Sequoia Financial Advisors LLC Sells 2,784 Shares of CDW Co. (NASDAQ:CDW)

Sequoia Financial Advisors LLC decreased its stake in CDW Co. (NASDAQ:CDW) by 12.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 19,172 shares of the information technology services provider’s stock after selling 2,784 shares during the period. Sequoia Financial Advisors LLC’s holdings in CDW were worth $4,339,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC raised its holdings in shares of CDW by 211.5% in the 1st quarter. Acadian Asset Management LLC now owns 44,205 shares of the information technology services provider’s stock worth $11,302,000 after purchasing an additional 30,012 shares during the period. Wealthcare Advisory Partners LLC bought a new stake in shares of CDW in the 1st quarter worth approximately $1,403,000. Mediolanum International Funds Ltd bought a new stake in shares of CDW in the 1st quarter worth approximately $2,461,000. Meeder Asset Management Inc. raised its holdings in shares of CDW by 33,447.6% in the 1st quarter. Meeder Asset Management Inc. now owns 7,045 shares of the information technology services provider’s stock worth $1,802,000 after purchasing an additional 7,024 shares during the period. Finally, Norden Group LLC raised its holdings in shares of CDW by 1,675.6% in the 1st quarter. Norden Group LLC now owns 41,976 shares of the information technology services provider’s stock worth $10,736,000 after purchasing an additional 39,612 shares during the period. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at CDW

In related news, insider Christine A. Leahy bought 1,200 shares of the business’s stock in a transaction that occurred on 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 owns 102,200 shares of the company’s stock, valued at approximately $22,090,530. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Stifel Nicolaus lifted their price target on shares of CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and lowered their target price for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Finally, Barclays lowered their target price on shares of CDW from $232.00 to $229.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $255.00.

CDW Trading Down 1.5 %

CDW stock opened at $217.08 on Wednesday. The stock has a market cap of $29.18 billion, a P/E ratio of 27.10, a PEG ratio of 3.42 and a beta of 1.03. CDW Co. has a fifty-two week low of $185.04 and a fifty-two week high of $263.37. The firm’s fifty day moving average price is $221.65 and its 200-day moving average price is $225.26. 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 (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.39 by ($0.05). The firm 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 revenue for the quarter 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. Equities research analysts forecast that CDW Co. will post 9.4 earnings per share for the current fiscal year.

CDW Announces Dividend

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

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.