Tidal Investments LLC Acquires 21,019 Shares of CDW Corporation $CDW

Tidal Investments LLC lifted its holdings in CDW Corporation (NASDAQ:CDW) by 82.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 46,504 shares of the information technology services provider’s stock after purchasing an additional 21,019 shares during the period. Tidal Investments LLC’s holdings in CDW were worth $6,540,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Allied Private Wealth LLC bought a new position in CDW in the second quarter worth approximately $28,000. Keating Financial Advisory Services Inc. purchased a new stake in CDW during the second quarter worth $28,000. Community Bank N.A. bought a new stake in CDW during the 2nd quarter valued at $31,000. Hollencrest Capital Management boosted its position in CDW by 909.1% during the 1st quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 200 shares in the last quarter. Finally, Root Financial Partners LLC increased its holdings in shares of CDW by 54.7% in the 1st quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 93 shares during the period. 93.15% of the stock is currently owned by institutional investors.

CDW Stock Up 7.8%

Shares of CDW stock opened at $153.79 on Friday. The stock’s fifty day moving average price is $140.96 and its 200 day moving average price is $130.01. CDW Corporation has a 1-year low of $97.12 and a 1-year high of $169.20. The company has a market cap of $19.23 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 2.01 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.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.11. The company had revenue of $6.57 billion during 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 firm’s revenue was up 10.0% compared to the same quarter last year. During the same period last year, the business posted $2.60 earnings per share. On average, research analysts expect that CDW Corporation will post 10.33 earnings per share for the current fiscal year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th were issued a dividend of $0.63 per share. The ex-dividend date was Tuesday, August 25th. This represents a $2.52 annualized dividend and a dividend yield of 1.6%. CDW’s dividend payout ratio is 30.29%.

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 value of $3,673,765.90. Following the completion of the transaction, the insider directly 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. 0.82% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on CDW. JPMorgan Chase & Co. raised CDW from a “neutral” rating to an “overweight” rating and set a $130.00 price target for the company in a research report on Wednesday, May 27th. Weiss Ratings raised CDW from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. Morgan Stanley lifted their target price on CDW from $170.00 to $171.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Citigroup boosted their target price on shares of CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Finally, Royal Bank Of Canada raised shares of CDW to an “outperform” rating and set a $130.00 price target for the company in a research report on Wednesday, May 27th. 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 company’s stock. According to data from MarketBeat.com, CDW has an average rating of “Moderate Buy” and a consensus price target of $150.38.

CDW Company 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.