CDW Co. (NASDAQ:CDW) Shares Bought by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. grew its stake in CDW Co. (NASDAQ:CDW) by 9.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,261 shares of the information technology services provider’s stock after purchasing an additional 286 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in CDW were worth $730,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CDW. Acadian Asset Management LLC boosted its holdings in CDW by 211.5% in the 1st quarter. Acadian Asset Management LLC now owns 44,205 shares of the information technology services provider’s stock worth $11,302,000 after buying an additional 30,012 shares during the last quarter. Insight Wealth Strategies LLC purchased a new stake in shares of CDW during the first quarter worth approximately $3,940,000. Grayhawk Investment Strategies Inc. purchased a new stake in shares of CDW during the fourth quarter worth approximately $854,000. Wealthcare Advisory Partners LLC acquired a new position in CDW in the 1st quarter valued at $1,403,000. Finally, Mediolanum International Funds Ltd purchased a new position in CDW in the 1st quarter valued at $2,461,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

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

CDW Price Performance

CDW stock opened at $220.49 on Tuesday. 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. The stock has a market cap of $29.63 billion, a price-to-earnings ratio of 27.53, a price-to-earnings-growth ratio of 3.40 and a beta of 1.03. The business has a fifty day moving average of $220.02 and a two-hundred day moving average of $227.85.

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

CDW Dividend Announcement

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 dividend yield of 1.12%. CDW’s payout ratio is currently 30.96%.

Insider Activity at CDW

In other news, insider Christine A. Leahy purchased 1,200 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were bought at an average cost of $216.15 per share, for a total transaction of $259,380.00. Following the completion of the purchase, the insider now directly owns 102,200 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is available at this link. 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 shares were bought at an average cost of $216.15 per share, for a total transaction of $259,380.00. Following the completion of the purchase, the insider now directly owns 102,200 shares of the company’s stock, valued at approximately $22,090,530. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 directly owns 22,428 shares of the company’s stock, valued at approximately $5,392,812.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

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.