Valley National Advisers Inc. Acquires New Stake in CDW Co. (NASDAQ:CDW)

Valley National Advisers Inc. bought a new position in shares of CDW Co. (NASDAQ:CDW - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 8,178 shares of the information technology services provider's stock, valued at approximately $1,849,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in 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 worth $4,196,721,000 after purchasing an additional 714,393 shares during the last quarter. Mawer Investment Management Ltd. boosted its stake in shares of CDW by 0.9% during the 1st quarter. Mawer Investment Management Ltd. now owns 3,101,924 shares of the information technology services provider's stock worth $793,410,000 after buying an additional 27,753 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of CDW by 3.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,431,573 shares of the information technology services provider's stock valued at $366,168,000 after acquiring an additional 51,450 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of CDW by 11.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,292,674 shares of the information technology services provider's stock valued at $289,357,000 after acquiring an additional 128,263 shares during the last quarter. Finally, Lazard Asset Management LLC raised its holdings in CDW by 225.9% during the first quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider's stock worth $225,491,000 after acquiring an additional 611,054 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CDW. Stifel Nicolaus raised their price target on CDW from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Wednesday, July 17th. Citigroup cut shares of CDW from a "buy" rating to a "neutral" rating and decreased their target price for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Finally, Barclays dropped their price target on shares of CDW from $232.00 to $229.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $255.00.

Insider Activity

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. Corporate insiders own 0.90% of the company's stock.

CDW Stock Performance

CDW stock traded down $2.15 during mid-day trading on Friday, hitting $217.01. 981,373 shares of the company were exchanged, compared to its average volume of 814,791. 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 $221.50 and a 200-day simple moving average of $224.54. 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 $29.17 billion, a PE ratio of 27.09, a price-to-earnings-growth ratio of 3.42 and a beta of 1.03.

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

CDW Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date was Monday, August 26th. CDW's dividend payout ratio is presently 30.96%.

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.