Austin Asset Management Co Inc Buys New Position in CDW Co. (NASDAQ:CDW)

Austin Asset Management Co Inc acquired a new position in shares of CDW Co. (NASDAQ:CDW) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 28,600 shares of the information technology services provider’s stock, valued at approximately $6,402,000. CDW accounts for about 1.4% of Austin Asset Management Co Inc’s portfolio, making the stock its 14th biggest position.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Aaron Wealth Advisors LLC lifted its position in CDW by 2.8% during the 1st quarter. Aaron Wealth Advisors LLC now owns 1,540 shares of the information technology services provider’s stock worth $394,000 after acquiring an additional 42 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in CDW by 5.9% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 767 shares of the information technology services provider’s stock worth $196,000 after acquiring an additional 43 shares during the period. RDA Financial Network raised its stake in shares of CDW by 3.0% during the 2nd quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider’s stock worth $355,000 after buying an additional 46 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of CDW by 1.4% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,446 shares of the information technology services provider’s stock worth $881,000 after buying an additional 47 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of CDW by 5.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,144 shares of the information technology services provider’s stock worth $260,000 after buying an additional 54 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Christine A. Leahy purchased 1,200 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was bought at an average price of $216.15 per share, with a total value of $259,380.00. Following the completion of the transaction, the insider now owns 102,200 shares of the company’s stock, valued at approximately $22,090,530. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other CDW news, insider Christine A. Leahy acquired 1,200 shares of the firm’s stock in a transaction dated 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 acquisition, the insider now directly owns 102,200 shares of the company’s stock, valued at $22,090,530. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Sona Chawla sold 18,437 shares of the firm’s 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 owns 22,428 shares in the company, valued at approximately $5,392,812.60. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

CDW Stock Performance

NASDAQ CDW opened at $221.62 on Thursday. CDW Co. has a 1-year low of $185.04 and a 1-year high of $263.37. The company has a market capitalization of $29.79 billion, a P/E ratio of 27.67, a PEG ratio of 3.27 and a beta of 1.04. The business has a 50 day moving average price of $222.10 and a 200 day moving average price of $230.24. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.13 and a quick ratio of 1.02.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.39 by ($0.05). The company 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 business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.43 EPS. Sell-side analysts expect that CDW Co. will post 9.4 EPS for the current fiscal year.

CDW Dividend Announcement

The business also recently declared 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 was Monday, August 26th. CDW’s payout ratio is 30.96%.

Analysts Set New Price Targets

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

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.