CDW) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 4,670 shares of the information technology services provider’s stock, valued at approximately $599,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Union Savings Bank grew its stake in shares of CDW by 500.0% in the third quarter. Union Savings Bank now owns 192 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 160 shares in the last quarter. Allied Private Wealth LLC acquired a new position in shares of CDW during the second quarter valued at $28,000. Keating Financial Advisory Services Inc. bought a new stake in shares of CDW during the second quarter valued at about $28,000. Community Bank N.A. bought a new stake in shares of CDW during the second quarter valued at about $31,000. Finally, Hollencrest Capital Management raised its stake in shares of CDW by 909.1% during the first quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

Wall Street Analysts Forecast Growth

CDW has been the subject of a number of recent analyst reports. Citigroup increased their target price 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. Morgan Stanley raised their target price 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. Barclays dropped their price target on shares of CDW from $150.00 to $148.00 and set an “equal weight” rating on the stock in a research report on Monday, September 21st. Finally, Weiss Ratings raised shares of CDW from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $150.12.

Insider Activity at CDW

In related news, insider Elizabeth Connelly sold 26,695 shares of the 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 completion of the sale, the insider directly owned 34,215 shares of the company’s stock, valued at $4,708,668.30. This represents a 43.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.82% of the stock is owned by insiders.

CDW Trading Up 0.3%

Shares of CDW stock opened at $165.11 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.17 and a debt-to-equity ratio of 1.97. The firm has a market cap of $20.64 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 2.16 and a beta of 0.95. The business has a fifty day simple moving average of $144.83 and a 200-day simple moving average of $135.12. CDW Corporation has a fifty-two week low of $97.12 and a fifty-two week high of $166.15.

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. 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 period in the previous year, the company earned $2.60 earnings per share. CDW’s revenue was up 10.0% compared to the same quarter last year. On average, equities analysts forecast that CDW Corporation will post 10.33 EPS for the current fiscal year.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Tuesday, August 25th were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Tuesday, August 25th. CDW’s payout ratio is presently 30.29%.

CDW Company Profile

CDW Corporation (NASDAQ: CDW) is a provider of technology products and services for business, government, education and healthcare organizations. The company helps customers plan, procure, implement and manage information technology solutions from leading hardware, software and cloud vendors.

Its offerings include computers, servers, networking equipment, data-storage systems, cybersecurity products, collaboration tools, software licensing and cloud solutions. CDW also provides professional and managed services, including technology consulting, infrastructure deployment, cloud management, security support and lifecycle services.

Founded in 1984 as Computer Discount Warehouse, CDW serves customers primarily in the United States, Canada and the United Kingdom through sales teams, digital channels and technology partnerships.