Farther Finance Advisors LLC Raises Holdings in CDW Co. (NASDAQ:CDW)

Farther Finance Advisors LLC boosted its stake in shares of CDW Co. (NASDAQ:CDW) by 405.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,563 shares of the information technology services provider’s stock after acquiring an additional 1,254 shares during the quarter. Farther Finance Advisors LLC’s holdings in CDW were worth $343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Graypoint LLC raised its position in CDW by 6.1% during the 2nd quarter. Graypoint LLC now owns 1,758 shares of the information technology services provider’s stock valued at $394,000 after purchasing an additional 101 shares during the last quarter. Van ECK Associates Corp bought a new position in CDW during the 2nd quarter valued at approximately $4,964,000. Banque Cantonale Vaudoise bought a new position in CDW during the 2nd quarter valued at approximately $251,000. Commonwealth Equity Services LLC raised its position in CDW by 4.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 8,118 shares of the information technology services provider’s stock valued at $1,817,000 after purchasing an additional 377 shares during the last quarter. Finally, NBT Bank N A NY raised its position in CDW by 8.2% during the 2nd quarter. NBT Bank N A NY now owns 894 shares of the information technology services provider’s stock valued at $200,000 after purchasing an additional 68 shares during the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at CDW

In related news, insider Sona Chawla sold 18,437 shares of CDW stock in a transaction dated 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 completion of the transaction, the insider now owns 22,428 shares in the company, valued at $5,392,812.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Sona Chawla sold 18,437 shares of CDW stock in a transaction dated 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 completion of the transaction, the insider now owns 22,428 shares in the company, valued at $5,392,812.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christine A. Leahy bought 1,200 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were acquired at an average price of $216.15 per share, with a total value of $259,380.00. Following the transaction, the insider now directly owns 102,200 shares of the company’s stock, valued at $22,090,530. The disclosure for this purchase can be found here. Insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CDW. Barclays decreased their target price on CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. Northcoast Research raised CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price for the company in a research report on Friday, June 7th. Finally, Stifel Nicolaus increased their target price on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $254.63.

CDW Stock Performance

Shares of CDW opened at $214.48 on Thursday. The company has a market cap of $28.83 billion, a price-to-earnings ratio of 26.78, a P/E/G ratio of 3.42 and a beta of 1.04. CDW Co. has a 12 month low of $185.04 and a 12 month 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. The business’s fifty day simple moving average is $222.33 and its two-hundred day simple moving average is $232.13.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.05). CDW had a return on equity of 62.22% and a net margin of 5.29%. The company had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the prior year, the business posted $2.43 earnings per share. CDW’s revenue for the quarter was down 3.6% compared to the same quarter last year. Research analysts anticipate that CDW Co. will post 9.4 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Monday, August 26th. This represents a $2.48 dividend on an annualized basis and a yield of 1.16%. 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.