Mackenzie Financial Corp Has $4.35 Million Stock Holdings in CDW Co. (NASDAQ:CDW)

Mackenzie Financial Corp trimmed its holdings in shares of CDW Co. (NASDAQ:CDW) by 2.7% during the second quarter, HoldingsChannel reports. The fund owned 19,453 shares of the information technology services provider’s stock after selling 538 shares during the quarter. Mackenzie Financial Corp’s holdings in CDW were worth $4,354,000 at the end of the most recent quarter.

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

CDW Price Performance

CDW stock opened at $217.81 on Wednesday. CDW Co. has a 1 year low of $185.04 and a 1 year high of $263.37. The stock has a market capitalization of $29.27 billion, a PE ratio of 27.19, a price-to-earnings-growth ratio of 3.40 and a beta of 1.04. The company’s 50-day moving average is $221.05 and its 200-day moving average is $228.88. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.13 and a quick ratio of 1.02.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $2.34 EPS 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 firm had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same period last year, the business posted $2.43 EPS. The company’s revenue was down 3.6% on a year-over-year basis. Equities research analysts expect that CDW Co. will post 9.4 EPS for the current fiscal year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were issued a dividend of $0.62 per share. The ex-dividend date was Monday, August 26th. This represents a $2.48 annualized dividend and a yield of 1.14%. CDW’s payout ratio is 30.96%.

Insider Buying and Selling at CDW

In other CDW news, insider Christine A. Leahy bought 1,200 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was bought at an average cost of $216.15 per share, with a total value of $259,380.00. Following the completion of the transaction, the insider now directly owns 102,200 shares in the company, valued at approximately $22,090,530. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Sona Chawla sold 18,437 shares of the stock in a transaction 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 directly 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 this link. Also, insider Christine A. Leahy acquired 1,200 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were purchased 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 directly owns 102,200 shares in the company, valued at $22,090,530. The disclosure for this purchase can be found here. Insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Northcoast Research upgraded shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 price objective for the company in a research report on Friday, June 7th. Barclays decreased their price target on CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $250.00 to $245.00 in a research report on Tuesday. Finally, Stifel Nicolaus upped their target price on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $252.75.

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.