Kendall Capital Management Boosts Stake in CDW Co. (NASDAQ:CDW)

Kendall Capital Management increased its stake in CDW Co. (NASDAQ:CDW) by 7.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,301 shares of the information technology services provider’s stock after buying an additional 1,781 shares during the period. CDW accounts for about 1.8% of Kendall Capital Management’s holdings, making the stock its 12th largest holding. Kendall Capital Management’s holdings in CDW were worth $5,440,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CDW. Wellington Management Group LLP grew its stake in shares of CDW by 29.1% in 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 last quarter. Vanguard Group Inc. boosted its stake in CDW by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider’s stock valued at $4,196,721,000 after purchasing an additional 714,393 shares during the last quarter. Lazard Asset Management LLC boosted its stake in CDW by 225.9% during the 1st quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider’s stock valued at $225,491,000 after purchasing an additional 611,054 shares during the last quarter. First Trust Advisors LP boosted its stake in CDW by 627.3% during the 4th quarter. First Trust Advisors LP now owns 625,781 shares of the information technology services provider’s stock valued at $142,252,000 after purchasing an additional 539,745 shares during the last quarter. Finally, Norges Bank purchased a new stake in CDW during the 4th quarter valued at $111,736,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on CDW. Stifel Nicolaus increased their target price on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Barclays lowered their price target 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 raised CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target on the stock in a report on Friday, June 7th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, CDW has a consensus rating of “Moderate Buy” and an average target price of $254.63.

CDW Price Performance

Shares of CDW stock opened at $221.62 on Thursday. CDW Co. has a one year low of $185.04 and a one year high of $263.37. The stock’s fifty day moving average is $222.10 and its 200 day moving average is $230.24. The stock has a market cap of $29.79 billion, a P/E ratio of 27.67, a P/E/G ratio of 3.27 and a beta of 1.04. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.02 and a current ratio of 1.13.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.05). CDW had a return on equity of 62.22% and a net margin of 5.29%. The company had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the prior year, the business posted $2.43 earnings per share. CDW’s revenue for the quarter was down 3.6% compared to the same quarter last year. Sell-side analysts anticipate that CDW Co. will post 9.4 earnings per share for the current year.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were paid a $0.62 dividend. The ex-dividend date was Monday, August 26th. This represents a $2.48 dividend on an annualized basis and a yield of 1.12%. CDW’s payout ratio is presently 30.96%.

Insiders Place Their Bets

In other CDW news, insider Christine A. Leahy purchased 1,200 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was acquired at an average price of $216.15 per share, for a total transaction of $259,380.00. Following the purchase, the insider now owns 102,200 shares of the company’s stock, valued at approximately $22,090,530. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other CDW 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 completion of the sale, the insider now owns 22,428 shares in the company, valued at approximately $5,392,812.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christine A. Leahy acquired 1,200 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were purchased at an average price of $216.15 per share, with a total value of $259,380.00. Following the transaction, the insider now owns 102,200 shares of the company’s stock, valued at $22,090,530. The disclosure for this purchase can be found here. 0.90% of the stock is currently owned by company insiders.

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.