M&G Plc Makes New Investment in CDW Co. (NASDAQ:CDW)

M&G Plc acquired a new position in CDW Co. (NASDAQ:CDW) 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) 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.