Chesley Taft & Associates LLC Purchases 1,945 Shares of CDW Co. (NASDAQ:CDW)

Chesley Taft & Associates LLC lifted its position in CDW Co. (NASDAQ:CDW - Free Report) by 43.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 6,462 shares of the information technology services provider's stock after purchasing an additional 1,945 shares during the quarter. Chesley Taft & Associates LLC's holdings in CDW were worth $1,036,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CDW. DAVENPORT & Co LLC grew its holdings in shares of CDW by 838.6% in the 4th quarter. DAVENPORT & Co LLC now owns 11,901 shares of the information technology services provider's stock worth $2,064,000 after purchasing an additional 10,633 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of CDW by 13.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 36,057 shares of the information technology services provider's stock worth $6,338,000 after purchasing an additional 4,384 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in CDW during the 4th quarter worth about $3,150,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in CDW by 0.4% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 333,296 shares of the information technology services provider's stock worth $58,007,000 after acquiring an additional 1,327 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of CDW by 13.6% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,611 shares of the information technology services provider's stock worth $2,891,000 after acquiring an additional 1,991 shares during the last quarter. Institutional investors own 93.15% of the company's stock.

CDW Stock Performance

CDW stock opened at $175.75 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. CDW Co. has a 1 year low of $137.31 and a 1 year high of $241.26. The company has a market cap of $23.14 billion, a PE ratio of 22.05, a PEG ratio of 3.21 and a beta of 0.91. The company's 50-day moving average is $167.31 and its two-hundred day moving average is $175.79.

CDW (NASDAQ:CDW - Get Free Report) last released its earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.96 by $0.19. The company had revenue of $5.20 billion for 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%. The company's revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.92 EPS. Equities analysts anticipate that CDW Co. will post 9.41 earnings per share for the current year.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 26th will be given a $0.625 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.42%. CDW's dividend payout ratio is 30.98%.

Wall Street Analysts Forecast Growth

CDW has been the topic of several research analyst reports. UBS Group decreased their price target on shares of CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Citigroup increased their price target on shares of CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Morgan Stanley increased their price target on shares of CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Barclays decreased their price target on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. decreased their price target on shares of CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $216.38.

Insider Activity at CDW

In related news, insider Frederick J. Kulevich sold 28,159 shares of the 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 in the company, valued at $6,887,099.30. This trade represents a 43.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $7,423,162.14. Following the sale, the insider now owns 144,931 shares in the company, valued at $26,293,382.02. This trade represents a 22.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.84% of the stock is currently 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.

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