Cetera Advisors LLC Increases Stock Position in CDW Co. (NASDAQ:CDW)

Cetera Advisors LLC grew its position in shares of CDW Co. (NASDAQ:CDW) by 27.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,016 shares of the information technology services provider’s stock after purchasing an additional 437 shares during the quarter. Cetera Advisors LLC’s holdings in CDW were worth $516,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. UBS Group AG boosted its stake in CDW by 60.7% during the 4th quarter. UBS Group AG now owns 194,686 shares of the information technology services provider’s stock worth $44,256,000 after purchasing an additional 73,503 shares during the period. Acadian Asset Management LLC raised its holdings in shares of CDW by 211.5% in the first quarter. Acadian Asset Management LLC now owns 44,205 shares of the information technology services provider’s stock valued at $11,302,000 after buying an additional 30,012 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of CDW by 44.9% during the fourth quarter. Cerity Partners LLC now owns 14,553 shares of the information technology services provider’s stock worth $3,308,000 after buying an additional 4,511 shares during the period. Rafferty Asset Management LLC grew its holdings in shares of CDW by 157.3% during the fourth quarter. Rafferty Asset Management LLC now owns 90,362 shares of the information technology services provider’s stock worth $20,541,000 after buying an additional 55,239 shares during the last quarter. Finally, Insight Wealth Strategies LLC acquired a new position in CDW in the 1st quarter valued at about $3,940,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at CDW

In other CDW news, insider Christine A. Leahy acquired 1,200 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was acquired at an average cost of $216.15 per share, with a total value of $259,380.00. Following the purchase, the insider now directly owns 102,200 shares in the company, valued at approximately $22,090,530. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Christine A. Leahy purchased 1,200 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were bought at an average cost of $216.15 per share, with a total value of $259,380.00. Following the purchase, the insider now directly owns 102,200 shares of the company’s stock, valued at $22,090,530. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sona Chawla sold 18,437 shares of the stock in a transaction on 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 transaction, the insider now directly owns 22,428 shares in the company, valued at approximately $5,392,812.60. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CDW shares. JPMorgan Chase & Co. lowered their target price on CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Northcoast Research upgraded 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. Stifel Nicolaus raised their target price 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. Barclays dropped 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. Finally, Citigroup reduced their price objective 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. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, CDW presently has a consensus rating of “Moderate Buy” and a consensus target price of $254.63.

CDW Trading Down 0.8 %

Shares of CDW opened at $212.10 on Tuesday. CDW Co. has a twelve month low of $185.04 and a twelve month high of $263.37. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.03. The firm has a market capitalization of $28.51 billion, a P/E ratio of 26.48, a PEG ratio of 3.17 and a beta of 1.04. The firm’s 50-day moving average is $223.59 and its two-hundred day moving average is $233.66.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.39 by ($0.05). The firm had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.43 billion. CDW had a net margin of 5.29% and a return on equity of 62.22%. The business’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 earned $2.43 earnings per share. On average, research analysts predict that CDW Co. will post 9.6 earnings per share for the current fiscal year.

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 26th will be given a $0.62 dividend. The ex-dividend date of this dividend is Monday, August 26th. This represents a $2.48 annualized dividend and a dividend yield of 1.17%. CDW’s dividend payout ratio is presently 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.