Professional Advisory Services Inc. raised its position in CDW Co. (NASDAQ:CDW – Free Report) by 17.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 146,209 shares of the information technology services provider’s stock after purchasing an additional 21,353 shares during the quarter. CDW accounts for approximately 4.1% of Professional Advisory Services Inc.’s holdings, making the stock its 2nd largest holding. Professional Advisory Services Inc. owned 0.11% of CDW worth $26,829,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hartford Investment Management Co. grew its holdings in shares of CDW by 16.1% in the 1st quarter. Hartford Investment Management Co. now owns 11,839 shares of the information technology services provider’s stock valued at $2,307,000 after acquiring an additional 1,639 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of CDW by 2.8% in the 1st quarter. Arizona State Retirement System now owns 39,362 shares of the information technology services provider’s stock valued at $7,671,000 after acquiring an additional 1,081 shares in the last quarter. MCF Advisors LLC grew its holdings in shares of CDW by 36.6% in the 1st quarter. MCF Advisors LLC now owns 403 shares of the information technology services provider’s stock valued at $79,000 after acquiring an additional 108 shares in the last quarter. ETF Managers Group LLC grew its holdings in shares of CDW by 4.2% in the 4th quarter. ETF Managers Group LLC now owns 3,999 shares of the information technology services provider’s stock valued at $714,000 after acquiring an additional 161 shares in the last quarter. Finally, Gobi Capital LLC grew its holdings in shares of CDW by 6.5% in the 1st quarter. Gobi Capital LLC now owns 835,077 shares of the information technology services provider’s stock valued at $162,748,000 after acquiring an additional 51,200 shares in the last quarter. Institutional investors and hedge funds own 93.04% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on CDW. StockNews.com began coverage on CDW in a report on Thursday, August 17th. They set a “hold” rating for the company. Morgan Stanley boosted their price objective on CDW from $200.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, August 3rd. Raymond James boosted their price objective on CDW from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. Citigroup began coverage on CDW in a report on Thursday, June 29th. They set a “buy” rating and a $205.00 price objective for the company. Finally, Barclays boosted their price objective on CDW from $198.00 to $216.00 and gave the stock an “equal weight” rating in a report on Thursday, August 3rd. Three investment 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 a consensus rating of “Moderate Buy” and a consensus price target of $207.00.
CDW Price Performance
Shares of NASDAQ CDW traded down $2.79 during midday trading on Friday, reaching $207.00. 1,189,703 shares of the company were exchanged, compared to its average volume of 812,841. The company has a quick ratio of 1.14, a current ratio of 1.30 and a debt-to-equity ratio of 3.55. CDW Co. has a one year low of $147.91 and a one year high of $215.70. The stock has a market cap of $27.75 billion, a P/E ratio of 26.34, a PEG ratio of 1.73 and a beta of 1.08. The stock’s 50-day moving average price is $199.85 and its 200-day moving average price is $187.04.
CDW (NASDAQ:CDW – Get Free Report) last issued its quarterly earnings data on Wednesday, August 2nd. The information technology services provider reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.18. CDW had a net margin of 4.81% and a return on equity of 83.33%. The company had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $5.39 billion. On average, sell-side analysts anticipate that CDW Co. will post 9.2 earnings per share for the current fiscal year.
CDW Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, August 24th. This represents a $2.36 dividend on an annualized basis and a yield of 1.14%. CDW’s dividend payout ratio (DPR) is currently 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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