Creative Planning Has $3.23 Million Stock Holdings in CDW Co. (NASDAQ:CDW)

Creative Planning grew its holdings in CDW Co. (NASDAQ:CDW) by 2.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,255 shares of the information technology services provider’s stock after purchasing an additional 297 shares during the quarter. Creative Planning’s holdings in CDW were worth $3,226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in CDW. ORG Partners LLC acquired a new position in CDW during the 2nd quarter worth approximately $34,000. Quest Partners LLC acquired a new position in CDW during the 2nd quarter worth approximately $35,000. Summit Securities Group LLC acquired a new position in CDW during the 2nd quarter worth approximately $40,000. Continuum Advisory LLC raised its stake in CDW by 1,692.3% during the 2nd quarter. Continuum Advisory LLC now owns 233 shares of the information technology services provider’s stock worth $52,000 after buying an additional 220 shares during the period. Finally, Kimelman & Baird LLC acquired a new position in CDW during the 2nd quarter worth approximately $56,000. 93.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Christine A. Leahy acquired 1,200 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were acquired at an average price of $216.15 per share, for a total transaction of $259,380.00. Following the completion of the purchase, the insider now owns 102,200 shares in the company, valued at approximately $22,090,530. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

CDW Stock Performance

CDW stock opened at $217.01 on Friday. The firm has a market cap of $29.17 billion, a PE ratio of 27.09, a P/E/G ratio of 3.42 and a beta of 1.03. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 2.03. The business has a 50 day moving average of $221.50 and a 200-day moving average of $224.70. CDW Co. has a 12-month low of $185.04 and a 12-month high of $263.37.

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

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Monday, August 26th. CDW’s dividend payout ratio is presently 30.96%.

Analyst Ratings Changes

A number of research analysts recently weighed in on CDW shares. Stifel Nicolaus upped their price target on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Finally, Barclays decreased their price objective on CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $255.00.

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.