Mediolanum International Funds Ltd Buys 2,655 Shares of CDW Co. (NASDAQ:CDW)

Mediolanum International Funds Ltd raised its position in shares of CDW Co. (NASDAQ:CDW) by 14.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,434 shares of the information technology services provider’s stock after acquiring an additional 2,655 shares during the quarter. Mediolanum International Funds Ltd’s holdings in CDW were worth $4,622,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. ORG Partners LLC purchased a new position in CDW during the 2nd quarter valued at about $34,000. Quest Partners LLC purchased a new position in shares of CDW during the second quarter valued at approximately $35,000. Summit Securities Group LLC purchased a new position in shares of CDW in the 2nd quarter worth $40,000. Continuum Advisory LLC boosted its position in 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 purchasing an additional 220 shares during the last quarter. Finally, Kimelman & Baird LLC bought a new stake in CDW during the second quarter valued at approximately $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. CDW Co. has a fifty-two week low of $185.04 and a fifty-two week high of $263.37. The stock has a market capitalization of $29.17 billion, a price-to-earnings ratio of 27.09, a PEG 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. The company has a fifty day moving average of $221.50 and a two-hundred day moving average of $224.70.

CDW (NASDAQ:CDW) last announced its quarterly earnings results 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). The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.43 billion. CDW had a net margin of 5.29% and a return on equity of 62.22%. The company’s revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.43 EPS. On average, research analysts expect that CDW Co. will post 9.4 earnings per share for the current year.

CDW Dividend Announcement

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 $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Monday, August 26th. CDW’s payout ratio is currently 30.96%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CDW shares. Stifel Nicolaus lifted their target price on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Barclays dropped their price target on shares of CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. Finally, Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $255.00.

Insider Activity

In related news, insider Christine A. Leahy bought 1,200 shares of the stock in a transaction dated Thursday, August 1st. The stock was acquired at an average price of $216.15 per share, for a total transaction of $259,380.00. Following the acquisition, the insider now owns 102,200 shares in the company, valued at approximately $22,090,530. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company 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.