CDW Co. (NASDAQ:CDW) Stake Lifted by JGP Wealth Management LLC

by · The Cerbat Gem

JGP Wealth Management LLC increased its position in shares of CDW Co. (NASDAQ:CDW – Free Report) by 5.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 48,799 shares of the information technology services provider’s stock after buying an additional 2,604 shares during the quarter. CDW accounts for 1.4% of JGP Wealth Management LLC’s investment portfolio, making the stock its 26th biggest holding. JGP Wealth Management LLC’s holdings in CDW were worth $11,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Perpetual Ltd purchased a new position in CDW in the 3rd quarter worth about $158,300,000. Wedmont Private Capital boosted its holdings in shares of CDW by 4.9% in the third quarter. Wedmont Private Capital now owns 1,727 shares of the information technology services provider’s stock worth $381,000 after buying an additional 81 shares during the period. FCF Advisors LLC purchased a new position in shares of CDW in the third quarter worth approximately $2,205,000. Atomi Financial Group Inc. raised its holdings in shares of CDW by 17.9% during the third quarter. Atomi Financial Group Inc. now owns 1,251 shares of the information technology services provider’s stock valued at $283,000 after acquiring an additional 190 shares during the period. Finally, Insight Wealth Strategies LLC lifted its position in shares of CDW by 3.2% in the 3rd quarter. Insight Wealth Strategies LLC now owns 17,497 shares of the information technology services provider’s stock valued at $3,960,000 after acquiring an additional 541 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CDW has been the subject of a number of research reports. Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and decreased their target price for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Barclays dropped their price objective on CDW from $232.00 to $229.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. Finally, Stifel Nicolaus raised their price target on shares of CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $255.00.

Check Out Our Latest Report on CDW

CDW Stock Up 0.2 %

NASDAQ CDW traded up $0.53 on Friday, reaching $222.22. The company had a trading volume of 411,066 shares, compared to its average volume of 811,657. The company’s fifty day moving average is $220.16 and its 200-day moving average is $227.57. CDW Co. has a 1-year low of $185.04 and a 1-year high of $263.37. The firm has a market capitalization of $29.68 billion, a price-to-earnings ratio of 27.17, a price-to-earnings-growth ratio of 3.42 and a beta of 1.03. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.02 and a current ratio of 1.13.

CDW (NASDAQ:CDW – Get Free Report) last announced its earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.05). CDW had a return on equity of 62.22% and a net margin of 5.29%. The business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same quarter in the previous year, the company posted $2.43 EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, research analysts forecast that CDW Co. will post 9.4 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Monday, August 26th. CDW’s dividend payout ratio is 30.39%.

Insiders Place Their Bets

In related news, insider Christine A. Leahy acquired 1,200 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was purchased at an average cost of $216.15 per share, with a total value of $259,380.00. Following the acquisition, the insider now directly owns 102,200 shares of the company’s stock, valued at approximately $22,090,530. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other CDW news, insider Christine A. Leahy acquired 1,200 shares of CDW stock in a transaction that occurred on Thursday, August 1st. The shares were bought at an average price of $216.15 per share, with a total value of $259,380.00. Following the completion of the purchase, the insider now directly owns 102,200 shares in the company, valued at $22,090,530. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Sona Chawla sold 18,437 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the completion of the sale, the insider now directly owns 22,428 shares in the company, valued at approximately $5,392,812.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

CDW Company Profile

(Free Report)

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.

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