UMB Bank n.a. Boosts Holdings in CDW Co. (NASDAQ:CDW)

UMB Bank n.a. grew its stake in shares of CDW Co. (NASDAQ:CDW) by 3.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,787 shares of the information technology services provider’s stock after buying an additional 95 shares during the quarter. UMB Bank n.a.’s holdings in CDW were worth $624,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in CDW. International Assets Investment Management LLC purchased a new position in CDW in the 4th quarter worth $65,240,000. Russell Investments Group Ltd. raised its position in CDW by 35.9% in the 4th quarter. Russell Investments Group Ltd. now owns 60,057 shares of the information technology services provider’s stock worth $13,678,000 after purchasing an additional 15,856 shares during the period. Choreo LLC purchased a new position in CDW in the 4th quarter worth $1,025,000. Kestra Private Wealth Services LLC purchased a new position in CDW in the 4th quarter worth $415,000. Finally, Norden Group LLC raised its position in CDW by 63.3% in the 4th quarter. Norden Group LLC now owns 2,364 shares of the information technology services provider’s stock worth $537,000 after purchasing an additional 916 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Stifel Nicolaus lifted their target price 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. Northcoast Research raised shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target on the stock in a report on Friday, June 7th. Finally, Barclays cut their price target 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. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, CDW presently has a consensus rating of “Moderate Buy” and a consensus price target of $254.63.

Insider Activity at CDW

In related news, insider Sona Chawla sold 18,437 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the transaction, the insider now owns 22,428 shares in the company, valued at $5,392,812.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other CDW news, insider Christine A. Leahy acquired 1,200 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were acquired at an average price of $216.15 per share, for a total transaction of $259,380.00. Following the completion of the acquisition, the insider now owns 102,200 shares in the company, valued at $22,090,530. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Sona Chawla sold 18,437 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now owns 22,428 shares in the company, valued at approximately $5,392,812.60. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

CDW Price Performance

Shares of NASDAQ CDW opened at $225.64 on Friday. CDW Co. has a 1 year low of $185.04 and a 1 year high of $263.37. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.13 and a quick ratio of 1.13. The company’s 50-day moving average is $222.76 and its 200 day moving average is $232.62. The stock has a market capitalization of $30.33 billion, a P/E ratio of 28.17, a P/E/G ratio of 3.17 and a beta of 1.04.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.05). CDW had a net margin of 5.29% and a return on equity of 62.22%. The company had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter in the prior year, the firm earned $2.43 EPS. CDW’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, sell-side analysts expect that CDW Co. will post 9.6 earnings per share for the current year.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 26th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Monday, August 26th. CDW’s dividend payout ratio is currently 30.96%.

CDW 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.