Brighton Jones LLC Invests $209,000 in CDW Co. (NASDAQ:CDW)

Brighton Jones LLC purchased a new stake in shares of CDW Co. (NASDAQ:CDW) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 925 shares of the information technology services provider’s stock, valued at approximately $209,000.

A number of other hedge funds also recently added to or reduced their stakes in CDW. International Assets Investment Management LLC purchased a new position in shares of CDW in the third quarter worth $174,040,000. Private Advisor Group LLC raised its position in CDW by 10.7% in the 3rd quarter. Private Advisor Group LLC now owns 3,708 shares of the information technology services provider’s stock worth $839,000 after buying an additional 359 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in CDW by 184.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 21,450 shares of the information technology services provider’s stock valued at $4,854,000 after acquiring an additional 13,902 shares during the period. Compass Ion Advisors LLC boosted its holdings in shares of CDW by 3.5% during the 3rd quarter. Compass Ion Advisors LLC now owns 8,294 shares of the information technology services provider’s stock valued at $1,877,000 after acquiring an additional 280 shares during the last quarter. Finally, Vest Financial LLC bought a new stake in shares of CDW in the third quarter worth approximately $206,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Price Performance

Shares of CDW stock opened at $217.01 on Friday. The stock has a market cap of $29.17 billion, a P/E ratio of 27.09, 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. The stock’s fifty day moving average is $221.50 and its 200 day moving average is $224.70. CDW Co. has a one year low of $185.04 and a one year high of $263.37.

CDW (NASDAQ:CDW) last posted its quarterly earnings data 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 company had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.43 billion. CDW had a return on equity of 62.22% and a net margin of 5.29%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period last year, the business earned $2.43 EPS. Sell-side analysts anticipate that CDW Co. will post 9.4 earnings per share for the current 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 $0.62 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.14%. CDW’s payout ratio is currently 30.96%.

Insider Transactions at CDW

In other news, insider Christine A. Leahy bought 1,200 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was bought at an average price 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 approximately $22,090,530. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.