Cardinal Capital Management Inc. Grows Stock Holdings in CDW Co. (NASDAQ:CDW)

Cardinal Capital Management Inc. raised its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 57.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,355 shares of the information technology services provider's stock after buying an additional 27,545 shares during the period. Cardinal Capital Management Inc. owned about 0.06% of CDW worth $12,076,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Orion Capital Management LLC purchased a new position in shares of CDW during the fourth quarter worth about $30,000. Allworth Financial LP grew its holdings in shares of 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 purchasing an additional 52 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of CDW during the fourth quarter worth about $32,000. Parkside Financial Bank & Trust grew its holdings in shares of 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 purchasing an additional 58 shares during the last quarter. Finally, Optiver Holding B.V. grew its holdings in shares of 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 buying an additional 119 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Stock Performance

CDW traded down $4.33 during trading on Friday, reaching $170.42. The company's stock had a trading volume of 1,116,048 shares, compared to its average volume of 1,232,637. CDW Co. has a 52-week low of $137.31 and a 52-week high of $241.26. The company's fifty day moving average price is $170.10 and its 200-day moving average price is $175.72. The company has a market capitalization of $22.44 billion, a price-to-earnings ratio of 21.38, a price-to-earnings-growth ratio of 3.21 and a beta of 0.95. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35.

CDW (NASDAQ:CDW - Get Free Report) last announced 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 company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same quarter in the previous year, the company earned $1.92 EPS. The firm's revenue for the quarter was up 6.7% compared to the same quarter last year. On average, equities analysts forecast that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 26th were issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend was Friday, May 23rd. CDW's dividend payout ratio is presently 30.98%.

Insider Activity

In other news, 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 sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $5,375,553.10. Following the sale, 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 disclosure for this sale can be found here. Insiders own 0.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Barclays lowered their price target on CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. UBS Group lowered their price target on CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Citigroup raised their price target on CDW from $160.00 to $180.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. lowered their price target on CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price 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.