Zuckerman Investment Group LLC lessened its stake in shares of CDW Co. (NASDAQ:CDW – Free Report) by 0.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 61,037 shares of the information technology services provider’s stock after selling 60 shares during the quarter. CDW makes up 1.8% of Zuckerman Investment Group LLC’s holdings, making the stock its 23rd biggest holding. Zuckerman Investment Group LLC’s holdings in CDW were worth $11,896,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in CDW by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 15,723,027 shares of the information technology services provider’s stock valued at $2,812,692,000 after purchasing an additional 196,216 shares during the period. FMR LLC boosted its position in shares of CDW by 25.8% during the 1st quarter. FMR LLC now owns 7,062,063 shares of the information technology services provider’s stock valued at $1,376,326,000 after purchasing an additional 1,447,117 shares in the last quarter. Geode Capital Management LLC grew its stake in CDW by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 2,817,597 shares of the information technology services provider’s stock worth $502,267,000 after purchasing an additional 77,555 shares during the period. Morgan Stanley increased its holdings in CDW by 130.7% in the fourth quarter. Morgan Stanley now owns 2,442,301 shares of the information technology services provider’s stock worth $436,146,000 after purchasing an additional 1,383,869 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in CDW by 284.5% in the first quarter. Envestnet Asset Management Inc. now owns 2,040,506 shares of the information technology services provider’s stock valued at $95,838,000 after buying an additional 1,509,778 shares during the period. 93.04% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts have recently commented on CDW shares. Citigroup assumed coverage on shares of CDW in a research report on Thursday, June 29th. They set a “buy” rating and a $205.00 price objective for the company. Barclays raised their price target on shares of CDW from $198.00 to $216.00 and gave the stock an “equal weight” rating in a report on Thursday, August 3rd. Raymond James upped their price objective on shares of CDW from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, August 3rd. StockNews.com began coverage on CDW in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Morgan Stanley upped their price target on CDW from $200.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, August 3rd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $207.00.
CDW Stock Up 1.0 %
CDW traded up $2.03 during midday trading on Friday, reaching $213.18. 486,522 shares of the company were exchanged, compared to its average volume of 819,477. CDW Co. has a one year low of $147.91 and a one year high of $215.00. The company has a debt-to-equity ratio of 3.55, a quick ratio of 1.14 and a current ratio of 1.30. The company’s fifty day moving average price is $193.91 and its 200 day moving average price is $186.84. The company has a market cap of $28.58 billion, a price-to-earnings ratio of 27.12, a price-to-earnings-growth ratio of 1.73 and a beta of 1.10.
CDW (NASDAQ:CDW – Get Free Report) last announced its quarterly earnings results on Wednesday, August 2nd. The information technology services provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.18. CDW had a return on equity of 83.33% and a net margin of 4.81%. The business had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.39 billion. As a group, analysts expect that CDW Co. will post 9.13 EPS for the current year.
CDW Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Thursday, August 24th. CDW’s payout ratio is 30.03%.
CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise, hybrid, and cloud capabilities across hybrid infrastructure, digital experience, and security.
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