ProShare Advisors LLC Has $37.98 Million Stake in CDW Co. (NASDAQ:CDW)

ProShare Advisors LLC reduced its position in shares of CDW Co. (NASDAQ:CDW) by 9.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,655 shares of the information technology services provider’s stock after selling 17,788 shares during the period. ProShare Advisors LLC’s holdings in CDW were worth $37,976,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CDW. Aaron Wealth Advisors LLC lifted its stake in CDW by 2.8% in the 1st quarter. Aaron Wealth Advisors LLC now owns 1,540 shares of the information technology services provider’s stock valued at $394,000 after purchasing an additional 42 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in shares of CDW by 5.9% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 767 shares of the information technology services provider’s stock valued at $196,000 after acquiring an additional 43 shares in the last quarter. RDA Financial Network increased its holdings in CDW by 3.0% in the 2nd quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider’s stock worth $355,000 after purchasing an additional 46 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of CDW by 1.4% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,446 shares of the information technology services provider’s stock valued at $881,000 after purchasing an additional 47 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in CDW by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 11,541 shares of the information technology services provider’s stock valued at $2,583,000 after buying an additional 54 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

NASDAQ:CDW opened at $225.30 on Monday. The stock has a market cap of $30.28 billion, a P/E ratio of 28.13, a PEG ratio of 3.27 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 business’s 50-day moving average price is $222.12 and its two-hundred day moving average price is $229.85. CDW Co. has a twelve month low of $185.04 and a twelve month high of $263.37.

CDW (NASDAQ:CDW) last announced its earnings results 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 during the quarter, compared to analysts’ expectations of $5.43 billion. During the same period in the prior year, the business earned $2.43 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, equities analysts predict that CDW Co. will post 9.4 EPS for the current fiscal year.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were given a $0.62 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.48 annualized dividend and a yield of 1.10%. CDW’s dividend payout ratio (DPR) is presently 30.96%.

Insider Buying and Selling at CDW

In related news, insider Sona Chawla sold 18,437 shares of the business’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 value of $4,433,176.65. Following the completion of the sale, the insider now owns 22,428 shares in the company, valued at approximately $5,392,812.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Christine A. Leahy acquired 1,200 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were purchased 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 owns 102,200 shares in the company, valued at $22,090,530. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider Sona Chawla sold 18,437 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 22,428 shares of the company’s stock, valued at approximately $5,392,812.60. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

CDW has been the topic of several recent research reports. Stifel Nicolaus lifted 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. Barclays dropped their price target on shares of CDW from $232.00 to $229.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Finally, Northcoast Research upgraded 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. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, CDW currently has a consensus rating of “Moderate Buy” and an average price target of $254.63.

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.