Wealth Enhancement Advisory Services LLC Increases Stock Holdings in CDW Co. (NASDAQ:CDW)

Wealth Enhancement Advisory Services LLC raised its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 79.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,968 shares of the information technology services provider's stock after purchasing an additional 5,301 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in CDW were worth $2,083,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of CDW by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider's stock valued at $2,901,905,000 after purchasing an additional 99,947 shares during the last quarter. Geode Capital Management LLC boosted its position in CDW by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider's stock valued at $614,220,000 after buying an additional 54,341 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of CDW by 29.2% during the fourth quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock worth $441,848,000 after buying an additional 574,444 shares during the last quarter. Invesco Ltd. increased its holdings in shares of CDW by 27.6% during the fourth quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider's stock worth $422,351,000 after buying an additional 524,559 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of CDW by 31.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider's stock valued at $420,149,000 after acquiring an additional 575,333 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on CDW. 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 report on Thursday, April 17th. UBS Group cut their price target on CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Citigroup upped their price objective on CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Finally, Barclays dropped their price objective on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, CDW has an average rating of "Hold" and an average price target of $208.71.

CDW Trading Down 0.5%

Shares of CDW traded down $0.81 during mid-day trading on Monday, reaching $177.43. 1,038,577 shares of the company were exchanged, compared to its average volume of 1,225,765. The business has a 50 day simple moving average of $167.63 and a two-hundred day simple moving average of $175.81. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The stock has a market capitalization of $23.36 billion, a PE ratio of 22.26, 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.

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 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 the consensus estimate of $4.93 billion. CDW had a net margin of 5.13% and a return on equity of 55.42%. The company's revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.92 EPS. On average, analysts predict that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 26th will be paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Friday, May 23rd. CDW's dividend payout ratio is presently 30.98%.

Insider Activity at CDW

In related news, insider Christine A. Leahy sold 40,917 shares of the business's stock in a transaction 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 owns 144,931 shares in the company, valued at $26,293,382.02. The trade was a 22.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Frederick J. Kulevich sold 28,159 shares of the firm's stock in a transaction 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 0.84% of the stock is owned by company insiders.

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.