Carnegie Capital Asset Management LLC Buys 513 Shares of CDW Co. (NASDAQ:CDW)

Carnegie Capital Asset Management LLC increased its position in CDW Co. (NASDAQ:CDWGet Rating) by 5.0% in the 1st quarter, HoldingsChannel reports. The fund owned 10,835 shares of the information technology services provider’s stock after buying an additional 513 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in CDW were worth $1,938,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CDW. Sandy Cove Advisors LLC purchased a new stake in shares of CDW in the fourth quarter worth $36,000. Blue Bell Private Wealth Management LLC purchased a new stake in shares of CDW in the fourth quarter worth $38,000. JFS Wealth Advisors LLC purchased a new stake in shares of CDW in the fourth quarter worth $76,000. Dark Forest Capital Management LP purchased a new stake in shares of CDW in the third quarter worth $91,000. Finally, Covestor Ltd purchased a new stake in shares of CDW in the fourth quarter worth $118,000. Institutional investors own 92.46% of the company’s stock.

A number of analysts have recently issued reports on the stock. Stifel Nicolaus raised shares of CDW from a “hold” rating to a “buy” rating and increased their price objective for the stock from $200.00 to $210.00 in a research note on Thursday, April 14th. StockNews.com initiated coverage on shares of CDW in a research note on Thursday, March 31st. They set a “hold” rating for the company. William Blair reaffirmed an “outperform” rating on shares of CDW in a research note on Thursday, May 5th. Finally, Morgan Stanley raised shares of CDW from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $201.00 to $214.00 in a research note on Thursday, March 31st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CDW currently has a consensus rating of “Moderate Buy” and a consensus price target of $214.83.

CDW stock opened at $159.63 on Thursday. CDW Co. has a 52 week low of $154.13 and a 52 week high of $208.71. The company has a quick ratio of 1.06, a current ratio of 1.26 and a debt-to-equity ratio of 7.29. The company has a fifty day simple moving average of $167.64 and a two-hundred day simple moving average of $179.18. The firm has a market capitalization of $21.57 billion, a P/E ratio of 22.05, a price-to-earnings-growth ratio of 1.33 and a beta of 1.11.

CDW (NASDAQ:CDWGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The information technology services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.92 by $0.20. CDW had a net margin of 4.59% and a return on equity of 129.10%. The business had revenue of $5.95 billion during the quarter, compared to analyst estimates of $5.67 billion. During the same quarter last year, the business earned $1.77 earnings per share. CDW’s quarterly revenue was up 23.0% compared to the same quarter last year. As a group, analysts anticipate that CDW Co. will post 9.17 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Wednesday, May 25th were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, May 24th. This represents a $2.00 annualized dividend and a yield of 1.25%. CDW’s dividend payout ratio (DPR) is currently 27.62%.

In other CDW news, insider Albert Joseph Miralles, Jr. acquired 1,475 shares of the stock in a transaction on Friday, May 6th. The stock was acquired at an average price of $169.90 per share, for a total transaction of $250,602.50. Following the completion of the transaction, the insider now directly owns 16,313 shares of the company’s stock, valued at $2,771,578.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.67% of the stock is owned by company insiders.

About CDW (Get Rating)

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, hybrid, and cloud capabilities across data center and networking, digital workspace, and security.

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Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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