Commonwealth Equity Services LLC Grows Stock Holdings in CDW Co. (NASDAQ:CDW)

Commonwealth Equity Services LLC raised its holdings in CDW Co. (NASDAQ:CDW) by 4.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,118 shares of the information technology services provider’s stock after purchasing an additional 377 shares during the quarter. Commonwealth Equity Services LLC’s holdings in CDW were worth $1,817,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Tsfg LLC acquired a new position in shares of CDW during the 1st quarter worth approximately $26,000. Rise Advisors LLC bought a new position in CDW in the 1st quarter worth about $34,000. ORG Partners LLC bought a new position in CDW in the 2nd quarter worth about $34,000. Summit Securities Group LLC bought a new position in shares of CDW in the second quarter valued at approximately $40,000. Finally, Continuum Advisory LLC boosted its holdings in shares of CDW by 1,692.3% in the second quarter. Continuum Advisory LLC now owns 233 shares of the information technology services provider’s stock valued at $52,000 after acquiring an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Price Performance

Shares of CDW stock opened at $220.15 on Friday. CDW Co. has a 1 year low of $185.04 and a 1 year high of $263.37. The firm’s 50 day moving average is $221.71 and its 200-day moving average is $231.02. The firm has a market capitalization of $29.41 billion, a price-to-earnings ratio of 27.48, a PEG ratio of 3.27 and a beta of 1.04. The company has a current ratio of 1.13, a quick ratio of 1.02 and a debt-to-equity ratio of 2.03.

CDW (NASDAQ:CDW) last issued 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). 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 the consensus estimate of $5.43 billion. During the same period in the previous year, the company posted $2.43 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. Sell-side analysts forecast 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. Investors of record on Monday, August 26th were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Monday, August 26th. CDW’s payout ratio is 30.96%.

Insider Buying and Selling

In other news, insider Christine A. Leahy purchased 1,200 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was purchased 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 directly owns 102,200 shares in the company, valued at approximately $22,090,530. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Christine A. Leahy bought 1,200 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was bought at an average price of $216.15 per share, for a total transaction of $259,380.00. Following the purchase, the insider now owns 102,200 shares in the company, valued at approximately $22,090,530. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sona Chawla sold 18,437 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the sale, the insider now owns 22,428 shares of the company’s stock, valued at approximately $5,392,812.60. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CDW has been the subject of several research analyst reports. Northcoast Research upgraded shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target for the company in a research report on Friday, June 7th. Stifel Nicolaus boosted their price objective on shares of CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Barclays decreased their target price 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. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.63.

CDW Company 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.