Ontario Teachers Pension Plan Board Purchases 3,365 Shares of CDW Co. (NASDAQ:CDW)

Ontario Teachers Pension Plan Board boosted its stake in shares of CDW Co. (NASDAQ:CDW) by 71.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,075 shares of the information technology services provider’s stock after purchasing an additional 3,365 shares during the period. Ontario Teachers Pension Plan Board’s holdings in CDW were worth $2,065,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Acadian Asset Management LLC boosted its holdings in CDW by 211.5% during the first quarter. Acadian Asset Management LLC now owns 44,205 shares of the information technology services provider’s stock worth $11,302,000 after buying an additional 30,012 shares in the last quarter. 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 buying an additional 714,393 shares in the last quarter. Clearstead Trust LLC raised its position in CDW by 132.5% during the first quarter. Clearstead Trust LLC now owns 286 shares of the information technology services provider’s stock worth $73,000 after acquiring an additional 163 shares during the period. Pinnacle Wealth Planning Services Inc. raised its position in CDW by 13.6% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 1,525 shares of the information technology services provider’s stock worth $390,000 after acquiring an additional 183 shares during the period. Finally, M&G Plc acquired a new position in CDW during the first quarter worth $8,528,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Insider Activity at CDW

In other CDW news, insider Sona Chawla sold 18,437 shares of the firm’s 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 sale, the insider now owns 22,428 shares of the company’s stock, valued at $5,392,812.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.90% of the stock is owned by corporate insiders.

CDW Trading Down 0.6 %

CDW stock traded down $1.31 during mid-day trading on Tuesday, hitting $231.21. 6,958 shares of the company were exchanged, compared to its average volume of 784,775. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 2.35. The firm has a market capitalization of $31.07 billion, a P/E ratio of 29.03, a PEG ratio of 3.37 and a beta of 1.04. The business has a fifty day simple moving average of $225.83 and a 200-day simple moving average of $233.96. CDW Co. has a 12-month low of $184.99 and a 12-month high of $263.37.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, May 1st. The information technology services provider reported $1.89 EPS for the quarter, missing the consensus estimate of $2.04 by ($0.15). CDW had a net margin of 5.16% and a return on equity of 67.56%. The business had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $4.94 billion. On average, equities research analysts predict that CDW Co. will post 9.67 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Friday, May 24th were issued a $0.62 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $2.48 annualized dividend and a yield of 1.07%. CDW’s dividend payout ratio (DPR) is 30.96%.

Wall Street Analyst Weigh In

CDW has been the subject of a number of research analyst reports. Citigroup reduced their price objective on shares of CDW from $295.00 to $260.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Stifel Nicolaus upped 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. Northcoast Research upgraded shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 price objective for the company in a research report on Friday, June 7th. JPMorgan Chase & Co. reduced their target price on shares of CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Finally, Barclays reduced their target price on shares of CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $251.11.

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.