Callan Family Office LLC Invests $659,000 in CDW Corporation $CDW

Callan Family Office LLC acquired a new position in CDW Corporation (NASDAQ:CDW) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,689 shares of the information technology services provider’s stock, valued at approximately $659,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Allied Private Wealth LLC purchased a new stake in shares of CDW during the 2nd quarter valued at $28,000. Keating Financial Advisory Services Inc. purchased a new position in CDW in the second quarter worth $28,000. Hollencrest Capital Management grew its position in CDW by 909.1% in the first quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 200 shares in the last quarter. Root Financial Partners LLC increased its stake in CDW by 54.7% in the first 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 last quarter. Finally, Johnson Financial Group Inc. bought a new position in CDW in the second quarter valued at $51,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Stock Performance

NASDAQ CDW opened at $142.09 on Wednesday. The company has a 50-day simple moving average of $136.63 and a two-hundred day simple moving average of $128.48. CDW Corporation has a 12-month low of $97.12 and a 12-month high of $171.55. The firm has a market cap of $17.76 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 1.74 and a beta of 0.96. The company has a quick ratio of 1.05, a current ratio of 1.17 and a debt-to-equity ratio of 1.97.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, August 5th. The information technology services provider reported $2.91 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter in the previous year, the business earned $2.60 earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. On average, equities analysts forecast that CDW Corporation will post 10.28 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 paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, August 25th. CDW’s payout ratio is 30.29%.

Insider Buying and Selling

In other CDW news, insider Elizabeth H. Connelly sold 26,695 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was 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 owned 34,215 shares in the company, valued at approximately $4,708,668.30. The trade was a 43.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.82% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Morgan Stanley lifted their price target on CDW from $170.00 to $171.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. UBS Group reduced their price objective on CDW from $162.00 to $147.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Weiss Ratings raised CDW from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. Raymond James Financial set a $150.00 target price on CDW in a research report on Wednesday, May 6th. Finally, Barclays cut their target price on CDW from $144.00 to $123.00 and set an “equal weight” rating for the company in a research note on Thursday, May 7th. One investment 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

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.