Raymond James & Associates Has $30.87 Million Holdings in CDW Co. (NASDAQ:CDW)

Raymond James & Associates trimmed its position in shares of CDW Co. (NASDAQ:CDW) by 2.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 136,412 shares of the information technology services provider’s stock after selling 3,299 shares during the period. Raymond James & Associates’ holdings in CDW were worth $30,870,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Investment Advisors LLC raised its stake in CDW by 20.6% in the third quarter. Capital Investment Advisors LLC now owns 5,948 shares of the information technology services provider’s stock valued at $1,346,000 after buying an additional 1,015 shares during the period. Net Worth Advisory Group acquired a new position in shares of CDW during the 3rd quarter worth approximately $247,000. Aaron Wealth Advisors LLC raised its stake in CDW by 20.1% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 1,752 shares of the information technology services provider’s stock valued at $396,000 after acquiring an additional 293 shares during the period. V Square Quantitative Management LLC lifted its holdings in CDW by 23.2% during the 3rd quarter. V Square Quantitative Management LLC now owns 1,074 shares of the information technology services provider’s stock valued at $243,000 after purchasing an additional 202 shares during the last quarter. Finally, Professional Advisory Services Inc. boosted its position in CDW by 4.2% during the third quarter. Professional Advisory Services Inc. now owns 112,814 shares of the information technology services provider’s stock worth $25,530,000 after purchasing an additional 4,565 shares during the period. 93.15% of the stock is owned by institutional investors.

CDW Trading Up 0.3 %

CDW stock opened at $217.65 on Thursday. CDW Co. has a 52 week low of $185.04 and a 52 week high of $263.37. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.02 and a current ratio of 1.13. The company’s 50-day simple moving average is $221.67 and its 200 day simple moving average is $225.21. The company has a market capitalization of $29.25 billion, a PE ratio of 27.17, a price-to-earnings-growth ratio of 3.42 and a beta of 1.03.

CDW (NASDAQ:CDW) last announced 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 business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.43 billion. CDW had a return on equity of 62.22% and a net margin of 5.29%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.43 earnings per share. As a group, sell-side analysts anticipate that CDW Co. will post 9.4 earnings per share for the current year.

CDW Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have recently weighed in on CDW. Barclays dropped their price objective 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. Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and lowered their price target for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Finally, Stifel Nicolaus boosted their price objective on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $255.00.

Insider Activity

In related news, insider Christine A. Leahy purchased 1,200 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 102,200 shares of the company’s stock, valued at approximately $22,090,530. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.90% of the company’s stock.

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.