CDW Co. (NASDAQ:CDW) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. cut its position in shares of CDW Co. (NASDAQ:CDW) by 40.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,899 shares of the information technology services provider’s stock after selling 3,281 shares during the quarter. Edgestream Partners L.P.’s holdings in CDW were worth $1,097,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in CDW by 4.6% during the first quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider’s stock worth $4,196,721,000 after purchasing an additional 714,393 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of CDW by 29.1% in the fourth quarter. Wellington Management Group LLP now owns 3,464,886 shares of the information technology services provider’s stock worth $787,638,000 after acquiring an additional 781,421 shares during the last quarter. Mawer Investment Management Ltd. raised its holdings in shares of CDW by 0.9% in the first quarter. Mawer Investment Management Ltd. now owns 3,101,924 shares of the information technology services provider’s stock worth $793,410,000 after acquiring an additional 27,753 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of CDW by 3.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,431,573 shares of the information technology services provider’s stock worth $366,168,000 after acquiring an additional 51,450 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of CDW by 11.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,292,674 shares of the information technology services provider’s stock worth $289,357,000 after acquiring an additional 128,263 shares during the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Price Performance

Shares of NASDAQ:CDW opened at $225.30 on Friday. The company has a market cap of $30.28 billion, a P/E ratio of 28.13, a P/E/G ratio of 3.27 and a beta of 1.04. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 2.03. CDW Co. has a 52 week low of $185.04 and a 52 week high of $263.37. The business has a fifty day simple moving average of $222.12 and a 200-day simple moving average of $230.08.

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). CDW had a net margin of 5.29% and a return on equity of 62.22%. The firm had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same period last year, the firm posted $2.43 EPS. CDW’s revenue was down 3.6% on a year-over-year basis. Equities research analysts forecast that CDW Co. will post 9.4 EPS for the current year.

CDW Announces Dividend

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

Insider Buying and Selling at CDW

In other CDW news, insider Sona Chawla sold 18,437 shares of the business’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 transaction, the insider now owns 22,428 shares in the company, valued at $5,392,812.60. The sale was disclosed in a legal filing with the SEC, which is available at 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 stock was sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the transaction, the insider now owns 22,428 shares in the company, valued at $5,392,812.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Christine A. Leahy acquired 1,200 shares of CDW 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 purchase, the insider now 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 company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Northcoast Research raised CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target for the company in a report on Friday, June 7th. Barclays cut their price target on CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. Finally, Stifel Nicolaus lifted their price objective on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.