Chesley Taft & Associates LLC Purchases 315 Shares of CDW Co. (NASDAQ:CDW)

Chesley Taft & Associates LLC grew its position in CDW Co. (NASDAQ:CDW) by 6.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,952 shares of the information technology services provider’s stock after purchasing an additional 315 shares during the quarter. Chesley Taft & Associates LLC’s holdings in CDW were worth $1,267,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CDW. Franklin Street Advisors Inc. NC bought a new position in CDW during the first quarter worth $200,000. Wealthcare Advisory Partners LLC bought a new position in CDW during the first quarter worth $1,403,000. Sunbelt Securities Inc. increased its position in CDW by 46.2% during the first quarter. Sunbelt Securities Inc. now owns 1,458 shares of the information technology services provider’s stock worth $373,000 after acquiring an additional 461 shares during the period. Atlas Capital Advisors LLC increased its position in CDW by 2.3% during the first quarter. Atlas Capital Advisors LLC now owns 3,901 shares of the information technology services provider’s stock worth $998,000 after acquiring an additional 86 shares during the period. Finally, Pensioenfonds Rail & OV bought a new position in CDW during the first quarter worth $44,711,000. Institutional investors own 93.15% of the company’s stock.

CDW Price Performance

Shares of CDW opened at $224.06 on Friday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.13 and a current ratio of 1.26. The stock has a 50 day simple moving average of $227.60 and a 200 day simple moving average of $233.59. CDW Co. has a 52-week low of $176.05 and a 52-week high of $263.37. The firm has a market capitalization of $30.11 billion, a PE ratio of 27.97, a P/E/G ratio of 3.29 and a beta of 1.06.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.15). The firm had revenue of $4.87 billion for the quarter, compared to analyst estimates of $4.94 billion. CDW had a return on equity of 67.56% and a net margin of 5.16%. Sell-side analysts predict that CDW Co. will post 9.67 EPS for the current fiscal year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Friday, May 24th were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend was Thursday, May 23rd. CDW’s payout ratio is presently 30.96%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CDW. Evercore ISI lifted their price target on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Stifel Nicolaus reduced their target price on shares of CDW from $265.00 to $250.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. JPMorgan Chase & Co. reduced their target price on shares of CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Citigroup dropped their price objective on CDW from $295.00 to $260.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Finally, Northcoast Research raised CDW from a “neutral” rating to a “buy” rating and set a $270.00 price objective for the company in a report on Friday, June 7th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $250.00.

CDW Company 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.