Kimelman & Baird LLC Invests $56,000 in CDW Co. (NASDAQ:CDW)

Kimelman & Baird LLC bought a new stake in CDW Co. (NASDAQ:CDW) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 250 shares of the information technology services provider’s stock, valued at approximately $56,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. raised its position in CDW by 2.3% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 5,965 shares of the information technology services provider’s stock valued at $1,356,000 after buying an additional 133 shares during the last quarter. Orion Portfolio Solutions LLC lifted its stake in CDW by 11.6% in the 4th quarter. Orion Portfolio Solutions LLC now owns 5,808 shares of the information technology services provider’s stock worth $1,267,000 after purchasing an additional 605 shares in the last quarter. Brown Brothers Harriman & Co. boosted its stake in CDW by 137.1% during the fourth quarter. Brown Brothers Harriman & Co. now owns 735 shares of the information technology services provider’s stock valued at $167,000 after buying an additional 425 shares during the period. California State Teachers Retirement System boosted its position in shares of CDW by 0.4% during the 4th quarter. California State Teachers Retirement System now owns 212,947 shares of the information technology services provider’s stock valued at $48,407,000 after acquiring an additional 817 shares during the last quarter. Finally, NEOS Investment Management LLC lifted its position in CDW by 325.2% during the fourth quarter. NEOS Investment Management LLC now owns 6,323 shares of the information technology services provider’s stock valued at $1,437,000 after purchasing an additional 4,836 shares during the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Stock Performance

Shares of CDW opened at $226.30 on Tuesday. The business’s 50 day moving average price is $221.05 and its 200-day moving average price is $228.88. The stock has a market cap of $30.41 billion, a P/E ratio of 28.25, a P/E/G ratio of 3.40 and a beta of 1.04. CDW Co. has a 52 week low of $185.04 and a 52 week high of $263.37. 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 announced its quarterly earnings data 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). CDW had a return on equity of 62.22% and a net margin of 5.29%. The firm had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter in the previous year, the firm earned $2.43 earnings per share. CDW’s revenue was down 3.6% on a year-over-year basis. Equities research analysts anticipate that CDW Co. will post 9.4 earnings per share for the current fiscal year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.48 dividend on an annualized basis and a yield of 1.10%. CDW’s dividend payout ratio (DPR) is 30.96%.

Insider Activity

In other CDW news, insider Christine A. Leahy acquired 1,200 shares of the stock in a transaction dated Thursday, August 1st. The shares were purchased at an average price of $216.15 per share, for a total transaction of $259,380.00. Following the purchase, the insider now directly owns 102,200 shares of the company’s stock, valued at $22,090,530. The acquisition was disclosed in a filing with the SEC, which is available at this link. In related news, insider Sona Chawla sold 18,437 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $240.45, for a total value 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 approximately $5,392,812.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Christine A. Leahy acquired 1,200 shares of CDW stock in a transaction dated Thursday, August 1st. The shares were bought at an average price of $216.15 per share, for a total transaction 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. Insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Northcoast Research raised CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price for the company in a research note on Friday, June 7th. Barclays cut their target price on CDW from $232.00 to $229.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. Finally, Stifel Nicolaus boosted their price objective on shares of CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, CDW currently has an average rating of “Moderate Buy” and a consensus target price of $254.63.

About CDW

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.