Triad Investment Management Raises Stock Holdings in CDW Corporation $CDW

Triad Investment Management increased its position in shares of CDW Corporation (NASDAQ:CDW) by 20.3% in the 2nd quarter, according to its most recent Form 13F filing 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 approximately 4.8% of Triad Investment Management’s investment portfolio, making the stock its 7th largest position. Triad Investment Management’s holdings in CDW were worth $4,295,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CDW. Cidel Asset Management Inc. acquired a new stake in shares of CDW during the 2nd quarter worth approximately $223,000. Community Bank N.A. bought a new position in CDW in the second quarter valued at approximately $31,000. Baird Financial Group Inc. raised its position in CDW by 69.7% during the second quarter. Baird Financial Group Inc. now owns 140,927 shares of the information technology services provider’s stock valued at $19,820,000 after purchasing an additional 57,862 shares in the last quarter. Arizona State Retirement System raised its position in CDW by 3.7% during the second quarter. Arizona State Retirement System now owns 36,692 shares of the information technology services provider’s stock valued at $5,160,000 after purchasing an additional 1,315 shares in the last quarter. Finally, Empirical Finance LLC lifted its stake in CDW by 3.5% during the second quarter. Empirical Finance LLC now owns 4,562 shares of the information technology services provider’s stock worth $642,000 after purchasing an additional 153 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Price Performance

CDW stock opened at $142.37 on Thursday. The stock’s 50 day moving average is $140.36 and its 200 day moving average is $129.72. CDW Corporation has a one year low of $97.12 and a one year high of $171.55. The firm has a market cap of $17.80 billion, a P/E ratio of 17.11, a P/E/G 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.

CDW (NASDAQ:CDW) last issued 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 business 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 business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.60 earnings per share. As a group, research analysts expect that CDW Corporation will post 10.33 EPS for the current year.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Tuesday, August 25th. CDW’s dividend payout ratio (DPR) is presently 30.29%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CDW shares. JPMorgan Chase & Co. upgraded CDW from a “neutral” rating to an “overweight” rating and set a $130.00 price target on the stock in a research note on Wednesday, May 27th. Barclays raised their price objective on CDW from $123.00 to $150.00 and gave the company an “equal weight” rating in a research note on Tuesday. Weiss Ratings upgraded CDW from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. Citigroup boosted their target price on CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Finally, Royal Bank Of Canada raised shares of CDW to an “outperform” rating and set a $130.00 price target on the stock in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, CDW currently has an average rating of “Moderate Buy” and an average target price of $150.38.

Insiders Place Their Bets

In other CDW news, insider Elizabeth Connelly sold 26,695 shares of CDW stock in a transaction 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 sale, the insider directly owned 34,215 shares of the company’s stock, valued at approximately $4,708,668.30. The trade was a 43.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.82% of the company’s stock.

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.