Vaughan Nelson Investment Management L.P. Has $27.37 Million Stock Position in CDW Co. (NASDAQ:CDW)

Vaughan Nelson Investment Management L.P. lifted its position in shares of CDW Co. (NASDAQ:CDW - Free Report) by 32.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 170,773 shares of the information technology services provider's stock after buying an additional 41,940 shares during the quarter. Vaughan Nelson Investment Management L.P. owned about 0.13% of CDW worth $27,369,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of CDW. Opal Wealth Advisors LLC increased its position in shares of CDW by 14.8% in the first quarter. Opal Wealth Advisors LLC now owns 1,482 shares of the information technology services provider's stock worth $238,000 after purchasing an additional 191 shares during the period. Hennessy Advisors Inc. bought a new position in shares of CDW in the first quarter worth $2,432,000. Wealth Enhancement Advisory Services LLC increased its position in shares of CDW by 7.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,826 shares of the information technology services provider's stock worth $2,055,000 after purchasing an additional 858 shares during the period. Net Worth Advisory Group bought a new position in shares of CDW in the first quarter worth $254,000. Finally, CX Institutional bought a new position in shares of CDW in the first quarter worth $146,000. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Price Performance

CDW stock traded down $4.33 during midday trading on Friday, reaching $170.42. The company's stock had a trading volume of 1,116,048 shares, compared to its average volume of 1,235,267. CDW Co. has a 52 week low of $137.31 and a 52 week high of $241.26. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The business has a 50-day moving average price of $170.10 and a 200-day moving average price of $175.71. The stock has a market cap of $22.44 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 3.21 and a beta of 0.95.

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. CDW had a return on equity of 55.42% and a net margin of 5.13%. The firm had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $4.93 billion. During the same quarter in the previous year, the business posted $1.92 earnings per share. The business's revenue for the quarter was up 6.7% on a year-over-year basis. On average, sell-side analysts predict that CDW Co. will post 9.41 EPS for the current year.

CDW Dividend Announcement

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

Wall Street Analysts Forecast Growth

CDW has been the topic of a number of recent analyst reports. Citigroup raised their price target on CDW from $160.00 to $180.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. decreased their price target on CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. UBS Group decreased their price target 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, Barclays decreased their target price on CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a research report 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 stock. According to MarketBeat.com, CDW presently has a consensus rating of "Hold" and an average target price of $208.71.

Insider Transactions at CDW

In other news, insider Frederick J. Kulevich sold 28,159 shares of the business's stock in a transaction dated 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 sale, the insider now directly owns 36,077 shares in the company, valued at approximately $6,887,099.30. The trade was a 43.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Christine A. Leahy sold 40,917 shares of the business's 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 in the company, valued at approximately $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. Company insiders own 0.90% of the company's stock.

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.