Chesley Taft & Associates LLC Increases Position in CDW Co. (NASDAQ:CDW)

Chesley Taft & Associates LLC lifted its holdings in CDW Co. (NASDAQ:CDW) by 6.8% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,952 shares of the information technology services provider’s stock after buying an additional 315 shares during the period. Chesley Taft & Associates LLC’s holdings in CDW were worth $1,267,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. UBS Group AG lifted its stake in CDW by 60.7% in the fourth quarter. UBS Group AG now owns 194,686 shares of the information technology services provider’s stock valued at $44,256,000 after purchasing an additional 73,503 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in CDW by 16.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 49,011 shares of the information technology services provider’s stock valued at $11,141,000 after purchasing an additional 6,799 shares during the last quarter. Cerity Partners LLC lifted its stake in CDW by 44.9% in the fourth quarter. Cerity Partners LLC now owns 14,553 shares of the information technology services provider’s stock valued at $3,308,000 after purchasing an additional 4,511 shares during the last quarter. Rafferty Asset Management LLC raised its holdings in CDW by 157.3% during the 4th quarter. Rafferty Asset Management LLC now owns 90,362 shares of the information technology services provider’s stock valued at $20,541,000 after acquiring an additional 55,239 shares during the period. Finally, Pacer Advisors Inc. raised its holdings in CDW by 84.9% during the 4th quarter. Pacer Advisors Inc. now owns 15,924 shares of the information technology services provider’s stock valued at $3,620,000 after acquiring an additional 7,310 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CDW. JPMorgan Chase & Co. lowered their target price on shares of CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Citigroup decreased their price target on shares of CDW from $295.00 to $260.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Northcoast Research raised shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target on the stock in a report on Friday, June 7th. Barclays decreased their price target on shares of CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Finally, Stifel Nicolaus reduced their target price on CDW from $265.00 to $250.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $250.00.

CDW Stock Performance

CDW stock opened at $224.06 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 2.35. The firm has a 50-day moving average of $227.60 and a 200-day moving average of $233.59. The firm has a market cap of $30.11 billion, a P/E ratio of 27.97, a P/E/G ratio of 3.29 and a beta of 1.06. CDW Co. has a 1-year low of $176.05 and a 1-year high of $263.37.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.15). CDW had a return on equity of 67.56% and a net margin of 5.16%. The company had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $4.94 billion. Sell-side analysts expect that CDW Co. will post 9.67 EPS for the current year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date was Thursday, May 23rd. CDW’s dividend payout ratio is 30.96%.

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.