Triad Investment Management Has $4.29 Million Stock Position in CDW Corporation $CDW

Triad Investment Management lifted its position in shares of CDW Corporation (NASDAQ:CDW) by 20.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,540 shares of the information technology services provider’s stock after purchasing an additional 5,156 shares during the quarter. CDW accounts for 4.8% of Triad Investment Management’s investment portfolio, making the stock its 7th largest holding. Triad Investment Management’s holdings in CDW were worth $4,295,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CDW. California State Teachers Retirement System increased its position in shares of CDW by 13,221.2% during the second quarter. California State Teachers Retirement System now owns 29,850,699 shares of the information technology services provider’s stock worth $4,198,202,000 after acquiring an additional 29,626,614 shares in the last quarter. BlackRock Inc. bought a new stake in CDW during the 2nd quarter worth approximately $2,143,082,000. Pzena Investment Management LLC bought a new stake in CDW during the 2nd quarter worth approximately $371,135,000. Jupiter Topco LLC purchased a new stake in shares of CDW in the second quarter worth approximately $300,073,000. Finally, Alyeska Investment Group L.P. lifted its holdings in shares of CDW by 197.1% in the second quarter. Alyeska Investment Group L.P. now owns 1,854,952 shares of the information technology services provider’s stock valued at $260,880,000 after purchasing an additional 1,230,517 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Stock Down 1.5%

Shares of NASDAQ:CDW opened at $142.37 on Thursday. The company has a market capitalization of $17.80 billion, a PE ratio of 17.11, a price-to-earnings-growth ratio of 1.89 and a beta of 0.95. 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 business has a fifty day moving average price of $140.36 and a two-hundred day moving average price of $129.72. CDW Corporation has a 1 year low of $97.12 and a 1 year high of $171.55.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.11. The company had revenue of $6.57 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the business posted $2.60 EPS. Analysts forecast that CDW Corporation will post 10.33 earnings per share for the current year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th will be given a $0.63 dividend. 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%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Citigroup lifted their target price 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 objective on the stock in a research note on Wednesday, May 27th. Morgan Stanley lifted their price objective on shares of CDW from $170.00 to $171.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Royal Bank Of Canada upgraded shares of CDW to an “outperform” rating and set a $130.00 target price for the company in a research note on Wednesday, May 27th. Finally, Barclays increased their target price on shares of CDW from $123.00 to $150.00 and gave the company an “equal weight” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, CDW currently has a consensus rating of “Moderate Buy” and an average price target of $150.38.

Insiders Place Their Bets

In other CDW news, insider Elizabeth Connelly sold 26,695 shares of the business’s stock in a transaction dated 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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.82% of the stock is currently owned by insiders.

CDW Profile

CDW Corporation (NASDAQ: CDW) is a provider of technology products and services for businesses, government agencies, educational institutions and healthcare organizations. The company helps customers design, acquire, configure and manage information technology environments.

Its offerings include computers, servers, networking equipment, software, data storage, cybersecurity products, cloud solutions and collaboration tools. CDW also provides professional, managed and lifecycle services, including solution design, implementation, security support, cloud management and IT asset management.

Founded in 1984, CDW serves customers primarily in the United States, Canada and the United Kingdom through a combination of sales specialists, technology partners and digital commerce platforms.