Walter Public Investments Inc. Makes New Investment in CDW Co. (NASDAQ:CDW)

Walter Public Investments Inc. purchased a new position in shares of CDW Co. (NASDAQ:CDW) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,560 shares of the information technology services provider’s stock, valued at approximately $579,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV raised its position in shares of CDW by 5.9% in the first quarter. Massmutual Trust Co. FSB ADV now owns 767 shares of the information technology services provider’s stock valued at $196,000 after purchasing an additional 43 shares during the period. RDA Financial Network raised its position in shares of CDW by 3.0% in the second quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider’s stock valued at $355,000 after purchasing an additional 46 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its position in shares of CDW by 1.4% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,446 shares of the information technology services provider’s stock valued at $881,000 after purchasing an additional 47 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of CDW by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 11,541 shares of the information technology services provider’s stock valued at $2,583,000 after purchasing an additional 54 shares during the period. Finally, Smithfield Trust Co raised its position in shares of CDW by 4.1% in the first quarter. Smithfield Trust Co now owns 1,434 shares of the information technology services provider’s stock valued at $367,000 after purchasing an additional 57 shares during the period. 93.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Barclays dropped their price objective on shares of CDW from $232.00 to $229.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Finally, Stifel Nicolaus raised their price target on shares of CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $255.00.

CDW Price Performance

NASDAQ:CDW opened at $220.16 on Thursday. The firm has a market cap of $29.59 billion, a price-to-earnings ratio of 27.49, a P/E/G ratio of 3.42 and a beta of 1.03. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.02 and a current ratio of 1.13. CDW Co. has a 52 week low of $185.04 and a 52 week high of $263.37. The firm’s 50-day simple moving average is $221.19 and its 200 day simple moving average is $226.42.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.05). The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.43 billion. CDW had a return on equity of 62.22% and a net margin of 5.29%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.43 earnings per share. As a group, sell-side analysts predict that CDW Co. will post 9.4 earnings per share for the current year.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.48 dividend on an annualized basis and a yield of 1.13%. CDW’s payout ratio is 30.96%.

Insiders Place Their Bets

In related news, insider Christine A. Leahy purchased 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were bought at an average cost of $216.15 per share, with a total value of $259,380.00. Following the acquisition, the insider now owns 102,200 shares of the company’s stock, valued at $22,090,530. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

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.