CDW Co. (NASDAQ:CDW) Shares Acquired by Congress Asset Management Co.

Congress Asset Management Co. grew its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 24.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,651 shares of the information technology services provider's stock after buying an additional 17,586 shares during the period. Congress Asset Management Co. owned 0.07% of CDW worth $14,207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of CDW. Allworth Financial LP raised its holdings in CDW by 39.7% during the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock valued at $32,000 after buying an additional 52 shares during the period. Summit Trail Advisors LLC increased its position in CDW by 1.4% during the fourth quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider's stock valued at $703,000 after acquiring an additional 56 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in shares of CDW by 38.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock valued at $36,000 after acquiring an additional 58 shares during the period. Jacobi Capital Management LLC lifted its holdings in shares of CDW by 4.5% in the 4th quarter. Jacobi Capital Management LLC now owns 1,428 shares of the information technology services provider's stock worth $248,000 after acquiring an additional 61 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in shares of CDW by 2.7% during the 4th quarter. Signaturefd LLC now owns 2,706 shares of the information technology services provider's stock worth $471,000 after purchasing an additional 72 shares during the period. Hedge funds and other institutional investors own 93.15% of the company's stock.

CDW Price Performance

Shares of CDW stock traded down $3.06 on Wednesday, reaching $175.67. The company's stock had a trading volume of 584,346 shares, compared to its average volume of 1,227,018. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The company has a market capitalization of $23.13 billion, a P/E ratio of 22.04, a PEG ratio of 3.21 and a beta of 0.95. The stock has a 50-day moving average price of $168.44 and a 200-day moving average price of $175.82. CDW Co. has a 52-week low of $137.31 and a 52-week high of $241.26.

CDW (NASDAQ:CDW - Get Free Report) last issued its earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 EPS for the quarter, beating analysts' consensus estimates of $1.96 by $0.19. The business had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $4.93 billion. CDW had a net margin of 5.13% and a return on equity of 55.42%. The company's quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.92 earnings per share. Analysts expect that CDW Co. will post 9.41 EPS for the current year.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 26th were paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.42%. The ex-dividend date was Friday, May 23rd. CDW's dividend payout ratio (DPR) is presently 30.98%.

Insider Buying and Selling

In other CDW news, insider Christine A. Leahy sold 40,917 shares of the stock in a transaction dated 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 sale, the insider now 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Frederick J. Kulevich sold 28,159 shares of CDW stock in a transaction dated 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 completion of the transaction, the insider now owns 36,077 shares of the company's stock, valued at $6,887,099.30. The trade was a 43.84% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

CDW 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.