Cardinal Capital Management Inc. Boosts Stock Holdings in CDW Co. (NASDAQ:CDW)

Cardinal Capital Management Inc. boosted its stake in shares of CDW Co. (NASDAQ:CDW) by 57.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 75,355 shares of the information technology services provider’s stock after acquiring an additional 27,545 shares during the period. Cardinal Capital Management Inc. owned 0.06% of CDW worth $12,076,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in CDW by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider’s stock valued at $2,901,905,000 after acquiring an additional 99,947 shares in the last quarter. Geode Capital Management LLC grew its stake in CDW by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider’s stock valued at $614,220,000 after acquiring an additional 54,341 shares in the last quarter. Wellington Management Group LLP grew its stake in CDW by 29.2% during the fourth quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider’s stock valued at $441,848,000 after acquiring an additional 574,444 shares in the last quarter. Invesco Ltd. grew its stake in CDW by 27.6% during the fourth quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider’s stock valued at $422,351,000 after acquiring an additional 524,559 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in CDW by 31.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider’s stock valued at $420,149,000 after acquiring an additional 575,333 shares in the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CDW

In related news, insider Christine A. Leahy sold 40,917 shares of CDW stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $181.42, for a total transaction of $7,423,162.14. Following the completion of the sale, the insider now owns 144,931 shares in the company, valued at $26,293,382.02. This trade represents a 22.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Frederick J. Kulevich sold 28,159 shares of CDW stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $190.90, for a total transaction of $5,375,553.10. Following the sale, the insider now owns 36,077 shares of the company’s stock, valued at $6,887,099.30. The trade was a 43.84% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CDW. Barclays dropped their price objective on shares of CDW from $223.00 to $205.00 and set an “equal weight” rating for the company in a research note on Thursday, May 8th. Citigroup lifted their price objective on shares of CDW from $160.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. dropped their price objective on shares of CDW from $222.00 to $175.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Finally, UBS Group dropped their price objective on shares of CDW from $236.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $208.71.

CDW Price Performance

CDW stock opened at $177.43 on Tuesday. The firm has a 50-day moving average price of $167.89 and a 200-day moving average price of $175.80. The firm has a market capitalization of $23.36 billion, a PE ratio of 22.26, a price-to-earnings-growth ratio of 3.21 and a beta of 0.95. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. CDW Co. has a 12-month low of $137.31 and a 12-month high of $241.26.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.19. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $4.93 billion. CDW had a net margin of 5.13% and a return on equity of 55.42%. The business’s revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the business earned $1.92 EPS. As a group, equities research analysts forecast that CDW Co. will post 9.41 EPS for the current year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th will be issued a $0.625 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.50 annualized dividend and a dividend yield of 1.41%. CDW’s dividend payout ratio (DPR) is presently 30.98%.

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.