Brown Brothers Harriman & Co. Purchases 409 Shares of CDW Co. (NASDAQ:CDW)

Brown Brothers Harriman & Co. boosted its holdings in shares of CDW Co. (NASDAQ:CDW) by 51.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,211 shares of the information technology services provider’s stock after buying an additional 409 shares during the period. Brown Brothers Harriman & Co.’s holdings in CDW were worth $271,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of CDW during the 4th quarter valued at $111,736,000. UBS Group AG raised its position in CDW by 60.7% during the fourth quarter. UBS Group AG now owns 194,686 shares of the information technology services provider’s stock valued at $44,256,000 after purchasing an additional 73,503 shares in the last quarter. Balentine LLC lifted its stake in CDW by 21.3% during the fourth quarter. Balentine LLC now owns 1,558 shares of the information technology services provider’s stock worth $354,000 after purchasing an additional 274 shares during the last quarter. D.A. Davidson & CO. purchased a new position in shares of CDW in the 4th quarter worth about $348,000. Finally, Corient Private Wealth LLC raised its stake in shares of CDW by 22.1% during the fourth quarter. Corient Private Wealth LLC now owns 102,621 shares of the information technology services provider’s stock worth $23,328,000 after acquiring an additional 18,577 shares in the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CDW has been the topic of several recent research reports. Stifel Nicolaus increased their target price on shares of CDW from $250.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Barclays decreased their price objective on CDW from $232.00 to $229.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. Finally, Northcoast Research upgraded shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price on the stock in a report on Friday, June 7th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.63.

CDW Price Performance

Shares of CDW stock opened at $221.62 on Thursday. CDW Co. has a 52 week low of $185.04 and a 52 week high of $263.37. The company has a market cap of $29.79 billion, a PE ratio of 27.67, a P/E/G ratio of 3.27 and a beta of 1.04. The business has a 50 day moving average of $222.05 and a 200 day moving average of $230.30. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 2.03.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.05). The firm had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.43 billion. CDW had a return on equity of 62.22% and a net margin of 5.29%. The firm’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the company posted $2.43 EPS. As a group, equities research analysts forecast that CDW Co. will post 9.4 earnings per share for the current year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Monday, August 26th. CDW’s dividend payout ratio is currently 30.96%.

Insider Activity

In other CDW news, insider Sona Chawla sold 18,437 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were 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 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 available through the SEC website. In other news, insider Sona Chawla sold 18,437 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total value of $4,433,176.65. Following the sale, the insider now directly owns 22,428 shares of the company’s stock, valued at $5,392,812.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Christine A. Leahy purchased 1,200 shares of the stock in a transaction dated Thursday, August 1st. The stock was bought at an average cost of $216.15 per share, with a total value of $259,380.00. Following the transaction, the insider now owns 102,200 shares in the company, valued at $22,090,530. The disclosure for this purchase can be found here. 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.