Hengehold Capital Management LLC Acquires 1,705 Shares of CDW Co. (NASDAQ:CDW)

Hengehold Capital Management LLC grew its position in CDW Co. (NASDAQ:CDW) by 128.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,033 shares of the information technology services provider’s stock after buying an additional 1,705 shares during the quarter. Hengehold Capital Management LLC’s holdings in CDW were worth $486,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of CDW by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider’s stock worth $2,901,905,000 after acquiring an additional 99,947 shares in the last quarter. Geode Capital Management LLC increased its position in CDW by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider’s stock valued at $614,220,000 after buying an additional 54,341 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of CDW by 29.2% in the fourth quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider’s stock valued at $441,848,000 after purchasing an additional 574,444 shares during the period. Invesco Ltd. increased its holdings in shares of CDW by 27.6% in the fourth quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider’s stock valued at $422,351,000 after purchasing an additional 524,559 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of CDW by 31.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider’s stock valued at $420,149,000 after purchasing an additional 575,333 shares during the period. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Trading Down 2.5%

Shares of NASDAQ CDW opened at $170.42 on Friday. CDW Co. has a twelve month low of $137.31 and a twelve month high of $241.26. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The stock has a fifty day simple moving average of $170.10 and a 200-day simple moving average of $175.71. The stock has a market capitalization of $22.44 billion, a PE ratio of 21.38, a PEG ratio of 3.21 and a beta of 0.95.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.19. CDW had a return on equity of 55.42% and a net margin of 5.13%. 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 firm posted $1.92 earnings per share. The company’s revenue was up 6.7% on a year-over-year basis. On average, equities analysts forecast that CDW Co. will post 9.41 earnings per share for the current year.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 26th were paid a dividend of $0.625 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.50 annualized dividend and a yield of 1.47%. CDW’s payout ratio is 30.98%.

Insiders Place Their Bets

In other news, insider Christine A. Leahy sold 40,917 shares of the business’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $181.42, for a total value of $7,423,162.14. Following the completion of the sale, the insider now directly owns 144,931 shares of the company’s stock, valued at approximately $26,293,382.02. The trade was a 22.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Frederick J. Kulevich sold 28,159 shares of the company’s 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 sale, the insider now directly 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. 0.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on CDW shares. JPMorgan Chase & Co. dropped their target price on CDW from $222.00 to $175.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Citigroup raised their target price on CDW from $160.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Barclays reduced their price objective on CDW from $223.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 8th. Finally, UBS Group reduced their price objective on CDW from $236.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $208.71.

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.