Cabot Wealth Management Inc. Sells 351 Shares of CDW Co. (NASDAQ:CDW)

Cabot Wealth Management Inc. lowered its stake in CDW Co. (NASDAQ:CDW) by 0.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,364 shares of the information technology services provider’s stock after selling 351 shares during the quarter. CDW accounts for approximately 1.9% of Cabot Wealth Management Inc.’s portfolio, making the stock its 15th largest position. Cabot Wealth Management Inc. owned approximately 0.05% of CDW worth $15,471,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its position in CDW by 4.6% in 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 during the period. Mawer Investment Management Ltd. grew its position in CDW by 0.9% in the 1st quarter. Mawer Investment Management Ltd. now owns 3,101,924 shares of the information technology services provider’s stock valued at $793,410,000 after purchasing an additional 27,753 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in CDW by 3.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,431,573 shares of the information technology services provider’s stock valued at $366,168,000 after purchasing an additional 51,450 shares during the period. Dimensional Fund Advisors LP grew its position in CDW by 11.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,292,674 shares of the information technology services provider’s stock valued at $289,357,000 after purchasing an additional 128,263 shares during the period. Finally, Lazard Asset Management LLC grew its position in 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 period. Institutional investors own 93.15% of the company’s stock.

Insider Buying and Selling

In other news, insider Christine A. Leahy acquired 1,200 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were acquired at an average cost of $216.15 per share, for a total transaction of $259,380.00. Following the purchase, the insider now owns 102,200 shares of the company’s stock, valued at approximately $22,090,530. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CDW. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and reduced their price target for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Barclays cut their price objective on shares of CDW from $232.00 to $229.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. Finally, Stifel Nicolaus lifted their price objective 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 four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $255.00.

CDW Stock Down 1.5 %

CDW traded down $3.35 during mid-day trading on Tuesday, reaching $220.13. 959,469 shares of the stock were exchanged, compared to its average volume of 814,801. The company has a 50 day moving average price of $220.74 and a two-hundred day moving average price of $226.71. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.02 and a current ratio of 1.13. The stock has a market capitalization of $29.59 billion, a PE ratio of 27.63, a price-to-earnings-growth ratio of 3.42 and a beta of 1.03. CDW Co. has a 1 year low of $185.04 and a 1 year high of $263.37.

CDW (NASDAQ:CDW) last issued 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 company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.43 billion. CDW had a return on equity of 62.22% and a net margin of 5.29%. CDW’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period last year, the firm posted $2.43 earnings per share. As a group, research analysts anticipate that CDW Co. will post 9.4 EPS for the current year.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend was Monday, August 26th. CDW’s dividend payout ratio (DPR) is currently 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.