Acadian Asset Management LLC Trims Holdings in CDW Co. (NASDAQ:CDW)

Acadian Asset Management LLC lowered its stake in shares of CDW Co. (NASDAQ:CDW) by 3.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 42,799 shares of the information technology services provider’s stock after selling 1,406 shares during the period. Acadian Asset Management LLC’s holdings in CDW were worth $9,574,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. UBS Group AG lifted its position in shares of CDW by 60.7% during the fourth quarter. UBS Group AG now owns 194,686 shares of the information technology services provider’s stock worth $44,256,000 after purchasing an additional 73,503 shares in the last quarter. Rafferty Asset Management LLC lifted its holdings in CDW by 157.3% during the 4th quarter. Rafferty Asset Management LLC now owns 90,362 shares of the information technology services provider’s stock worth $20,541,000 after buying an additional 55,239 shares in the last quarter. Insight Wealth Strategies LLC purchased a new position in CDW in the 1st quarter valued at approximately $3,940,000. Madison Asset Management LLC grew its stake in shares of CDW by 2.8% in the fourth quarter. Madison Asset Management LLC now owns 374,505 shares of the information technology services provider’s stock worth $85,132,000 after acquiring an additional 10,183 shares in the last quarter. Finally, Grayhawk Investment Strategies Inc. acquired a new position in shares of CDW in the fourth quarter worth $854,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Trading Up 0.8 %

CDW opened at $215.86 on Wednesday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.02 and a current ratio of 1.13. CDW Co. has a one year low of $185.04 and a one year high of $263.37. The company has a market cap of $28.83 billion, a P/E ratio of 26.95, a PEG ratio of 3.22 and a beta of 1.04. The business’s 50-day simple moving average is $221.74 and its 200-day simple moving average is $231.21.

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 analysts’ consensus estimates of $2.39 by ($0.05). CDW had a return on equity of 62.22% and a net margin of 5.29%. The company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same period in the previous year, the business posted $2.43 EPS. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, equities research analysts expect that CDW Co. will post 9.4 EPS for the current fiscal year.

CDW Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 1.15%. CDW’s dividend payout ratio (DPR) is presently 30.96%.

Insider Buying and Selling at CDW

In other news, insider Christine A. Leahy bought 1,200 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were acquired 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 $22,090,530. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Sona Chawla sold 18,437 shares of the 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 sale, the insider now owns 22,428 shares in the company, valued at approximately $5,392,812.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Christine A. Leahy acquired 1,200 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was acquired 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 of the company’s stock, valued at approximately $22,090,530. The disclosure for this purchase can be found here. 0.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CDW. Northcoast Research upgraded CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price for the company in a report on Friday, June 7th. Stifel Nicolaus increased their price target on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Finally, Barclays lowered their price objective on CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.