Mawer Investment Management Ltd. Acquires 964 Shares of CDW Co. (NASDAQ:CDW)

Mawer Investment Management Ltd. lifted its position in shares of CDW Co. (NASDAQ:CDW) by 0.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 3,102,888 shares of the information technology services provider’s stock after buying an additional 964 shares during the period. CDW accounts for approximately 3.3% of Mawer Investment Management Ltd.’s portfolio, making the stock its 9th largest holding. Mawer Investment Management Ltd. owned approximately 2.31% of CDW worth $694,550,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CDW. Benjamin F. Edwards & Company Inc. lifted its stake in shares of CDW by 156.4% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 382 shares of the information technology services provider’s stock valued at $87,000 after buying an additional 233 shares during the period. Principal Securities Inc. purchased a new position in shares of CDW during the fourth quarter valued at approximately $392,000. Teacher Retirement System of Texas raised its stake in CDW by 60.4% during the fourth quarter. Teacher Retirement System of Texas now owns 17,687 shares of the information technology services provider’s stock worth $4,021,000 after purchasing an additional 6,659 shares during the period. Cary Street Partners Investment Advisory LLC raised its stake in CDW by 570.6% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 1,891 shares of the information technology services provider’s stock worth $430,000 after purchasing an additional 1,609 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in CDW by 3.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,135,792 shares of the information technology services provider’s stock worth $258,196,000 after purchasing an additional 33,235 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CDW. Northcoast Research raised shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target on the stock in a research note on Friday, June 7th. Stifel Nicolaus increased their price target on shares of CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Finally, Barclays cut their price target on shares of CDW from $232.00 to $229.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $254.63.

Insider Activity at CDW

In other CDW news, insider Sona Chawla sold 18,437 shares of the firm’s 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 completion of the transaction, the insider now directly owns 22,428 shares of the company’s stock, valued at approximately $5,392,812.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Sona Chawla sold 18,437 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $240.45, for a total value of $4,433,176.65. Following the transaction, the insider now directly owns 22,428 shares in the company, valued at approximately $5,392,812.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Christine A. Leahy purchased 1,200 shares of CDW 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 completion of the transaction, the insider now owns 102,200 shares in the company, valued at approximately $22,090,530. The disclosure for this purchase can be found here. Company insiders own 0.90% of the company’s stock.

CDW Stock Performance

Shares of CDW stock opened at $214.14 on Tuesday. The company’s fifty day simple moving average is $221.81 and its 200-day simple moving average is $231.43. The company has a market cap of $28.60 billion, a PE ratio of 26.73, a P/E/G ratio of 3.22 and a beta of 1.04. CDW Co. has a 52 week low of $185.04 and a 52 week high of $263.37. The company has a current ratio of 1.13, a quick ratio of 1.02 and a debt-to-equity ratio of 2.03.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates 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%. CDW’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.43 earnings per share. As a group, equities research analysts anticipate that CDW Co. will post 9.4 EPS for the current year.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 26th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Monday, August 26th. CDW’s payout ratio is 30.96%.

About CDW

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.