Price T Rowe Associates Inc. MD Acquires 195,951 Shares of CDW Co. (NASDAQ:CDW)

Price T Rowe Associates Inc. MD grew its holdings in CDW Co. (NASDAQ:CDW) by 46.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 620,190 shares of the information technology services provider’s stock after purchasing an additional 195,951 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.46% of CDW worth $158,634,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CDW. Tsfg LLC bought a new position in CDW in the first quarter valued at about $26,000. Larson Financial Group LLC acquired a new position in CDW during the 4th quarter worth approximately $30,000. Rise Advisors LLC bought a new position in CDW in the 1st quarter valued at approximately $34,000. ORG Partners LLC acquired a new stake in CDW in the fourth quarter valued at approximately $36,000. Finally, Oakworth Capital Inc. bought a new stake in shares of CDW during the fourth quarter worth $36,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

Insider Buying and Selling

In other CDW news, insider Sona Chawla sold 18,437 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the transaction, the insider now directly owns 22,428 shares in the company, valued at approximately $5,392,812.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CDW has been the topic of several recent research reports. Stifel Nicolaus raised their price objective on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. cut their price target on CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Barclays lowered their price objective on CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Citigroup cut their target price on shares of CDW from $295.00 to $260.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Finally, Northcoast Research upgraded shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target for the company in a research report on Friday, June 7th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $251.11.

CDW Trading Down 0.2 %

Shares of NASDAQ CDW traded down $0.50 during midday trading on Monday, reaching $229.24. The stock had a trading volume of 94,725 shares, compared to its average volume of 784,816. The company’s 50 day moving average price is $226.33 and its 200 day moving average price is $234.29. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.13 and a current ratio of 1.26. CDW Co. has a twelve month low of $184.99 and a twelve month high of $263.37. The firm has a market cap of $30.81 billion, a price-to-earnings ratio of 28.68, a price-to-earnings-growth ratio of 3.39 and a beta of 1.04.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($0.15). The firm had revenue of $4.87 billion during the quarter, compared to analyst estimates of $4.94 billion. CDW had a net margin of 5.16% and a return on equity of 67.56%. As a group, sell-side analysts expect that CDW Co. will post 9.67 EPS for the current year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Friday, May 24th were given a dividend of $0.62 per share. The ex-dividend date was Thursday, May 23rd. This represents a $2.48 annualized dividend and a dividend yield of 1.08%. CDW’s payout ratio is 30.96%.

CDW Company 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.