CDW Co. (NASDAQ:CDW) Shares Bought by Vest Financial LLC

Vest Financial LLC boosted its stake in shares of CDW Co. (NASDAQ:CDW) by 40.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,243 shares of the information technology services provider’s stock after acquiring an additional 648 shares during the quarter. Vest Financial LLC’s holdings in CDW were worth $359,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of CDW by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider’s stock worth $2,901,905,000 after buying an additional 99,947 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of CDW by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider’s stock worth $614,220,000 after buying an additional 54,341 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of CDW by 29.2% during the 4th quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider’s stock worth $441,848,000 after buying an additional 574,444 shares in the last quarter. Invesco Ltd. raised its stake in shares of CDW by 27.6% during the 4th quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider’s stock worth $422,351,000 after buying an additional 524,559 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of CDW by 31.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider’s stock worth $420,149,000 after buying an additional 575,333 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Frederick J. Kulevich sold 28,159 shares of the firm’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $190.90, for a total transaction of $5,375,553.10. Following the sale, the insider now owns 36,077 shares in the company, valued at $6,887,099.30. This trade represents a 43.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christine A. Leahy sold 40,917 shares of the firm’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $181.42, for a total value of $7,423,162.14. Following the sale, the insider now owns 144,931 shares in the company, valued at $26,293,382.02. This trade represents a 22.02% decrease in their position. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by company insiders.

CDW Stock Performance

CDW stock opened at $178.24 on Monday. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The stock has a fifty day moving average of $167.63 and a two-hundred day moving average of $175.81. The company has a market capitalization of $23.47 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 3.21 and a beta of 0.95. CDW Co. has a fifty-two week low of $137.31 and a fifty-two week high of $241.26.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.19. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $4.93 billion. CDW had a return on equity of 55.42% and a net margin of 5.13%. CDW’s revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.92 earnings per share. On average, analysts anticipate that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 26th will be given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.40%. The ex-dividend date is Friday, May 23rd. CDW’s payout ratio is 30.98%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CDW shares. Barclays cut their target price on CDW from $223.00 to $205.00 and set an “equal weight” rating for the company in a research note on Thursday, May 8th. UBS Group cut their target price on CDW from $236.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Citigroup raised their price objective on CDW from $160.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. dropped their price objective on CDW from $222.00 to $175.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, CDW has a consensus rating of “Hold” and a consensus price target of $208.71.

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.