Pinnacle Wealth Planning Services Inc. Raises Holdings in CDW Co. (NASDAQ:CDW)

Pinnacle Wealth Planning Services Inc. boosted its stake in shares of CDW Co. (NASDAQ:CDW) by 13.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,525 shares of the information technology services provider’s stock after acquiring an additional 183 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in CDW were worth $390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Tsfg LLC bought a new position in shares of CDW in the 1st quarter worth approximately $26,000. Rise Advisors LLC bought a new position in shares of CDW in the 1st quarter worth approximately $34,000. Larson Financial Group LLC bought a new position in shares of CDW in the 4th quarter worth approximately $30,000. ORG Partners LLC bought a new position in shares of CDW in the 4th quarter worth approximately $36,000. Finally, Oakworth Capital Inc. bought a new position in shares of CDW in the 4th quarter worth approximately $36,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at CDW

In other news, insider Sona Chawla sold 18,437 shares of CDW stock in a transaction dated 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 directly owns 22,428 shares of the company’s stock, valued at $5,392,812.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.90% of the company’s stock.

CDW Price Performance

NASDAQ:CDW traded down $4.86 on Friday, reaching $228.84. 645,257 shares of the company’s stock traded hands, compared to its average volume of 1,016,627. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 2.35. The stock has a 50-day simple moving average of $225.62 and a 200-day simple moving average of $233.72. The firm has a market cap of $30.76 billion, a PE ratio of 28.57, a P/E/G ratio of 3.37 and a beta of 1.04. CDW Co. has a 12 month low of $184.99 and a 12 month high of $263.37.

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

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $2.48 dividend on an annualized basis and a yield of 1.08%. CDW’s dividend payout ratio is presently 30.96%.

Wall Street Analysts Forecast Growth

CDW has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price objective on CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Northcoast Research raised CDW from a “neutral” rating to a “buy” rating and set a $270.00 price objective for the company in a research report on Friday, June 7th. Stifel Nicolaus raised their price objective on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday. Citigroup reduced their price objective on CDW from $295.00 to $260.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Finally, Barclays reduced their price objective on CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $251.11.

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.