CDW Co. (NASDAQ:CDW) Shares Purchased by Portside Wealth Group LLC

Portside Wealth Group LLC boosted its position in CDW Co. (NASDAQ:CDW) by 17.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,058 shares of the information technology services provider’s stock after acquiring an additional 306 shares during the quarter. Portside Wealth Group LLC’s holdings in CDW were worth $330,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Orion Capital Management LLC acquired a new stake in CDW during the fourth quarter worth about $30,000. Allworth Financial LP raised its stake in CDW by 39.7% during the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock worth $32,000 after acquiring an additional 52 shares during the period. OFI Invest Asset Management acquired a new stake in CDW during the fourth quarter worth about $32,000. Parkside Financial Bank & Trust raised its stake in CDW by 38.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after acquiring an additional 58 shares during the period. Finally, Optiver Holding B.V. raised its stake in CDW by 107.2% during the fourth quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider’s stock worth $40,000 after acquiring an additional 119 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Trading Up 0.7%

Shares of CDW stock opened at $178.73 on Wednesday. CDW Co. has a 12-month low of $137.31 and a 12-month high of $241.26. The company has a market capitalization of $23.54 billion, a P/E ratio of 22.43, a P/E/G ratio of 3.21 and a beta of 0.95. The firm has a 50-day moving average price of $168.44 and a 200 day moving average price of $175.82. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share (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 firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $4.93 billion. During the same period last year, the firm posted $1.92 EPS. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. Research analysts forecast that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 26th were given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend was Friday, May 23rd. CDW’s payout ratio is presently 30.98%.

Analyst Ratings Changes

Several research analysts have commented on CDW shares. 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 report on Thursday, May 8th. Barclays decreased their target price on shares of CDW from $223.00 to $205.00 and set an “equal weight” rating for the company in a research report on Thursday, May 8th. JPMorgan Chase & Co. decreased their target price on shares of CDW from $222.00 to $175.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Finally, UBS Group decreased their target price on shares of CDW from $236.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $208.71.

Insider Transactions at CDW

In other CDW news, insider Frederick J. Kulevich sold 28,159 shares of CDW stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $190.90, for a total value of $5,375,553.10. Following the transaction, the insider now owns 36,077 shares of the company’s stock, valued at approximately $6,887,099.30. The trade was a 43.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Christine A. Leahy sold 40,917 shares of CDW stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $181.42, for a total transaction of $7,423,162.14. Following the completion of the transaction, the insider now directly owns 144,931 shares in the company, valued at approximately $26,293,382.02. The trade was a 22.02% decrease in their position. The disclosure for this sale can be found here. 0.84% of the stock is owned by corporate insiders.

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.