Net Worth Advisory Group Buys New Stake in CDW Co. (NASDAQ:CDW)

Net Worth Advisory Group purchased a new position in shares of CDW Co. (NASDAQ:CDW - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,584 shares of the information technology services provider's stock, valued at approximately $254,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Orion Capital Management LLC acquired a new position in CDW in the 4th quarter valued at about $30,000. Allworth Financial LP boosted its holdings in CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock valued at $32,000 after purchasing an additional 52 shares during the last quarter. OFI Invest Asset Management acquired a new position in CDW in the 4th quarter valued at about $32,000. Parkside Financial Bank & Trust boosted its holdings in CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock valued at $36,000 after purchasing an additional 58 shares during the last quarter. Finally, Optiver Holding B.V. boosted its holdings in CDW by 107.2% in the 4th quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock valued at $40,000 after purchasing an additional 119 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other CDW news, insider Christine A. Leahy sold 40,917 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 144,931 shares of the company's stock, valued at approximately $26,293,382.02. This represents a 22.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, 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 transaction of $5,375,553.10. Following the completion of the sale, the insider now directly owns 36,077 shares in the company, valued at approximately $6,887,099.30. This represents a 43.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

CDW Trading Down 2.5%

Shares of CDW stock traded down $4.33 on Friday, reaching $170.42. The company had a trading volume of 1,116,048 shares, compared to its average volume of 1,235,267. The firm's 50 day moving average price is $170.10 and its two-hundred day moving average price is $175.71. The firm has a market cap of $22.44 billion, a PE ratio of 21.38, a PEG ratio of 3.21 and a beta of 0.95. CDW Co. has a 52-week low of $137.31 and a 52-week high of $241.26. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35.

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, topping analysts' consensus estimates of $1.96 by $0.19. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business earned $1.92 EPS. Sell-side analysts predict that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Citigroup boosted their target price on shares of CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Barclays reduced 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. JPMorgan Chase & Co. reduced 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. Finally, UBS Group reduced 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. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, CDW currently has a consensus 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.