Technology Sector Ideas

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CDW Corporation (NASDAQ:CDW) - >>> Number of Hedge Fund Holders: 34


https://www.insidermonkey.com/blog/12-high-growth-software-stocks-that-are-profitable-1122091/


Illinois-based CDW Corporation (NASDAQ:CDW) makes application software for small businesses operating in several industries, including retail and finance. CDW Corporation (NASDAQ:CDW) has gained about 15% year to date through February 16. According to WSJ, the firm’s sales growth as of 2022 is about 14%. CDW Corporation (NASDAQ:CDW) is one of the dividend-paying technology stocks. Earlier in February, CDW Corporation (NASDAQ:CDW) declared a quarterly dividend of $0.59 per share. Forward dividend yield came in at 1.18%. The dividend is payable on March 10 to shareholders of record as of February 24. CDW Corporation (NASDAQ:CDW) also said its board of directors approved a $750 million boost to CDW’s share buyback program.

34 hedge funds in Insider Monkey’s database of elite hedge funds had stakes in CDW Corporation (NASDAQ:CDW) at the end of the third quarter of 2022. The total value of these stakes was about $1.7 billion. The biggest stakeholder of CDW Corporation (NASDAQ:CDW) during this period was Robert Joseph Caruso’s Select Equity Group which reported owning about 7.1 million shares of the company at the end of the September quarter.

Here is what Wedgewood Partners has to say about CDW Corporation (NASDAQ:CDW) in its Q3 2022 investor com:

“CDW contributed to performance during the quarter after logging +19% currency-neutral revenue growth and +26% operating earnings growth. The Company’s “omni-office” strategy of outfitting small and medium businesses with software, hardware and services, wherever workers decide or need to work continues to resonate. CDW organizes itself across several end-markets, with each of these end markets at different stages of building out their omni-office presences. In the meantime, the post-Pandemic IT environment has quickly evolved from supply scarcity (due to vendor shortages and strong demand) where CDW flexed its balance sheet to ensure inventory availability, to more recently helping customers manage never before seen levels of complexity related to a work-from-every-where workforce. CDW’s consistent returns, cheap multiple, and mission-critical functions it offers to vendors and customers continues to be an attractive risk-reward for portfolios.”

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