Proficio Capital Partners LLC increased its position in CDW Co. (NASDAQ:CDW – Free Report) by 20,470.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 787,838 shares of the information technology services provider’s stock after acquiring an additional 784,008 shares during the quarter. Proficio Capital Partners LLC owned about 0.58% of CDW worth $788,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CDW. CENTRAL TRUST Co increased its stake in shares of CDW by 1.1% in the first quarter. CENTRAL TRUST Co now owns 13,620 shares of the information technology services provider’s stock worth $2,654,000 after purchasing an additional 152 shares in the last quarter. Empirical Asset Management LLC bought a new stake in CDW during the 1st quarter valued at $657,000. MCF Advisors LLC lifted its position in shares of CDW by 36.6% during the first quarter. MCF Advisors LLC now owns 403 shares of the information technology services provider’s stock worth $79,000 after acquiring an additional 108 shares in the last quarter. Xponance Inc. boosted its holdings in shares of CDW by 2.6% in the first quarter. Xponance Inc. now owns 31,384 shares of the information technology services provider’s stock worth $6,116,000 after acquiring an additional 797 shares during the period. Finally, ETF Managers Group LLC grew its position in shares of CDW by 1.5% in the first quarter. ETF Managers Group LLC now owns 4,059 shares of the information technology services provider’s stock valued at $791,000 after purchasing an additional 60 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors.
CDW Price Performance
Shares of NASDAQ CDW traded up $0.92 during mid-day trading on Thursday, reaching $178.40. 361,268 shares of the company were exchanged, compared to its average volume of 902,644. CDW Co. has a 52 week low of $147.91 and a 52 week high of $215.00. The company’s 50 day moving average price is $171.53 and its 200 day moving average price is $185.27. The stock has a market capitalization of $24.05 billion, a PE ratio of 22.24, a PEG ratio of 1.49 and a beta of 1.10. The company has a quick ratio of 1.15, a current ratio of 1.31 and a debt-to-equity ratio of 3.66.
CDW (NASDAQ:CDW – Free Report) last issued its quarterly earnings results on Wednesday, May 3rd. The information technology services provider reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.08. The firm had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.10 billion. CDW had a return on equity of 90.20% and a net margin of 4.78%. Sell-side analysts forecast that CDW Co. will post 9.05 earnings per share for the current fiscal year.
CDW Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 13th. Shareholders of record on Thursday, May 25th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date was Wednesday, May 24th. CDW’s payout ratio is currently 29.57%.
Insiders Place Their Bets
In other CDW news, insider Christine A. Leahy purchased 3,050 shares of the business’s stock in a transaction on Thursday, May 4th. The stock was acquired at an average cost of $163.62 per share, for a total transaction of $499,041.00. Following the completion of the transaction, the insider now directly owns 68,622 shares in the company, valued at approximately $11,227,931.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.85% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on CDW shares. Bank of America dropped their price objective on CDW from $200.00 to $185.00 in a report on Thursday, May 4th. JPMorgan Chase & Co. cut their price objective on shares of CDW from $225.00 to $205.00 and set an “overweight” rating for the company in a research report on Wednesday, April 19th. StockNews.com initiated coverage on shares of CDW in a report on Thursday, May 18th. They set a “hold” rating on the stock. Morgan Stanley cut their price target on shares of CDW from $228.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, April 19th. Finally, Credit Suisse Group decreased their price target on shares of CDW from $195.00 to $190.00 in a report on Thursday, May 4th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $205.00.
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, hybrid, and cloud capabilities across hybrid infrastructure, digital experience, and security.