Carnegie Investment Counsel Buys 80 Shares of CDW Co. (NASDAQ:CDW)

Carnegie Investment Counsel boosted its stake in CDW Co. (NASDAQ:CDW) by 1.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,674 shares of the information technology services provider’s stock after purchasing an additional 80 shares during the quarter. Carnegie Investment Counsel’s holdings in CDW were worth $1,058,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tsfg LLC bought a new stake in shares of CDW in the 1st quarter valued at approximately $26,000. Rise Advisors LLC bought a new stake in CDW in the first quarter worth $34,000. ORG Partners LLC purchased a new position in CDW during the second quarter worth $34,000. Quest Partners LLC bought a new position in CDW during the second quarter valued at $35,000. Finally, Summit Securities Group LLC purchased a new stake in shares of CDW in the second quarter valued at $40,000. Institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

CDW has been the topic of several analyst reports. Stifel Nicolaus upped their price target on shares of CDW from $250.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Barclays cut their target price on CDW from $232.00 to $229.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. Finally, Citigroup lowered CDW from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $255.00.

CDW Stock Up 0.7 %

Shares of NASDAQ:CDW opened at $223.48 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 2.03. The business’s 50 day moving average is $220.74 and its 200 day moving average is $226.71. The stock has a market cap of $30.04 billion, a P/E ratio of 27.90, a price-to-earnings-growth ratio of 3.42 and a beta of 1.03. CDW Co. has a 52-week low of $185.04 and a 52-week high of $263.37.

CDW (NASDAQ:CDW) last announced 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). CDW had a net margin of 5.29% and a return on equity of 62.22%. The firm 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 business posted $2.43 EPS. The business’s quarterly revenue was down 3.6% on a year-over-year basis. Sell-side analysts predict that CDW Co. will post 9.4 EPS for the current year.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were given a $0.62 dividend. The ex-dividend date was Monday, August 26th. This represents a $2.48 annualized dividend and a dividend yield of 1.11%. CDW’s payout ratio is presently 30.96%.

Insider Activity

In other CDW news, insider Christine A. Leahy acquired 1,200 shares of CDW 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 completion of the purchase, the insider now directly 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.90% of the company’s stock.

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.