Austin Asset Management Co Inc Makes New Investment in CDW Co. (NASDAQ:CDW)

Austin Asset Management Co Inc purchased a new stake in CDW Co. (NASDAQ:CDW - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 28,600 shares of the information technology services provider's stock, valued at approximately $6,402,000. CDW accounts for about 1.4% of Austin Asset Management Co Inc's investment portfolio, making the stock its 14th biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of CDW. UBS Group AG grew its position in CDW by 60.7% in the 4th quarter. UBS Group AG now owns 194,686 shares of the information technology services provider's stock worth $44,256,000 after purchasing an additional 73,503 shares during the last quarter. Acadian Asset Management LLC increased its stake in CDW by 211.5% during the first 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 during the period. Rafferty Asset Management LLC raised its holdings in CDW by 157.3% in the 4th quarter. Rafferty Asset Management LLC now owns 90,362 shares of the information technology services provider's stock valued at $20,541,000 after acquiring an additional 55,239 shares in the last quarter. Insight Wealth Strategies LLC bought a new stake in shares of CDW in the 1st quarter worth approximately $3,940,000. Finally, Madison Asset Management LLC lifted its position in shares of CDW by 2.8% in the 4th quarter. Madison Asset Management LLC now owns 374,505 shares of the information technology services provider's stock worth $85,132,000 after acquiring an additional 10,183 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Price Performance

CDW stock traded up $6.25 during trading on Thursday, hitting $227.87. 642,980 shares of the stock traded hands, compared to its average volume of 823,314. The stock has a market cap of $30.63 billion, a price-to-earnings ratio of 27.67, a P/E/G ratio of 3.27 and a beta of 1.04. The company has a 50 day simple moving average of $222.10 and a 200 day simple moving average of $230.24. The company has a current ratio of 1.13, a quick ratio of 1.02 and a debt-to-equity ratio of 2.03. CDW Co. has a one year low of $185.04 and a one year high of $263.37.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter in the previous year, the firm posted $2.43 EPS. The company's revenue for the quarter was down 3.6% compared to the same quarter last year. Equities analysts expect that CDW Co. will post 9.4 EPS for the current fiscal year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were paid a $0.62 dividend. The ex-dividend date was Monday, August 26th. This represents a $2.48 annualized dividend and a dividend yield of 1.09%. CDW's dividend payout ratio (DPR) is currently 30.96%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CDW shares. Stifel Nicolaus upped their target price on CDW from $250.00 to $260.00 and gave the company a "buy" rating in a research note 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 report on Friday, June 7th. Finally, Barclays lowered their target price on shares of CDW from $232.00 to $229.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $254.63.

Insider Activity

In other news, insider Sona Chawla sold 18,437 shares of the firm's stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $240.45, for a total value of $4,433,176.65. Following the transaction, 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 Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Christine A. Leahy acquired 1,200 shares of the company's stock in a transaction that occurred on Thursday, August 1st. The stock was 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 of the company's stock, valued at approximately $22,090,530. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sona Chawla sold 18,437 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $240.45, for a total value of $4,433,176.65. Following the completion of the transaction, the insider now directly 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 currently owned by insiders.

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.