CDW Co. (NASDAQ:CDW) Position Boosted by Janus Henderson Group PLC

Janus Henderson Group PLC lifted its stake in CDW Co. (NASDAQ:CDW) by 4.1% in the first quarter, Holdings Channel.com reports. The firm owned 301,957 shares of the information technology services provider’s stock after acquiring an additional 11,861 shares during the quarter. Janus Henderson Group PLC’s holdings in CDW were worth $77,211,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Wellington Management Group LLP raised its stake in shares of CDW by 29.1% during the 4th quarter. Wellington Management Group LLP now owns 3,464,886 shares of the information technology services provider’s stock worth $787,638,000 after purchasing an additional 781,421 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of CDW by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider’s stock valued at $4,196,721,000 after purchasing an additional 714,393 shares in the last quarter. Lazard Asset Management LLC lifted its stake in shares of CDW by 225.9% in the 1st quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider’s stock valued at $225,491,000 after purchasing an additional 611,054 shares during the last quarter. First Trust Advisors LP boosted its holdings in CDW by 627.3% in the fourth quarter. First Trust Advisors LP now owns 625,781 shares of the information technology services provider’s stock worth $142,252,000 after purchasing an additional 539,745 shares in the last quarter. Finally, Norges Bank acquired a new position in CDW during the fourth quarter worth $111,736,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CDW

In other news, insider Sona Chawla sold 18,437 shares of CDW stock in a transaction 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 directly 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 SEC, which is available at the SEC website. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CDW shares. Barclays reduced their target price on CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Citigroup cut their target price 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. JPMorgan Chase & Co. cut their price objective on CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Stifel Nicolaus raised their price target 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. Finally, Northcoast Research raised 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. Three equities research 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $251.11.

CDW Price Performance

Shares of NASDAQ:CDW traded down $13.44 during midday trading on Wednesday, reaching $219.03. The company’s stock had a trading volume of 710,520 shares, compared to its average volume of 793,562. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.26 and a quick ratio of 1.13. The company has a market capitalization of $29.44 billion, a P/E ratio of 27.31, a P/E/G ratio of 3.41 and a beta of 1.04. CDW Co. has a fifty-two week low of $184.99 and a fifty-two week high of $263.37. The business’s fifty day simple moving average is $226.43 and its 200-day simple moving average is $234.46.

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

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 26th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 1.13%. CDW’s payout ratio is 30.96%.

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.