Thoroughbred Financial Services LLC Buys New Position in CDW Co. (NASDAQ:CDW)

Thoroughbred Financial Services LLC bought a new stake in shares of CDW Co. (NASDAQ:CDW) in the second quarter, Holdings Channel reports. The firm bought 5,196 shares of the information technology services provider’s stock, valued at approximately $1,163,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tsfg LLC purchased a new position in CDW during the 1st quarter valued at about $26,000. Rise Advisors LLC purchased a new position in CDW during the 1st quarter valued at about $34,000. ORG Partners LLC acquired a new stake in CDW in the 2nd quarter valued at about $34,000. Quest Partners LLC acquired a new stake in CDW in the 2nd quarter valued at about $35,000. Finally, Summit Securities Group LLC acquired a new stake in CDW in the 2nd quarter valued at about $40,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Christine A. Leahy purchased 1,200 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were bought at an average price of $216.15 per share, with a total value of $259,380.00. Following the completion of the transaction, the insider now directly owns 102,200 shares in the company, valued at approximately $22,090,530. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other CDW news, insider Sona Chawla sold 18,437 shares of CDW stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christine A. Leahy bought 1,200 shares of the stock in a transaction on Thursday, August 1st. The stock was bought at an average price of $216.15 per share, for a total transaction of $259,380.00. Following the completion of the purchase, the insider now directly owns 102,200 shares in the company, valued at approximately $22,090,530. The disclosure for this purchase can be found here. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CDW. Stifel Nicolaus increased their price target on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Barclays reduced their price target on CDW from $232.00 to $229.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Finally, Northcoast Research raised CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target on the stock in a research report on Friday, June 7th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $254.63.

CDW Price Performance

Shares of NASDAQ CDW opened at $220.15 on Monday. 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 fifty-two week low of $185.04 and a fifty-two week high of $263.37. The firm has a market capitalization of $29.41 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 3.27 and a beta of 1.04. The stock’s 50-day simple moving average is $221.79 and its 200-day simple moving average is $230.65.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 EPS for the quarter, missing the consensus estimate 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 period last year, the firm earned $2.43 EPS. As a group, equities research analysts forecast that CDW Co. will post 9.4 EPS for the current fiscal year.

CDW Announces Dividend

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