CDW Co. (NASDAQ:CDW) Shares Bought by Cardinal Capital Management Inc.

Cardinal Capital Management Inc. grew its stake in CDW Co. (NASDAQ:CDW - Free Report) by 57.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 75,355 shares of the information technology services provider's stock after acquiring an additional 27,545 shares during the quarter. Cardinal Capital Management Inc. owned about 0.06% of CDW worth $12,076,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its position in CDW by 12.7% during the 4th quarter. Franklin Resources Inc. now owns 121,757 shares of the information technology services provider's stock worth $21,191,000 after acquiring an additional 13,748 shares during the period. Madison Investment Advisors LLC purchased a new stake in shares of CDW during the 4th quarter worth about $130,996,000. Wellington Management Group LLP grew its holdings in 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. Geode Capital Management LLC increased its holdings in CDW by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider's stock worth $614,220,000 after acquiring an additional 54,341 shares in the last quarter. Finally, Schwartz Investment Counsel Inc. increased its stake in shares of CDW by 144.5% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 162,000 shares of the information technology services provider's stock worth $28,194,000 after purchasing an additional 95,750 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.

CDW Stock Up 0.7%

CDW stock traded up $1.30 during midday trading on Tuesday, reaching $178.73. The company's stock had a trading volume of 1,368,971 shares, compared to its average volume of 1,226,335. 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 Co. has a fifty-two week low of $137.31 and a fifty-two week high of $241.26. The company has a market cap 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 business has a 50-day simple moving average of $167.89 and a 200-day simple moving average of $175.80.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $4.93 billion. CDW had a net margin of 5.13% and a return on equity of 55.42%. CDW's revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.92 earnings per share. On average, research analysts expect that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 26th will be given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Friday, May 23rd. CDW's payout ratio is currently 30.98%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. decreased their price objective on CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Citigroup lifted 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 decreased their price objective on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. Finally, UBS Group dropped their price objective on shares of CDW from $236.00 to $210.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, CDW presently has an average rating of "Hold" and a consensus target price of $208.71.

Insider Activity at CDW

In other news, insider Christine A. Leahy sold 40,917 shares of the firm's stock in a transaction that occurred on 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 $26,293,382.02. This trade represents a 22.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Frederick J. Kulevich sold 28,159 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $190.90, for a total value of $5,375,553.10. Following the transaction, the insider now directly owns 36,077 shares in the company, valued at $6,887,099.30. This represents a 43.84% decrease in their position. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by 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.