M&G Plc acquired a new position in CDW Co. (NASDAQ:CDW – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 33,312 shares of the information technology services provider’s stock, valued at approximately $8,528,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CDW. Exchange Traded Concepts LLC raised its position in CDW by 119.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,258 shares of the information technology services provider’s stock valued at $286,000 after acquiring an additional 684 shares in the last quarter. Diversified Trust Co raised its holdings in CDW by 4.6% during the fourth quarter. Diversified Trust Co now owns 1,157 shares of the information technology services provider’s stock valued at $263,000 after buying an additional 51 shares in the last quarter. Dfpg Investments LLC lifted its position in shares of CDW by 18.8% in the fourth quarter. Dfpg Investments LLC now owns 1,653 shares of the information technology services provider’s stock worth $359,000 after buying an additional 261 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of CDW by 2.6% during the 4th quarter. Nordea Investment Management AB now owns 9,373 shares of the information technology services provider’s stock worth $2,132,000 after acquiring an additional 239 shares in the last quarter. Finally, Chesley Taft & Associates LLC raised its stake in shares of CDW by 18.7% in the 4th quarter. Chesley Taft & Associates LLC now owns 4,637 shares of the information technology services provider’s stock valued at $1,054,000 after acquiring an additional 732 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.
Analyst Upgrades and Downgrades
CDW has been the topic of several analyst reports. JPMorgan Chase & Co. lowered their price target on CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Stifel Nicolaus raised their price target on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday. Northcoast Research raised CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target on the stock in a research report on Friday, June 7th. Citigroup dropped their target price on shares of CDW from $295.00 to $260.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Finally, Barclays cut their price objective on shares of CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, CDW presently has a consensus rating of “Moderate Buy” and an average price target of $251.11.
CDW Trading Down 2.1 %
NASDAQ:CDW traded down $4.86 during mid-day trading on Friday, hitting $228.84. The company had a trading volume of 645,257 shares, compared to its average volume of 1,016,627. The firm has a market cap of $30.76 billion, a P/E ratio of 28.57, a P/E/G ratio of 3.37 and a beta of 1.04. CDW Co. has a fifty-two week low of $184.99 and a fifty-two week high of $263.37. The business’s fifty day moving average is $225.62 and its two-hundred day moving average is $233.72. 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 – Get Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The information technology services provider reported $1.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.15). The firm had revenue of $4.87 billion for the quarter, compared to analyst estimates of $4.94 billion. CDW had a net margin of 5.16% and a return on equity of 67.56%. As a group, research analysts expect that CDW Co. will post 9.67 earnings per share for the current year.
CDW Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Friday, May 24th were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date was Thursday, May 23rd. CDW’s dividend payout ratio is presently 30.96%.
Insider Buying and Selling at CDW
In related news, insider Sona Chawla sold 18,437 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the completion of the transaction, the insider now directly owns 22,428 shares of the company’s stock, valued at $5,392,812.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.90% of the company’s stock.
CDW 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.
Further Reading
- Five stocks we like better than CDW
- Insider Selling Explained: Can it Inform Your Investing Choices?
- Why This AI Stock is Rising Despite Tech Sell-Off
- 5 discounted opportunities for dividend growth investors
- Investors Are Moving into Bonds and Small Cap Stocks: Here’s Why
- Why Are Stock Sectors Important to Successful Investing?
- MarketBeat Week in Review – 7/15 – 7/19
Receive News & Ratings for CDW Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CDW and related companies with MarketBeat.com's FREE daily email newsletter.