JGP Wealth Management LLC Increases Holdings in CDW Co. (NASDAQ:CDW)

JGP Wealth Management LLC raised its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 5.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 48,799 shares of the information technology services provider's stock after acquiring an additional 2,604 shares during the quarter. CDW makes up about 1.4% of JGP Wealth Management LLC's portfolio, making the stock its 26th largest holding. JGP Wealth Management LLC's holdings in CDW were worth $11,043,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Grayhawk Investment Strategies Inc. bought a new stake in CDW during the fourth quarter valued at $854,000. GLOBALT Investments LLC GA acquired a new stake in CDW in the fourth quarter worth $4,379,000. Scarborough Advisors LLC bought a new stake in CDW in the fourth quarter valued at $491,000. Neo Ivy Capital Management acquired a new position in shares of CDW during the fourth quarter valued at about $89,000. Finally, Teachers Retirement System of The State of Kentucky boosted its position in shares of CDW by 7.5% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 135,232 shares of the information technology services provider's stock worth $30,741,000 after purchasing an additional 9,489 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Price Performance

NASDAQ CDW traded up $0.31 on Friday, hitting $222.00. The stock had a trading volume of 930,883 shares, compared to its average volume of 814,457. The firm has a 50-day moving average of $220.16 and a 200-day moving average of $227.57. The company has a market capitalization of $29.65 billion, a price-to-earnings ratio of 27.17, a price-to-earnings-growth ratio of 3.42 and a beta of 1.03. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.02 and a current ratio of 1.13. CDW Co. has a 52-week low of $185.04 and a 52-week high of $263.37.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.39 by ($0.05). The business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.43 billion. CDW had a net margin of 5.29% and a return on equity of 62.22%. The business's revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.43 EPS. Equities analysts expect that CDW Co. will post 9.4 EPS for the current year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were paid a dividend of $0.62 per share. The ex-dividend date was Monday, August 26th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.12%. CDW's dividend payout ratio (DPR) is currently 30.39%.

Analysts Set New Price Targets

Several analysts recently issued reports on CDW shares. Citigroup downgraded shares of CDW from a "buy" rating to a "neutral" rating and reduced their price target for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Stifel Nicolaus raised their price objective on CDW from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Wednesday, July 17th. 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 equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $255.00.

Insider Activity

In other news, insider Christine A. Leahy purchased 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, with a total value of $259,380.00. Following the acquisition, the insider now directly owns 102,200 shares in the company, valued at approximately $22,090,530. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Christine A. Leahy acquired 1,200 shares of CDW stock in a transaction on Thursday, August 1st. The shares were acquired at an average cost of $216.15 per share, with a total value of $259,380.00. Following the transaction, the insider now owns 102,200 shares in the company, valued at $22,090,530. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sona Chawla sold 18,437 shares of the firm'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 directly owns 22,428 shares of the company's stock, valued at approximately $5,392,812.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate 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.