Acadian Asset Management LLC Purchases 30,012 Shares of CDW Co. (NASDAQ:CDW)

Acadian Asset Management LLC boosted its position in CDW Co. (NASDAQ:CDW - Free Report) by 211.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 44,205 shares of the information technology services provider's stock after acquiring an additional 30,012 shares during the period. Acadian Asset Management LLC's holdings in CDW were worth $11,302,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of CDW by 4.6% during the first quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider's stock valued at $4,196,721,000 after buying an additional 714,393 shares during the period. Clearstead Trust LLC boosted its holdings in CDW by 132.5% in the first quarter. Clearstead Trust LLC now owns 286 shares of the information technology services provider's stock valued at $73,000 after acquiring an additional 163 shares in the last quarter. Pinnacle Wealth Planning Services Inc. increased its position in CDW by 13.6% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 1,525 shares of the information technology services provider's stock valued at $390,000 after purchasing an additional 183 shares during the period. M&G Plc bought a new position in CDW in the 1st quarter worth $8,528,000. Finally, Orion Portfolio Solutions LLC lifted its position in shares of CDW by 6.5% in the 1st quarter. Orion Portfolio Solutions LLC now owns 6,185 shares of the information technology services provider's stock worth $1,582,000 after purchasing an additional 377 shares during the period. Hedge funds and other institutional investors own 93.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CDW. Stifel Nicolaus boosted their price target on shares of CDW from $250.00 to $260.00 and gave the company a "buy" rating in a research report on Wednesday. Citigroup reduced their target price on CDW from $295.00 to $260.00 and set a "buy" rating on the stock in a report on Thursday, May 2nd. Northcoast Research upgraded CDW from a "neutral" rating to a "buy" rating and set a $270.00 target price for the company in a research note on Friday, June 7th. JPMorgan Chase & Co. dropped their price target on CDW from $280.00 to $265.00 and set an "overweight" rating on the stock in a research report on Thursday, May 2nd. Finally, Barclays cut their price objective on shares of CDW from $261.00 to $232.00 and set an "equal weight" rating on the stock in a report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $251.11.

Insider Transactions at CDW

In related news, insider Sona Chawla sold 18,437 shares of the stock in a transaction on 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 sale, the insider now directly owns 22,428 shares of the company's stock, valued at $5,392,812.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.90% of the company's stock.

CDW Stock Down 2.1 %

NASDAQ:CDW traded down $4.86 on Friday, reaching $228.84. 645,257 shares of the stock traded hands, compared to its average volume of 1,016,627. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 2.35. The company has a market capitalization of $30.76 billion, a price-to-earnings ratio of 28.57, a PEG ratio of 3.37 and a beta of 1.04. CDW Co. has a 12 month low of $184.99 and a 12 month high of $263.37. The company's fifty day simple moving average is $225.62 and its 200 day simple moving average is $233.84.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 EPS for the quarter, missing analysts' consensus estimates of $2.04 by ($0.15). CDW had a net margin of 5.16% and a return on equity of 67.56%. The firm had revenue of $4.87 billion for the quarter, compared to analysts' expectations of $4.94 billion. Equities analysts predict that CDW Co. will post 9.67 EPS for the current fiscal year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Thursday, May 23rd. CDW's payout ratio 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.

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