O Shaughnessy Asset Management LLC Raises Stake in CDW Co. (NASDAQ:CDW)

O Shaughnessy Asset Management LLC increased its stake in shares of CDW Co. (NASDAQ:CDW) by 6.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,923 shares of the information technology services provider’s stock after buying an additional 1,490 shares during the period. O Shaughnessy Asset Management LLC’s holdings in CDW were worth $6,119,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CDW. Tsfg LLC purchased a new stake in shares of CDW during the 1st quarter worth approximately $26,000. Larson Financial Group LLC purchased a new stake in CDW in the fourth quarter worth $30,000. Rise Advisors LLC bought a new stake in shares of CDW in the first quarter valued at $34,000. ORG Partners LLC bought a new stake in shares of CDW in the fourth quarter valued at $36,000. Finally, Oakworth Capital Inc. purchased a new position in shares of CDW during the 4th quarter valued at $36,000. Institutional investors own 93.15% of the company’s stock.

CDW Price Performance

Shares of CDW traded down $0.94 during mid-day trading on Wednesday, reaching $229.21. 997,370 shares of the stock traded hands, compared to its average volume of 789,207. The company has a market cap of $30.81 billion, a price-to-earnings ratio of 28.73, a price-to-earnings-growth ratio of 3.43 and a beta of 1.04. CDW Co. has a 1 year low of $184.99 and a 1 year high of $263.37. The firm has a fifty day moving average price of $226.00 and a 200 day moving average price of $234.07. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 2.35.

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

CDW Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Sona Chawla sold 18,437 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the transaction, the insider now directly owns 22,428 shares in the company, valued at approximately $5,392,812.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CDW. Citigroup lowered their price objective on CDW from $295.00 to $260.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Barclays lowered their price target on shares of CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Stifel Nicolaus raised their price objective on shares of CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. reduced their price objective on shares of CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Finally, Northcoast Research upgraded CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price on the stock in a research report on Friday, June 7th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.