8,971 Shares in CDW Corporation $CDW Bought by Man Group plc

Man Group plc purchased a new stake in shares of CDW Corporation (NASDAQ:CDW) in the second quarter, Holdings Channel reports. The firm purchased 8,971 shares of the information technology services provider’s stock, valued at approximately $1,262,000.

Other institutional investors have also added to or reduced their stakes in the company. 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 acquiring an additional 200 shares during the last quarter. Allied Private Wealth LLC bought a new stake in shares of CDW in the second quarter worth about $28,000. Keating Financial Advisory Services Inc. bought a new stake in shares of CDW in the second quarter worth about $28,000. Root Financial Partners LLC increased its holdings in CDW by 54.7% during the 1st quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 93 shares during the period. Finally, Johnson Financial Group Inc. purchased a new position in CDW during the 2nd quarter valued at about $51,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Insider Buying and Selling

In related news, insider Elizabeth H. 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 transaction of $3,673,765.90. Following the sale, the insider owned 34,215 shares of the company’s stock, 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 SEC, which is available at this link. 0.82% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CDW has been the subject of a number of recent analyst reports. Morgan Stanley upped their price target on CDW from $170.00 to $171.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Citigroup lifted their price objective on CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Weiss Ratings raised CDW from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. Royal Bank Of Canada upgraded CDW to an “outperform” rating and set a $130.00 target price for the company in a report on Wednesday, May 27th. Finally, Raymond James Financial set a $150.00 price target on CDW in a research note on Wednesday, May 6th. One investment 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

CDW Price Performance

CDW opened at $148.67 on Thursday. The company has a current ratio of 1.17, a quick ratio of 1.05 and a debt-to-equity ratio of 1.97. The company has a market cap of $18.59 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 1.97 and a beta of 0.95. The stock has a fifty day simple moving average of $139.06 and a two-hundred day simple moving average of $128.88. CDW Corporation has a 12-month low of $97.12 and a 12-month high of $171.55.

CDW (NASDAQ:CDW) last announced its 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 firm had revenue of $6.57 billion for the quarter, compared to analysts’ expectations of $6.21 billion. CDW had a net margin of 4.60% and a return on equity of 50.61%. The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.60 EPS. Research analysts predict that CDW Corporation will post 10.33 earnings per share for the current fiscal 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 dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, August 25th. CDW’s dividend payout ratio (DPR) 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.