Wishbone Management LP Takes Position in CDW Corporation $CDW

Wishbone Management LP acquired a new stake in shares of CDW Corporation (NASDAQ:CDW) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 200,000 shares of the information technology services provider’s stock, valued at approximately $28,128,000. CDW comprises 0.0% of Wishbone Management LP’s holdings, making the stock its 4th largest position. Wishbone Management LP owned approximately 0.16% of CDW as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of CDW during the 2nd quarter worth approximately $2,143,082,000. Pzena Investment Management LLC purchased a new stake in CDW during the 2nd quarter valued at $371,135,000. Fenimore Asset Management Inc raised its stake in CDW by 0.8% during the fourth quarter. Fenimore Asset Management Inc now owns 1,150,567 shares of the information technology services provider’s stock valued at $156,707,000 after buying an additional 9,485 shares during the last quarter. Deutsche Bank AG purchased a new position in CDW in the 2nd quarter worth approximately $112,488,000. Finally, Marshall Wace LLP grew its holdings in shares of CDW by 255.7% in the third quarter. Marshall Wace LLP now owns 599,248 shares of the information technology services provider’s stock worth $95,448,000 after purchasing an additional 430,796 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CDW shares. Morgan Stanley boosted their target price on shares of CDW from $170.00 to $171.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Weiss Ratings upgraded shares of CDW from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. Citigroup raised their target price on shares of CDW from $123.00 to $145.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. JPMorgan Chase & Co. raised shares of CDW from a “neutral” rating to an “overweight” 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 report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, CDW has an average rating of “Moderate Buy” and a consensus target price of $147.00.

CDW Trading Down 0.9%

Shares of NASDAQ CDW traded down $1.33 during trading hours on Friday, reaching $147.64. The stock had a trading volume of 960,467 shares, compared to its average volume of 1,890,210. CDW Corporation has a 52-week low of $97.12 and a 52-week high of $171.55. 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 firm has a market cap of $18.46 billion, a price-to-earnings ratio of 17.75, a P/E/G ratio of 1.86 and a beta of 0.96. The business’s fifty day moving average price is $137.34 and its two-hundred day moving average price is $128.53.

CDW (NASDAQ:CDW) last posted 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. CDW had a net margin of 4.60% and a return on equity of 50.61%. The company had revenue of $6.57 billion for the quarter, compared to analysts’ expectations of $6.21 billion. During the same quarter in the prior year, the company posted $2.60 earnings per share. CDW’s revenue for the quarter was up 10.0% compared to the same quarter last year. Analysts expect that CDW Corporation will post 10.28 EPS for the current fiscal year.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.7%. The ex-dividend date is Tuesday, August 25th. CDW’s dividend payout ratio (DPR) is 30.29%.

Insider Transactions at CDW

In related news, insider Elizabeth H. Connelly sold 26,695 shares of the business’s 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 owned 34,215 shares in the company, valued at $4,708,668.30. The trade was a 43.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.82% of the stock is owned by company insiders.

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.