Empirical Finance LLC Buys 160 Shares of CDW Co. (NASDAQ:CDW)

Empirical Finance LLC raised its stake in CDW Co. (NASDAQ:CDW) by 3.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 4,669 shares of the information technology services provider’s stock after acquiring an additional 160 shares during the period. Empirical Finance LLC’s holdings in CDW were worth $1,194,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in CDW by 29.1% during the 4th quarter. Wellington Management Group LLP now owns 3,464,886 shares of the information technology services provider’s stock worth $787,638,000 after buying an additional 781,421 shares during the period. First Trust Advisors LP raised its stake in shares of CDW by 627.3% in the fourth quarter. First Trust Advisors LP now owns 625,781 shares of the information technology services provider’s stock worth $142,252,000 after purchasing an additional 539,745 shares during the last quarter. Norges Bank purchased a new stake in shares of CDW in the fourth quarter worth approximately $111,736,000. Pensioenfonds Rail & OV purchased a new stake in shares of CDW in the first quarter worth approximately $44,711,000. Finally, BNP Paribas Financial Markets raised its stake in shares of CDW by 188.4% in the first quarter. BNP Paribas Financial Markets now owns 212,994 shares of the information technology services provider’s stock worth $54,480,000 after purchasing an additional 139,145 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

NASDAQ CDW traded up $4.68 on Friday, hitting $228.50. 938,140 shares of the stock traded hands, compared to its average volume of 790,991. The business’s fifty day moving average is $224.16 and its two-hundred day moving average is $233.40. CDW Co. has a 12 month low of $184.99 and a 12 month high of $263.37. The firm has a market capitalization of $30.71 billion, a price-to-earnings ratio of 27.94, a PEG ratio of 3.22 and a beta of 1.04. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.13 and a current ratio of 1.26.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($0.15). The company had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $4.94 billion. CDW had a return on equity of 67.56% and a net margin of 5.16%. As a group, equities analysts anticipate that CDW Co. will post 9.67 EPS for the current fiscal year.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th were given a dividend of $0.62 per share. The ex-dividend date was Thursday, May 23rd. This represents a $2.48 annualized dividend and a dividend yield of 1.09%. CDW’s dividend payout ratio is currently 30.96%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Stifel Nicolaus lowered their price objective on CDW from $265.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Northcoast Research raised CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price for the company in a report on Friday, June 7th. Barclays reduced their target price on CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Citigroup reduced their target price on CDW from $295.00 to $260.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. reduced their target price on CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $250.00.

CDW Company Profile

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 and cloud capabilities across hybrid infrastructure, digital experience, and security.