Root Financial Partners LLC Makes New $599,000 Investment in CDW Corporation $CDW

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

A number of other hedge funds and other institutional investors have also modified their holdings of CDW. E. Ohman J or Asset Management AB raised its holdings in CDW by 600.0% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 38,243 shares of the information technology services provider’s stock worth $4,901,000 after buying an additional 32,780 shares during the period. SBI Securities Co. Ltd. lifted its stake in CDW by 59,232.3% during the third quarter. SBI Securities Co. Ltd. now owns 38,566 shares of the information technology services provider’s stock valued at $4,943,000 after buying an additional 38,501 shares in the last quarter. Reyes Financial Architecture Inc. acquired a new position in shares of CDW in the third quarter worth about $83,000. Pinnacle Bancorp Inc. boosted its holdings in shares of CDW by 196.6% in the third quarter. Pinnacle Bancorp Inc. now owns 786 shares of the information technology services provider’s stock worth $101,000 after buying an additional 521 shares during the period. Finally, Vest Financial LLC boosted its holdings in shares of CDW by 6,126.6% in the third quarter. Vest Financial LLC now owns 1,209,324 shares of the information technology services provider’s stock worth $154,987,000 after buying an additional 1,189,902 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

Insider Buying and Selling at CDW

In other 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 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 can be accessed through this link. 0.82% of the stock is owned by corporate insiders.

CDW Stock Up 0.3%

NASDAQ:CDW opened at $165.11 on Friday. The firm has a market capitalization of $20.64 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 2.16 and a beta of 0.95. CDW Corporation has a 1-year low of $97.12 and a 1-year high of $166.15. 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 business’s fifty day moving average price is $144.83 and its 200 day moving average price is $135.12.

CDW (NASDAQ:CDW) last announced its quarterly earnings data 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. CDW had a return on equity of 50.61% and a net margin of 4.60%. The firm had revenue of $6.57 billion during the quarter, compared to analyst estimates of $6.21 billion. During the same period last year, the company posted $2.60 EPS. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, sell-side analysts forecast that CDW Corporation will post 10.33 earnings per share for the current fiscal year.

CDW Dividend Announcement

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

Analyst Ratings Changes

Several research firms have recently weighed in on CDW. Weiss Ratings raised shares of CDW from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. Citigroup upped their price target 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. Barclays decreased their price objective on shares of CDW from $150.00 to $148.00 and set an “equal weight” rating for the company in a research note on Monday, September 21st. Finally, 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 research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $150.12.

About CDW

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.