CDW Co. (NASDAQ:CDW) Shares Bought by Bleakley Financial Group LLC

Bleakley Financial Group LLC lifted its position in shares of CDW Co. (NASDAQ:CDW) by 4.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,049 shares of the information technology services provider’s stock after buying an additional 140 shares during the quarter. Bleakley Financial Group LLC’s holdings in CDW were worth $690,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Tsfg LLC acquired a new position in shares of CDW in the first quarter worth $26,000. ORG Partners LLC acquired a new stake in shares of CDW during the 2nd quarter worth about $34,000. Quest Partners LLC purchased a new stake in shares of CDW during the second quarter worth about $35,000. Summit Securities Group LLC acquired a new position in shares of CDW in the second quarter valued at approximately $40,000. Finally, Continuum Advisory LLC lifted its stake in shares of CDW by 1,692.3% during the second quarter. Continuum Advisory LLC now owns 233 shares of the information technology services provider’s stock valued at $52,000 after buying an additional 220 shares during the period. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Stifel Nicolaus boosted their price target on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Finally, Barclays dropped their price objective on shares of CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a research note 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. Based on data from MarketBeat.com, CDW presently has an average rating of “Moderate Buy” and an average target price of $255.00.

Insider Activity

In related news, insider Christine A. Leahy purchased 1,200 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was purchased at an average cost of $216.15 per share, for a total transaction of $259,380.00. Following the acquisition, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.90% of the company’s stock.

CDW Price Performance

CDW stock opened at $220.35 on Tuesday. The company has a market cap of $29.61 billion, a PE ratio of 27.51, a price-to-earnings-growth ratio of 3.42 and a beta of 1.03. The company has a current ratio of 1.13, a quick ratio of 1.02 and a debt-to-equity ratio of 2.03. The stock has a 50-day moving average price of $221.63 and a two-hundred day moving average price of $225.53. CDW Co. has a 12-month low of $185.04 and a 12-month high of $263.37.

CDW (NASDAQ:CDW) last issued its earnings results 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). CDW had a return on equity of 62.22% and a net margin of 5.29%. The firm had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter in the previous year, the firm posted $2.43 EPS. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, research analysts predict that CDW Co. will post 9.4 EPS for the current year.

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Monday, August 26th. CDW’s payout ratio is currently 30.96%.

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.