Hennessy Advisors Inc. Acquires Shares of 15,175 CDW Co. (NASDAQ:CDW)

Hennessy Advisors Inc. acquired a new stake in shares of CDW Co. (NASDAQ:CDW - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 15,175 shares of the information technology services provider's stock, valued at approximately $2,432,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Orion Capital Management LLC bought a new position in shares of CDW during the 4th quarter valued at about $30,000. Allworth Financial LP raised its position in shares of 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 in the last quarter. OFI Invest Asset Management purchased a new stake in shares of CDW during the 4th quarter valued at about $32,000. Parkside Financial Bank & Trust raised its position in shares of CDW by 38.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock valued at $36,000 after buying an additional 58 shares in the last quarter. Finally, Optiver Holding B.V. raised its position in shares of CDW by 107.2% during the 4th quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock valued at $40,000 after buying an additional 119 shares in the last quarter. Institutional investors own 93.15% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Citigroup upped their target price 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. JPMorgan Chase & Co. decreased their target price on shares of CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Barclays decreased their target price on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. Finally, UBS Group decreased their target price on shares of CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $208.71.

Insider Transactions 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 shares were sold at an average price of $181.42, for a total transaction of $7,423,162.14. Following the transaction, the insider now directly owns 144,931 shares of the company's stock, valued at approximately $26,293,382.02. This trade represents a 22.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Frederick J. Kulevich sold 28,159 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $190.90, for a total transaction of $5,375,553.10. Following the transaction, the insider now directly owns 36,077 shares in the company, valued at approximately $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. Corporate insiders own 0.90% of the company's stock.

CDW Stock Down 2.5%

Shares of NASDAQ CDW opened at $170.42 on Friday. 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 $22.44 billion, a P/E ratio of 21.38, a PEG ratio of 3.21 and a beta of 0.95. CDW Co. has a 1 year low of $137.31 and a 1 year high of $241.26. The firm has a 50-day simple moving average of $170.10 and a two-hundred day simple moving average of $175.71.

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 (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.19. The business 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%. The firm's quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.92 earnings per share. Research analysts anticipate that CDW Co. will post 9.41 earnings per share for the current year.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th were given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Friday, May 23rd. CDW's dividend payout ratio (DPR) is presently 30.98%.

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.

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