O Shaughnessy Asset Management LLC Buys 1,490 Shares of CDW Co. (NASDAQ:CDW)

O Shaughnessy Asset Management LLC boosted its position in shares of CDW Co. (NASDAQ:CDW) by 6.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,923 shares of the information technology services provider’s stock after purchasing an additional 1,490 shares during the period. O Shaughnessy Asset Management LLC’s holdings in CDW were worth $6,119,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. UBS Group AG grew its position in CDW by 60.7% in the fourth quarter. UBS Group AG now owns 194,686 shares of the information technology services provider’s stock valued at $44,256,000 after purchasing an additional 73,503 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of CDW by 211.5% in the 1st quarter. Acadian Asset Management LLC now owns 44,205 shares of the information technology services provider’s stock valued at $11,302,000 after acquiring an additional 30,012 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of CDW by 16.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 49,011 shares of the information technology services provider’s stock valued at $11,141,000 after acquiring an additional 6,799 shares during the last quarter. Cerity Partners LLC raised its holdings in CDW by 44.9% during the fourth quarter. Cerity Partners LLC now owns 14,553 shares of the information technology services provider’s stock worth $3,308,000 after acquiring an additional 4,511 shares in the last quarter. Finally, Rafferty Asset Management LLC boosted its position in CDW by 157.3% during the fourth quarter. Rafferty Asset Management LLC now owns 90,362 shares of the information technology services provider’s stock valued at $20,541,000 after purchasing an additional 55,239 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CDW has been the topic of a number of analyst reports. Citigroup dropped their price objective on CDW from $295.00 to $260.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Stifel Nicolaus upped 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. Northcoast Research raised shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 price objective for the company in a research report on Friday, June 7th. JPMorgan Chase & Co. dropped their target price on shares of CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Finally, Barclays cut their target price on shares of CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CDW currently has an average rating of “Moderate Buy” and an average target price of $251.11.

CDW Stock Performance

CDW stock traded down $0.94 during mid-day trading on Wednesday, hitting $229.21. 997,370 shares of the company were exchanged, compared to its average volume of 789,207. CDW Co. has a 1-year low of $184.99 and a 1-year high of $263.37. The stock has a market capitalization of $30.81 billion, a PE ratio of 28.73, a price-to-earnings-growth ratio of 3.43 and a beta of 1.04. The business has a 50 day simple moving average of $226.00 and a 200-day simple moving average of $234.07. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 2.35.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.15). The firm had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $4.94 billion. CDW had a return on equity of 67.56% and a net margin of 5.16%. On average, equities analysts forecast that CDW Co. will post 9.67 earnings per share for the current year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Friday, May 24th were given a dividend of $0.62 per share. The ex-dividend date was Thursday, May 23rd. This represents a $2.48 annualized dividend and a yield of 1.08%. CDW’s dividend payout ratio is 30.96%.

Insiders Place Their Bets

In other news, insider Sona Chawla sold 18,437 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 22,428 shares of the company’s stock, valued at approximately $5,392,812.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

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.