Johnson Investment Counsel Inc. Raises Stake in CDW Co. (NASDAQ:CDW)

Johnson Investment Counsel Inc. boosted its holdings in shares of CDW Co. (NASDAQ:CDW) by 28.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,655 shares of the information technology services provider’s stock after acquiring an additional 592 shares during the period. Johnson Investment Counsel Inc.’s holdings in CDW were worth $594,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CDW. Tsfg LLC purchased a new position in CDW during the 1st quarter valued at about $26,000. Rise Advisors LLC purchased a new position in CDW in the first quarter worth about $34,000. ORG Partners LLC purchased a new position in CDW in the second quarter worth about $34,000. Quest Partners LLC purchased a new position in CDW in the second quarter worth about $35,000. Finally, Summit Securities Group LLC purchased a new position in CDW in the second quarter worth about $40,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CDW

In other CDW news, insider Sona Chawla sold 18,437 shares of CDW 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 transaction, the insider now owns 22,428 shares of the company’s stock, valued at $5,392,812.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Christine A. Leahy acquired 1,200 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was purchased at an average price of $216.15 per share, for a total transaction of $259,380.00. Following the completion of the transaction, the insider now directly owns 102,200 shares in the company, valued at approximately $22,090,530. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, insider Sona Chawla sold 18,437 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total value of $4,433,176.65. Following the completion of the sale, the insider now owns 22,428 shares in the company, valued at $5,392,812.60. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

CDW Stock Performance

Shares of CDW stock opened at $220.15 on Friday. The company has a 50 day moving average price of $221.79 and a 200-day moving average price of $230.75. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 2.03. The firm has a market capitalization of $29.41 billion, a PE ratio of 27.48, a P/E/G ratio of 3.27 and a beta of 1.04. CDW Co. has a 52 week low of $185.04 and a 52 week high of $263.37.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.05). The business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.43 billion. CDW had a net margin of 5.29% and a return on equity of 62.22%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.43 earnings per share. As a group, equities research analysts expect that CDW Co. will post 9.4 earnings per share for the current year.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Monday, August 26th. CDW’s dividend payout ratio is currently 30.96%.

Wall Street Analysts Forecast Growth

CDW has been the subject of several recent analyst reports. Barclays decreased their target price on shares of CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. Northcoast Research raised shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price for the company in a report on Friday, June 7th. Finally, Stifel Nicolaus lifted their target price on shares of CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, CDW presently has a consensus rating of “Moderate Buy” and a consensus target price of $254.63.

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.