Resonant Capital Advisors LLC Sells 106 Shares of CDW Co. (NASDAQ:CDW)

Resonant Capital Advisors LLC lowered its holdings in shares of CDW Co. (NASDAQ:CDW) by 2.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 4,154 shares of the information technology services provider’s stock after selling 106 shares during the quarter. Resonant Capital Advisors LLC’s holdings in CDW were worth $940,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. RDA Financial Network lifted its holdings in shares of CDW by 3.0% in the 2nd quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider’s stock valued at $355,000 after acquiring an additional 46 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in CDW by 1.4% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,446 shares of the information technology services provider’s stock valued at $881,000 after purchasing an additional 47 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of CDW by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 11,541 shares of the information technology services provider’s stock valued at $2,583,000 after purchasing an additional 54 shares during the last quarter. Smithfield Trust Co boosted its holdings in shares of CDW by 4.1% in the 1st quarter. Smithfield Trust Co now owns 1,434 shares of the information technology services provider’s stock worth $367,000 after purchasing an additional 57 shares during the period. Finally, Profund Advisors LLC increased its position in shares of CDW by 0.5% during the 2nd quarter. Profund Advisors LLC now owns 12,469 shares of the information technology services provider’s stock valued at $2,791,000 after purchasing an additional 58 shares during the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Barclays lowered their price target 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. Stifel Nicolaus raised their target price 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, Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and cut their price target for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $255.00.

Insider Transactions at CDW

In related news, insider Christine A. Leahy acquired 1,200 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were bought at an average price of $216.15 per share, with a total value of $259,380.00. Following the completion of the transaction, the insider now directly owns 102,200 shares in the company, valued at $22,090,530. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.90% of the company’s stock.

CDW Stock Performance

CDW stock opened at $218.31 on Monday. 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 company has a 50 day moving average price of $221.46 and a 200-day moving average price of $225.75. The company has a market capitalization of $29.34 billion, a PE ratio of 27.25, a P/E/G 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.

CDW (NASDAQ:CDW) last posted its quarterly earnings results 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 business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.43 billion. CDW had a net margin of 5.29% and a return on equity of 62.22%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.43 EPS. As a group, equities analysts forecast that CDW Co. will post 9.4 earnings per share for the current year.

CDW Dividend Announcement

The business 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 was Monday, August 26th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.14%. 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.