Eastern Bank Decreases Holdings in CDW Co. (NASDAQ:CDW)

Eastern Bank lessened its stake in shares of CDW Co. (NASDAQ:CDW) by 0.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,924 shares of the information technology services provider’s stock after selling 90 shares during the period. Eastern Bank’s holdings in CDW were worth $2,246,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC increased its holdings in CDW by 184.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 21,450 shares of the information technology services provider’s stock worth $4,854,000 after buying an additional 13,902 shares during the last quarter. Compass Ion Advisors LLC increased its stake in shares of CDW by 3.5% in the third quarter. Compass Ion Advisors LLC now owns 8,294 shares of the information technology services provider’s stock worth $1,877,000 after purchasing an additional 280 shares in the last quarter. Vest Financial LLC purchased a new position in shares of CDW in the third quarter worth about $206,000. Buckley Wealth Management LLC increased its stake in shares of CDW by 4.3% in the third quarter. Buckley Wealth Management LLC now owns 3,028 shares of the information technology services provider’s stock worth $685,000 after purchasing an additional 124 shares in the last quarter. Finally, Capital Investment Advisors LLC increased its stake in shares of CDW by 20.6% in the third quarter. Capital Investment Advisors LLC now owns 5,948 shares of the information technology services provider’s stock worth $1,346,000 after purchasing an additional 1,015 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Insider Buying and Selling at CDW

In other news, insider Christine A. Leahy acquired 1,200 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were purchased 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 trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Barclays lowered their price objective 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. Finally, Stifel Nicolaus increased their target price on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.00.

CDW Stock Down 1.5 %

Shares of NASDAQ:CDW opened at $217.08 on Wednesday. CDW Co. has a 12-month low of $185.04 and a 12-month high of $263.37. The company has a current ratio of 1.13, a quick ratio of 1.02 and a debt-to-equity ratio of 2.03. The stock’s 50-day moving average price is $221.65 and its 200-day moving average price is $225.26. The stock has a market capitalization of $29.18 billion, a P/E ratio of 27.10, a price-to-earnings-growth ratio of 3.42 and a beta of 1.03.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 EPS 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 during the quarter, compared to analysts’ expectations of $5.43 billion. During the same period last year, the firm earned $2.43 earnings per share. CDW’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities analysts anticipate that CDW Co. will post 9.4 earnings per share for the current year.

CDW Announces Dividend

The company also recently declared 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. 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 1.14%. CDW’s dividend payout ratio is currently 30.96%.

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.