Cardinal Capital Management Inc. Acquires 27,545 Shares of CDW Co. (NASDAQ:CDW)

Cardinal Capital Management Inc. grew its holdings in CDW Co. (NASDAQ:CDW) by 57.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 75,355 shares of the information technology services provider’s stock after purchasing an additional 27,545 shares during the quarter. Cardinal Capital Management Inc.’s holdings in CDW were worth $12,076,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Orion Capital Management LLC bought a new stake in shares of CDW in the 4th quarter valued at about $30,000. Allworth Financial LP grew its position in shares of CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after buying an additional 52 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of CDW in the 4th quarter worth approximately $32,000. Parkside Financial Bank & Trust grew its position in shares of CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after buying an additional 58 shares during the last quarter. Finally, Optiver Holding B.V. grew its position in shares of CDW by 107.2% in the 4th quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider’s stock worth $40,000 after buying an additional 119 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

Shares of NASDAQ CDW opened at $177.43 on Tuesday. 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. The company has a 50 day simple moving average of $167.89 and a two-hundred day simple moving average of $175.80. The stock has a market cap of $23.36 billion, a price-to-earnings ratio of 22.26, a PEG ratio of 3.21 and a beta of 0.95.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $1.96 by $0.19. CDW had a net margin of 5.13% and a return on equity of 55.42%. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $4.93 billion. During the same period in the previous year, the business posted $1.92 EPS. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. As a group, analysts predict that CDW Co. will post 9.41 earnings per share for the current year.

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 26th will be paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.41%. The ex-dividend date is Friday, May 23rd. CDW’s payout ratio is 30.98%.

Insider Buying and Selling at CDW

In related news, insider Christine A. Leahy sold 40,917 shares of the business’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $181.42, for a total value of $7,423,162.14. Following the completion of the transaction, the insider now directly owns 144,931 shares in the company, valued at $26,293,382.02. The trade was a 22.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Frederick J. Kulevich sold 28,159 shares of the business’s stock in a transaction on 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 completion of the transaction, the insider now owns 36,077 shares of the company’s stock, valued at approximately $6,887,099.30. This represents a 43.84% decrease in their ownership of the stock. 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 recently issued reports on CDW. 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 report on Thursday, May 8th. JPMorgan Chase & Co. cut their price objective on shares of CDW from $222.00 to $175.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. UBS Group cut their price objective on shares of CDW from $236.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Finally, Barclays cut their price objective on shares of CDW from $223.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, CDW currently has an average rating of “Hold” and a consensus target price of $208.71.

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.