Congress Asset Management Co. Increases Position in CDW Co. (NASDAQ:CDW)

Congress Asset Management Co. boosted its holdings in CDW Co. (NASDAQ:CDW) by 24.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 88,651 shares of the information technology services provider’s stock after purchasing an additional 17,586 shares during the quarter. Congress Asset Management Co. owned about 0.07% of CDW worth $14,207,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Allworth Financial LP grew its holdings in CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 52 shares during the period. Summit Trail Advisors LLC lifted its stake in shares of CDW by 1.4% in the fourth quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock worth $703,000 after buying an additional 56 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of CDW by 38.9% in the fourth 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 in the last quarter. Jacobi Capital Management LLC lifted its stake in shares of CDW by 4.5% in the fourth quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider’s stock worth $248,000 after buying an additional 61 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in shares of CDW by 2.7% in the fourth quarter. Signaturefd LLC now owns 2,706 shares of the information technology services provider’s stock worth $471,000 after buying an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Price Performance

NASDAQ CDW opened at $178.24 on Friday. The business’s fifty day moving average price is $167.63 and its 200-day moving average price is $175.82. The stock has a market capitalization of $23.47 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 3.21 and a beta of 0.95. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. CDW Co. has a 1-year low of $137.31 and a 1-year high of $241.26.

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

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th will be issued a dividend of $0.625 per share. The ex-dividend date is Friday, May 23rd. This represents a $2.50 annualized dividend and a dividend yield of 1.40%. CDW’s payout ratio is 30.98%.

Insider Activity

In other CDW news, insider Christine A. Leahy sold 40,917 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 144,931 shares in the company, valued at approximately $26,293,382.02. This trade represents a 22.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Frederick J. Kulevich sold 28,159 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was 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 in the company, valued at $6,887,099.30. The trade was a 43.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

CDW has been the topic of several analyst reports. Citigroup upped their target price on shares of CDW from $160.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Barclays dropped their target price on shares of CDW from $223.00 to $205.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 8th. UBS Group dropped their target price on shares of CDW from $236.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. dropped their target price on shares of CDW from $222.00 to $175.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.