Creative Planning Boosts Stock Position in CDW Co. (NASDAQ:CDW)

Creative Planning grew its stake in shares of CDW Co. (NASDAQ:CDW) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,255 shares of the information technology services provider’s stock after acquiring an additional 297 shares during the period. Creative Planning’s holdings in CDW were worth $3,226,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Quest Partners LLC purchased a new stake in shares of CDW in the second quarter worth $35,000. ORG Partners LLC purchased a new stake in shares of CDW in the second quarter worth $34,000. Summit Securities Group LLC purchased a new stake in shares of CDW in the second quarter worth $40,000. Continuum Advisory LLC raised its position in shares of CDW by 1,692.3% in the second quarter. Continuum Advisory LLC now owns 233 shares of the information technology services provider’s stock worth $52,000 after buying an additional 220 shares in the last quarter. Finally, Kimelman & Baird LLC purchased a new stake in shares of CDW in the second quarter worth $56,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Down 1.0 %

CDW opened at $217.01 on Friday. The stock has a market cap of $29.17 billion, a PE ratio of 27.09, a P/E/G ratio of 3.42 and a beta of 1.03. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 2.03. CDW Co. has a 52 week low of $185.04 and a 52 week high of $263.37. The business’s fifty day simple moving average is $221.50 and its 200 day simple moving average is $224.70.

CDW (NASDAQ:CDW) last announced its quarterly earnings data 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). CDW had a net margin of 5.29% and a return on equity of 62.22%. The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same period last year, the business posted $2.43 earnings per share. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. As a group, research analysts expect that CDW Co. will post 9.4 earnings per share for the current fiscal 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 of this dividend was Monday, August 26th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.14%. CDW’s dividend payout ratio (DPR) is currently 30.96%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Stifel Nicolaus increased their price objective on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Finally, Barclays reduced their target price on 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 four have issued a buy rating to the company’s stock. According to data from MarketBeat, CDW has a consensus rating of “Moderate Buy” and an average price target of $255.00.

Insider Activity

In related news, insider Christine A. Leahy acquired 1,200 shares of CDW stock in a transaction dated Thursday, August 1st. The shares were purchased at an average cost of $216.15 per share, with a total value of $259,380.00. Following the completion of the purchase, the insider now owns 102,200 shares of the company’s stock, valued at $22,090,530. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.90% of the company’s stock.

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.