Hixon Zuercher LLC Has $1.37 Million Stake in CDW Co. (NASDAQ:CDW)

Hixon Zuercher LLC lifted its stake in CDW Co. (NASDAQ:CDW) by 7.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,120 shares of the information technology services provider’s stock after purchasing an additional 438 shares during the period. Hixon Zuercher LLC’s holdings in CDW were worth $1,370,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in CDW by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider’s stock worth $4,196,721,000 after purchasing an additional 714,393 shares in the last quarter. Wellington Management Group LLP lifted its holdings in CDW by 29.1% during the 4th quarter. Wellington Management Group LLP now owns 3,464,886 shares of the information technology services provider’s stock valued at $787,638,000 after purchasing an additional 781,421 shares during the last quarter. Mawer Investment Management Ltd. lifted its holdings in CDW by 0.9% during the 1st quarter. Mawer Investment Management Ltd. now owns 3,101,924 shares of the information technology services provider’s stock valued at $793,410,000 after purchasing an additional 27,753 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in CDW by 3.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,431,573 shares of the information technology services provider’s stock valued at $366,168,000 after purchasing an additional 51,450 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of CDW by 3.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,135,792 shares of the information technology services provider’s stock worth $258,196,000 after buying an additional 33,235 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Performance

NASDAQ:CDW opened at $225.64 on Friday. The business’s 50-day moving average price is $222.76 and its two-hundred day moving average price is $232.59. CDW Co. has a twelve month low of $185.04 and a twelve month high of $263.37. The stock has a market cap of $30.14 billion, a P/E ratio of 28.17, a PEG ratio of 3.42 and a beta of 1.04. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 2.03.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.05). CDW had a return on equity of 62.22% and a net margin of 5.29%. The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter in the previous year, the business earned $2.43 earnings per share. CDW’s revenue was down 3.6% compared to the same quarter last year. As a group, equities analysts predict that CDW Co. will post 9.4 EPS for the current fiscal year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Monday, August 26th. CDW’s payout ratio is currently 30.96%.

Insider Activity at CDW

In related news, insider Sona Chawla sold 18,437 shares of the company’s stock in a transaction on 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 completion of the sale, the insider now owns 22,428 shares in the company, valued at $5,392,812.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Christine A. Leahy purchased 1,200 shares of CDW stock in a transaction on Thursday, August 1st. The stock was acquired at an average price of $216.15 per share, for a total transaction of $259,380.00. Following the completion of the transaction, the insider now directly owns 102,200 shares in the company, valued at approximately $22,090,530. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value of $4,433,176.65. Following the sale, the insider now owns 22,428 shares of the company’s stock, valued at approximately $5,392,812.60. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CDW has been the subject of a number of analyst reports. Northcoast Research raised CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target for the company in a research note on Friday, June 7th. Barclays reduced their price target on CDW from $232.00 to $229.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. Finally, Stifel Nicolaus lifted their price objective on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, CDW has an average rating of “Moderate Buy” and a consensus price target of $254.63.

CDW Company 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.