Chesley Taft & Associates LLC Has $1.04 Million Stake in CDW Co. (NASDAQ:CDW)

Chesley Taft & Associates LLC grew its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 43.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 quarter.

A number of other hedge funds have also recently made changes to their positions in CDW. DAVENPORT & Co LLC lifted its position in CDW by 838.6% during the 4th quarter. DAVENPORT & Co LLC now owns 11,901 shares of the information technology services provider's stock worth $2,064,000 after acquiring an additional 10,633 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in 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 buying an additional 4,384 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of CDW during the fourth quarter worth $3,150,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of CDW by 0.4% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 333,296 shares of the information technology services provider's stock valued at $58,007,000 after purchasing an additional 1,327 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in CDW by 13.6% during 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 purchasing an additional 1,991 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Christine A. Leahy sold 40,917 shares of CDW stock in a transaction on Thursday, May 8th. The shares were 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 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 dated 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 $6,887,099.30. This trade represents a 43.84% 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 company insiders.

Analyst Ratings Changes

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

CDW Stock Down 0.5%

CDW traded down $0.81 during trading on Monday, hitting $177.43. The company had a trading volume of 1,038,577 shares, compared to its average volume of 1,225,765. CDW Co. has a 1-year low of $137.31 and a 1-year high of $241.26. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. The company has a market cap of $23.36 billion, a PE ratio of 22.26, a P/E/G ratio of 3.21 and a beta of 0.95. The business has a 50-day moving average of $167.63 and a 200-day moving average of $175.81.

CDW (NASDAQ:CDW - Get Free Report) last posted 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 analysts' expectations of $4.93 billion. CDW had a return on equity of 55.42% and a net margin of 5.13%. The firm's quarterly revenue was up 6.7% compared to the same quarter last year. During the same period last year, the business posted $1.92 earnings per share. As a group, analysts forecast that CDW Co. will post 9.41 earnings per share for the current year.

CDW Dividend Announcement

The business 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 is Friday, May 23rd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.41%. CDW's dividend payout ratio (DPR) is 30.98%.

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.