Rhumbline Advisers Has $65.14 Million Position in CDW Co. (NASDAQ:CDW)

Rhumbline Advisers cut its holdings in CDW Co. (NASDAQ:CDW) by 1.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 291,021 shares of the information technology services provider’s stock after selling 5,754 shares during the period. Rhumbline Advisers owned approximately 0.22% of CDW worth $65,142,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tsfg LLC acquired a new stake in CDW in the first quarter worth $26,000. Rise Advisors LLC acquired a new stake in shares of CDW in the 1st quarter valued at about $34,000. ORG Partners LLC bought a new stake in CDW in the 2nd quarter valued at about $34,000. Summit Securities Group LLC acquired a new position in CDW during the 2nd quarter worth approximately $40,000. Finally, Continuum Advisory LLC grew its stake in CDW by 1,692.3% in the second quarter. Continuum Advisory LLC now owns 233 shares of the information technology services provider’s stock valued at $52,000 after acquiring an additional 220 shares during the period. 93.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at CDW

In related news, insider Sona Chawla sold 18,437 shares of CDW stock in a transaction that occurred on 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 sale, the insider now owns 22,428 shares of the company’s stock, valued at approximately $5,392,812.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 sale, the insider now owns 22,428 shares of the company’s stock, valued at approximately $5,392,812.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Christine A. Leahy acquired 1,200 shares of the company’s stock in a transaction 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 completion of the acquisition, the insider now owns 102,200 shares of the company’s stock, valued at $22,090,530. The disclosure for this purchase can be found here. Corporate insiders own 0.90% of the company’s stock.

CDW Price Performance

Shares of NASDAQ CDW opened at $214.48 on Thursday. The company has a market capitalization of $28.83 billion, a PE ratio of 26.78, a PEG ratio of 3.42 and a beta of 1.04. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 2.03. The stock’s 50 day moving average price is $222.33 and its 200-day moving average price is $232.13. CDW Co. has a twelve month low of $185.04 and a twelve month high of $263.37.

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

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 1.16%. The ex-dividend date is Monday, August 26th. CDW’s dividend 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.