Here’s Why CDW Corporation (CDW) Rose in Q3

Madison Investments, an investment advisor, released its “Madison Mid Cap Fund” third-quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund (Class Y) returned -1.8% compared to a -4.7% decline for the Russell Midcap Index. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Madison Mid Cap Fund highlighted stocks like CDW Corporation (NASDAQ:CDW) in the third quarter 2023 investor letter. Headquartered in Vernon Hills, Illinois, CDW Corporation (NASDAQ:CDW) is an information technology (IT) solutions provider. On October 16, 2023, CDW Corporation (NASDAQ:CDW) stock closed at $208.82 per share. One-month return of CDW Corporation (NASDAQ:CDW) was 0.45%, and its shares gained 30.04% of their value over the last 52 weeks. CDW Corporation (NASDAQ:CDW) has a market capitalization of $28.07 billion.

Madison Mid Cap Fund made the following comment about CDW Corporation (NASDAQ:CDW) in its Q3 2023 investor letter:

“In the third quarter, the top five contributors were Arch Capital Group, Arista Networks, Liberty Broadband, CDW Corporation (NASDAQ:CDW), and Progressive. Following an unexpected guidance reduction in the first quarter, shares in CDW rebounded nicely, as its second quarter results came in better than expected, and profitability growth was restored.”

CDW Corporation (NASDAQ:CDW) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 33 hedge fund portfolios held CDW Corporation (NASDAQ:CDW) at the end of second quarter which was 33 in the previous quarter.

We discussed CDW Corporation (NASDAQ:CDW) in another article and shared Cooper Investors Global Equities Fund’s views on the company. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.