Cardinal Capital Management Inc. Takes $14.84 Million Position in CDW Co. (NASDAQ:CDW)

Cardinal Capital Management Inc. acquired a new stake in CDW Co. (NASDAQ:CDW - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 65,565 shares of the information technology services provider's stock, valued at approximately $14,837,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its stake in CDW by 211.5% during the 1st quarter. Acadian Asset Management LLC now owns 44,205 shares of the information technology services provider's stock worth $11,302,000 after acquiring an additional 30,012 shares during the last quarter. Insight Wealth Strategies LLC acquired a new stake in shares of CDW during the first quarter worth $3,940,000. Wealthcare Advisory Partners LLC bought a new stake in CDW in the 1st quarter valued at $1,403,000. Mediolanum International Funds Ltd bought a new position in CDW during the 1st quarter worth about $2,461,000. Finally, Meeder Asset Management Inc. raised its stake in shares of CDW by 33,447.6% in the 1st quarter. Meeder Asset Management Inc. now owns 7,045 shares of the information technology services provider's stock valued at $1,802,000 after purchasing an additional 7,024 shares during the period. Institutional investors and hedge funds own 93.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Barclays reduced their price objective on CDW from $232.00 to $229.00 and set an "equal weight" rating for the company in a research report on Thursday, August 1st. Citigroup cut shares of 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. Finally, Stifel Nicolaus boosted their price objective 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. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $255.00.

Insider Activity

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

CDW Stock Performance

CDW stock traded up $0.31 during mid-day trading on Friday, hitting $222.00. 930,885 shares of the company were exchanged, compared to its average volume of 814,457. CDW Co. has a 1-year low of $185.04 and a 1-year high of $263.37. The business has a 50 day simple moving average of $220.40 and a 200-day simple moving average of $226.94. The company has a current ratio of 1.13, a quick ratio of 1.02 and a debt-to-equity ratio of 2.03. The stock has a market capitalization of $29.84 billion, a PE ratio of 27.72, a price-to-earnings-growth ratio of 3.42 and a beta of 1.03.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 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 return on equity of 62.22% and a net margin of 5.29%. CDW's revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.43 earnings per share. On average, equities analysts forecast that CDW Co. will post 9.4 earnings per share for the current year.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 1.12%. The ex-dividend date was Monday, August 26th. CDW's dividend payout ratio is currently 30.96%.

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.