CDW Co. (NASDAQ:CDW) Shares Bought by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. boosted its stake in CDW Co. (NASDAQ:CDW) by 34.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,171 shares of the information technology services provider’s stock after acquiring an additional 820 shares during the period. Meeder Advisory Services Inc.’s holdings in CDW were worth $710,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CDW. Tsfg LLC purchased a new position in shares of CDW during the 1st quarter worth $26,000. Rise Advisors LLC acquired a new stake in shares of CDW in the first quarter worth approximately $34,000. ORG Partners LLC purchased a new stake in CDW in the second quarter valued at approximately $34,000. Quest Partners LLC purchased a new stake in shares of CDW during the 2nd quarter valued at $35,000. Finally, Summit Securities Group LLC acquired a new position in shares of CDW in the 2nd quarter valued at about $40,000. 93.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CDW

In other news, insider Sona Chawla sold 18,437 shares of CDW 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 approximately $5,392,812.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Christine A. Leahy acquired 1,200 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were purchased at an average price of $216.15 per share, with a total value of $259,380.00. Following the acquisition, the insider now directly owns 102,200 shares in the company, valued at $22,090,530. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Sona Chawla sold 18,437 shares of the company’s stock in a transaction 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 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. Corporate insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

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

CDW Price Performance

NASDAQ CDW opened at $220.15 on Friday. The firm has a market cap of $29.41 billion, a P/E ratio of 27.48, a price-to-earnings-growth ratio of 3.27 and a beta of 1.04. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.13 and a quick ratio of 1.02. The stock’s 50-day moving average is $221.79 and its two-hundred day moving average is $230.75. CDW Co. has a fifty-two week low of $185.04 and a fifty-two week high of $263.37.

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

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were given a dividend of $0.62 per share. 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 (DPR) is presently 30.96%.

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.