CDW Co. (NASDAQ:CDW) Stake Boosted by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. increased its stake in CDW Co. (NASDAQ:CDW) by 10.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,379 shares of the information technology services provider’s stock after purchasing an additional 2,056 shares during the period. Daiwa Securities Group Inc.’s holdings in CDW were worth $5,009,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CDW. Principal Securities Inc. acquired a new position in CDW during the 4th quarter valued at about $392,000. Envestnet Portfolio Solutions Inc. raised its holdings in shares of CDW by 1.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,419 shares of the information technology services provider’s stock valued at $1,005,000 after buying an additional 82 shares during the last quarter. Avantax Advisory Services Inc. boosted its position in shares of CDW by 8.0% during the fourth quarter. Avantax Advisory Services Inc. now owns 5,190 shares of the information technology services provider’s stock worth $1,180,000 after buying an additional 385 shares during the period. Westpac Banking Corp grew its holdings in CDW by 39.5% in the 4th quarter. Westpac Banking Corp now owns 773 shares of the information technology services provider’s stock worth $176,000 after buying an additional 219 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in CDW by 1.2% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 11,578 shares of the information technology services provider’s stock valued at $2,632,000 after acquiring an additional 139 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Performance

Shares of NASDAQ CDW opened at $218.64 on Friday. CDW Co. has a 52-week low of $185.04 and a 52-week high of $263.37. The stock has a market capitalization of $29.38 billion, a price-to-earnings ratio of 27.30, a PEG ratio of 3.22 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 fifty day simple moving average is $221.71 and its 200 day simple moving average is $231.02.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $5.43 billion. During the same quarter in the previous year, the firm posted $2.43 EPS. CDW’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts forecast that CDW Co. will post 9.4 earnings per share for the current fiscal year.

CDW Announces Dividend

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

Insiders Place Their Bets

In other CDW news, insider Christine A. Leahy bought 1,200 shares of CDW stock in a transaction dated Thursday, August 1st. The stock was bought at an average price of $216.15 per share, for a total transaction of $259,380.00. Following the completion of the acquisition, 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 SEC, which is accessible through the SEC website. In other CDW news, insider Christine A. Leahy bought 1,200 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were bought at an average price of $216.15 per share, for a total transaction of $259,380.00. Following the acquisition, the insider now directly owns 102,200 shares of the company’s stock, valued at $22,090,530. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sona Chawla sold 18,437 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the sale, the insider now owns 22,428 shares of the company’s stock, valued at $5,392,812.60. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

CDW has been the topic of a number of research analyst reports. Northcoast Research raised CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target on the stock in a report on Friday, June 7th. Barclays lowered their target price 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, Stifel Nicolaus upped their price target 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. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $254.63.

CDW 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.