CDW Co. (NASDAQ:CDW) Shares Acquired by Professional Advisory Services Inc.

Professional Advisory Services Inc. raised its holdings in shares of CDW Co. (NASDAQ:CDW) by 4.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,814 shares of the information technology services provider’s stock after purchasing an additional 4,565 shares during the quarter. CDW makes up 3.4% of Professional Advisory Services Inc.’s holdings, making the stock its 8th biggest position. Professional Advisory Services Inc. owned about 0.08% of CDW worth $25,530,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CDW. Tsfg LLC acquired a new stake in shares of CDW during the first quarter worth $26,000. Rise Advisors LLC acquired a new stake in shares of CDW during the first quarter worth $34,000. ORG Partners LLC acquired a new stake in shares of CDW during the second quarter worth $34,000. Quest Partners LLC bought a new position in shares of CDW in the second quarter worth $35,000. Finally, Summit Securities Group LLC bought a new position in shares of CDW in the second quarter worth $40,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Performance

CDW stock opened at $221.18 on Friday. CDW Co. has a 12-month low of $185.04 and a 12-month 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 business’s 50-day moving average price is $221.37 and its two-hundred day moving average price is $226.38. The stock has a market cap of $29.73 billion, a PE ratio of 27.61, a P/E/G ratio of 3.42 and a beta of 1.03.

CDW (NASDAQ:CDW) last released 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 net margin of 5.29% and a return on equity of 62.22%. The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter in the prior year, the firm earned $2.43 EPS. The business’s revenue was down 3.6% on a year-over-year basis. As a group, analysts expect that CDW Co. will post 9.4 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Monday, August 26th. CDW’s payout ratio is 30.96%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CDW. Barclays decreased their price target on CDW from $232.00 to $229.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Citigroup cut 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 report on Tuesday, October 1st. Finally, Stifel Nicolaus raised their price target on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CDW currently has a consensus rating of “Moderate Buy” and an average target price of $255.00.

Insider Activity

In other news, insider Christine A. Leahy purchased 1,200 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were purchased at an average cost of $216.15 per share, with a total value of $259,380.00. Following the completion of the purchase, the insider now owns 102,200 shares of the company’s stock, valued at $22,090,530. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.90% of the company’s stock.

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.