CDW Co. (NASDAQ:CDW) Position Increased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lifted its holdings in CDW Co. (NASDAQ:CDW) by 50.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 2,398 shares of the information technology services provider’s stock after purchasing an additional 807 shares during the period. Exchange Traded Concepts LLC’s holdings in CDW were worth $543,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. RDA Financial Network grew its stake in CDW by 3.0% during the 2nd quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider’s stock worth $355,000 after buying an additional 46 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of CDW by 1.4% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,446 shares of the information technology services provider’s stock worth $881,000 after acquiring an additional 47 shares during the period. Oregon Public Employees Retirement Fund lifted its position 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 purchasing an additional 54 shares during the last quarter. Smithfield Trust Co boosted its stake in CDW by 4.1% during the 1st quarter. Smithfield Trust Co now owns 1,434 shares of the information technology services provider’s stock valued at $367,000 after purchasing an additional 57 shares during the period. Finally, Wedmont Private Capital grew its position in CDW by 3.4% in the 1st quarter. Wedmont Private Capital now owns 1,764 shares of the information technology services provider’s stock worth $448,000 after purchasing an additional 58 shares during the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CDW has been the topic of a number of recent analyst reports. Stifel Nicolaus lifted their price target on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and cut their target price for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Finally, Barclays decreased their price target on 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 analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, CDW presently has an average rating of “Moderate Buy” and an average target price of $255.00.

Insider Activity at CDW

In related news, insider Christine A. Leahy purchased 1,200 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were bought at an average price of $216.15 per share, with a total value of $259,380.00. Following the completion of the acquisition, the insider now owns 102,200 shares of the company’s stock, valued at approximately $22,090,530. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.90% of the company’s stock.

CDW Price Performance

Shares of NASDAQ:CDW opened at $218.31 on Friday. The stock’s 50 day moving average price is $221.46 and its 200 day moving average price is $226.14. 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 has a market cap of $29.34 billion, a price-to-earnings ratio of 27.25, a PEG ratio of 3.42 and a beta of 1.03. CDW Co. has a 12 month low of $185.04 and a 12 month high of $263.37.

CDW (NASDAQ:CDW) last announced 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). The firm had revenue of $5.42 billion during 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%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.43 EPS. Equities research analysts anticipate that CDW Co. will post 9.4 earnings per share for the current fiscal year.

CDW Announces Dividend

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

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.