Kendall Capital Management Increases Stake in CDW (NASDAQ:CDW)

Kendall Capital Management raised its holdings in shares of CDW (NASDAQ:CDW) by 14.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,015 shares of the information technology services provider’s stock after purchasing an additional 2,383 shares during the quarter. CDW accounts for about 2.1% of Kendall Capital Management’s portfolio, making the stock its 8th largest position. Kendall Capital Management’s holdings in CDW were worth $2,209,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Ellevest Inc. increased its position in shares of CDW by 77.0% during the 1st quarter. Ellevest Inc. now owns 430 shares of the information technology services provider’s stock valued at $40,000 after purchasing an additional 187 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of CDW by 103.7% in the fourth quarter. Quadrant Capital Group LLC now owns 658 shares of the information technology services provider’s stock valued at $87,000 after acquiring an additional 335 shares during the period. Golden State Wealth Management LLC purchased a new position in shares of CDW during the 1st quarter worth about $65,000. CSat Investment Advisory L.P. grew its holdings in CDW by 43.8% during the 1st quarter. CSat Investment Advisory L.P. now owns 755 shares of the information technology services provider’s stock valued at $71,000 after purchasing an additional 230 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in CDW in the 4th quarter worth about $111,000. 90.22% of the stock is owned by institutional investors and hedge funds.

Several research analysts recently issued reports on CDW shares. Morgan Stanley raised CDW from an “underweight” rating to an “equal weight” rating and set a $120.00 price objective on the stock in a research note on Tuesday, June 9th. Cfra dropped their target price on shares of CDW from $139.00 to $120.00 and set a “hold” rating on the stock in a report on Thursday, May 7th. JPMorgan Chase & Co. lowered shares of CDW from a “neutral” rating to an “underweight” rating and set a $115.00 price target for the company. in a report on Tuesday, June 9th. They noted that the move was a valuation call. Raymond James upgraded shares of CDW from a “market perform” rating to an “outperform” rating and set a $140.00 price objective on the stock in a research note on Monday, June 29th. Finally, BidaskClub lowered CDW from a “hold” rating to a “sell” rating in a report on Friday, July 10th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $125.88.

In related news, insider Douglas E. Eckrote sold 5,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $106.97, for a total transaction of $534,850.00. Following the sale, the insider now directly owns 141,533 shares of the company’s stock, valued at $15,139,785.01. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Matthew A. Troka sold 7,001 shares of CDW stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $100.99, for a total value of $707,030.99. Following the transaction, the insider now owns 67,492 shares of the company’s stock, valued at $6,816,017.08. The disclosure for this sale can be found here. 1.33% of the stock is owned by corporate insiders.

Shares of CDW stock traded up $0.56 during mid-day trading on Friday, reaching $116.25. The stock had a trading volume of 769,317 shares, compared to its average volume of 631,099. CDW has a 1-year low of $73.39 and a 1-year high of $146.09. The firm has a market cap of $16.54 billion, a price-to-earnings ratio of 22.66, a PEG ratio of 1.70 and a beta of 1.19. The company has a current ratio of 1.28, a quick ratio of 1.10 and a debt-to-equity ratio of 4.01. The business’s fifty day moving average is $115.38 and its 200-day moving average is $114.48.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, May 6th. The information technology services provider reported $1.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.04. CDW had a net margin of 4.07% and a return on equity of 97.93%. The company had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.38 billion. During the same quarter in the prior year, the company earned $1.24 EPS. CDW’s quarterly revenue was up 10.9% on a year-over-year basis. On average, analysts forecast that CDW will post 5.21 earnings per share for the current year.

CDW Profile

CDW Corporation provides integrated information technology (IT) solutions to business, government, education, and healthcare customers in the United States, Canada, and the United Kingdom. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products, as well as integrated IT solutions, including mobility, security, data center optimization, cloud computing, virtualization, and collaboration.

Featured Article: What is a conference call?

Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

Receive News & Ratings for CDW Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CDW and related companies with MarketBeat.com's FREE daily email newsletter.