Ieq Capital LLC Purchases 508 Shares of CDW Co. (NASDAQ:CDW)

Ieq Capital LLC lifted its position in CDW Co. (NASDAQ:CDW) by 4.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,424 shares of the information technology services provider’s stock after buying an additional 508 shares during the period. Ieq Capital LLC’s holdings in CDW were worth $2,557,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CDW. Tsfg LLC bought a new stake in shares of CDW in the first quarter worth about $26,000. Rise Advisors LLC bought a new stake in CDW during the 1st quarter worth approximately $34,000. ORG Partners LLC acquired a new stake in CDW during the 2nd quarter worth approximately $34,000. Quest Partners LLC acquired a new stake in CDW during the 2nd quarter worth approximately $35,000. Finally, Summit Securities Group LLC bought a new position in CDW in the second quarter valued at approximately $40,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Performance

Shares of NASDAQ CDW opened at $225.30 on Friday. 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 stock has a 50 day moving average price of $222.12 and a 200 day moving average price of $229.97. The stock has a market capitalization of $30.28 billion, a PE ratio of 28.13, a price-to-earnings-growth ratio of 3.27 and a beta of 1.04. CDW Co. has a 52 week low of $185.04 and a 52 week high of $263.37.

CDW (NASDAQ:CDW) last released its quarterly earnings data 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 company 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 period in the previous year, the company posted $2.43 EPS. Analysts predict that CDW Co. will post 9.4 earnings per share for the current fiscal year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.48 annualized dividend and a dividend yield of 1.10%. CDW’s dividend payout ratio is presently 30.96%.

Wall Street Analyst Weigh In

CDW has been the topic of a number of research analyst reports. Stifel Nicolaus raised 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. Northcoast Research raised CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target on the stock in a research note on Friday, June 7th. Finally, Barclays reduced 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 investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, CDW has an average rating of “Moderate Buy” and an average target price of $254.63.

Insider Activity

In related news, insider Sona Chawla sold 18,437 shares of CDW 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 completion of the transaction, the insider now owns 22,428 shares in the company, valued at $5,392,812.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other CDW news, insider Sona Chawla sold 18,437 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider now owns 22,428 shares of the company’s stock, valued at approximately $5,392,812.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christine A. Leahy acquired 1,200 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was bought at an average cost of $216.15 per share, for a total transaction of $259,380.00. Following the completion of the transaction, the insider now directly owns 102,200 shares of the company’s stock, valued at $22,090,530. The disclosure for this purchase can be found here. 0.90% of the stock is owned by insiders.

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.