103,216 Shares in CDW Co. (NASDAQ:CDW) Acquired by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. bought a new stake in CDW Co. (NASDAQ:CDW) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 103,216 shares of the information technology services provider’s stock, valued at approximately $23,104,000. D. E. Shaw & Co. Inc. owned approximately 0.08% of CDW as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. Acadian Asset Management LLC lifted its holdings in shares of CDW by 211.5% during the 1st quarter. Acadian Asset Management LLC now owns 44,205 shares of the information technology services provider’s stock valued at $11,302,000 after purchasing an additional 30,012 shares in the last quarter. Rafferty Asset Management LLC boosted its holdings in shares of CDW by 157.3% in the fourth quarter. Rafferty Asset Management LLC now owns 90,362 shares of the information technology services provider’s stock valued at $20,541,000 after buying an additional 55,239 shares during the period. Insight Wealth Strategies LLC bought a new stake in shares of CDW during the first quarter worth $3,940,000. Grayhawk Investment Strategies Inc. acquired a new stake in shares of CDW during the fourth quarter worth $854,000. Finally, Wealthcare Advisory Partners LLC bought a new stake in CDW in the 1st quarter valued at $1,403,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other CDW news, insider Sona Chawla sold 18,437 shares of CDW stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the completion of the transaction, the insider now directly owns 22,428 shares of the company’s stock, valued at $5,392,812.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Christine A. Leahy bought 1,200 shares of the 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 completion of the purchase, the insider now owns 102,200 shares in the company, valued at $22,090,530. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sona Chawla sold 18,437 shares of the business’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 completion of 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. 0.90% of the stock is owned by insiders.

CDW Trading Down 0.9 %

NASDAQ CDW opened at $226.55 on Monday. 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 stock has a 50 day moving average of $221.17 and a 200-day moving average of $229.02. The company has a market cap of $30.45 billion, a PE ratio of 28.28, a PEG ratio of 3.40 and a beta of 1.04.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share 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 firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same quarter in the prior year, the firm earned $2.43 earnings per share. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities research analysts anticipate that CDW Co. will post 9.4 EPS for the current fiscal year.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were paid a dividend of $0.62 per share. The ex-dividend date was Monday, August 26th. This represents a $2.48 annualized dividend and a dividend yield of 1.09%. CDW’s dividend payout ratio is currently 30.96%.

Analysts Set New Price Targets

A number of research firms have issued reports 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 upgraded CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price on the stock in a research note on Friday, June 7th. Finally, Barclays decreased their price target on shares of CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.