CDW Co. (NASDAQ:CDW) Shares Acquired by Matrix Private Capital Group LLC

Matrix Private Capital Group LLC boosted its position in shares of CDW Co. (NASDAQ:CDW) by 3.5% in the second quarter, Holdings Channel.com reports. The firm owned 1,844 shares of the information technology services provider’s stock after acquiring an additional 63 shares during the period. Matrix Private Capital Group LLC’s holdings in CDW were worth $413,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Tsfg LLC acquired a new stake in CDW during the 1st quarter valued at $26,000. Rise Advisors LLC acquired a new stake in CDW during the 1st quarter valued at $34,000. ORG Partners LLC acquired a new position in CDW during the 2nd quarter worth $34,000. Quest Partners LLC acquired a new position in CDW during the 2nd quarter worth $35,000. Finally, Summit Securities Group LLC acquired a new position in CDW during the 2nd quarter worth $40,000. 93.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CDW

In other news, insider Christine A. Leahy acquired 1,200 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were purchased at an average cost of $216.15 per share, for a total transaction of $259,380.00. Following the transaction, the insider now directly owns 102,200 shares in the company, valued at approximately $22,090,530. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other CDW news, insider Sona Chawla sold 18,437 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 22,428 shares in the company, valued at approximately $5,392,812.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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, for a total transaction of $259,380.00. Following the completion of the transaction, the insider now directly owns 102,200 shares in the company, 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 Analyst Weigh In

Several brokerages have weighed in on CDW. Northcoast Research raised shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 price objective for the company in a report on Friday, June 7th. 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. Finally, Barclays decreased their price objective on shares of CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $254.63.

CDW Trading Up 3.3 %

CDW stock opened at $228.63 on Friday. The firm’s 50-day moving average is $221.22 and its 200-day moving average is $229.45. 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 1 year low of $185.04 and a 1 year high of $263.37. The company has a market cap of $30.73 billion, a P/E ratio of 28.54, a PEG ratio of 3.40 and a beta of 1.04.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.05). The business had revenue of $5.42 billion during 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 company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.43 earnings per share. On average, equities analysts expect that CDW Co. will post 9.4 earnings per share for the current year.

CDW Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 1.08%. CDW’s dividend payout ratio is presently 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.