NBC Securities Inc. Decreases Stock Position in CDW Co. (NASDAQ:CDW)

NBC Securities Inc. lessened its stake in shares of CDW Co. (NASDAQ:CDW) by 21.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,507 shares of the information technology services provider’s stock after selling 1,205 shares during the period. NBC Securities Inc.’s holdings in CDW were worth $1,019,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Tsfg LLC purchased a new stake in CDW in the first quarter worth $26,000. Rise Advisors LLC purchased a new stake in CDW in the first quarter worth $34,000. ORG Partners LLC purchased a new stake in CDW in the second quarter worth $34,000. Quest Partners LLC purchased a new stake in CDW in the second quarter worth $35,000. Finally, Summit Securities Group LLC purchased a new stake in CDW in the second quarter worth $40,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on CDW shares. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Stifel Nicolaus raised their price target on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, Barclays cut their price target on 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 analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, CDW presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.00.

Insider Transactions at CDW

In other CDW news, insider Christine A. Leahy purchased 1,200 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were acquired at an average price of $216.15 per share, for a total transaction of $259,380.00. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.90% of the company’s stock.

CDW Price Performance

Shares of CDW stock opened at $220.16 on Thursday. CDW Co. has a 1-year low of $185.04 and a 1-year high of $263.37. The stock’s 50-day moving average is $221.19 and its 200 day moving average is $226.42. The company has a market cap of $29.59 billion, a P/E ratio of 27.49, a PEG ratio of 3.42 and a beta of 1.03. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.13 and a quick ratio of 1.02.

CDW (NASDAQ:CDW) last issued its quarterly earnings data 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). CDW had a net margin of 5.29% and a return on equity of 62.22%. The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the previous year, the business earned $2.43 EPS. CDW’s revenue for the quarter was down 3.6% compared to the same quarter last year. Research analysts predict that CDW Co. will post 9.4 earnings per share for the current fiscal year.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were paid a dividend of $0.62 per share. The ex-dividend date was Monday, August 26th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.13%. CDW’s payout ratio is 30.96%.

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.