DekaBank Deutsche Girozentrale Sells 1,485 Shares of CDW Co. (NASDAQ:CDW)

DekaBank Deutsche Girozentrale reduced its holdings in CDW Co. (NASDAQ:CDW) by 2.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,487 shares of the information technology services provider’s stock after selling 1,485 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in CDW were worth $12,951,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Quest Partners LLC bought a new stake in shares of CDW during the 2nd quarter valued at about $35,000. ORG Partners LLC bought a new stake in CDW during the 2nd quarter valued at approximately $34,000. Summit Securities Group LLC purchased a new position in shares of CDW during the 2nd quarter worth approximately $40,000. Continuum Advisory LLC raised its position in shares of CDW by 1,692.3% in the 2nd quarter. Continuum Advisory LLC now owns 233 shares of the information technology services provider’s stock worth $52,000 after acquiring an additional 220 shares in the last quarter. Finally, Kimelman & Baird LLC purchased a new position in shares of CDW in the 2nd quarter valued at approximately $56,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Price Performance

Shares of NASDAQ:CDW opened at $219.90 on Wednesday. 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 firm has a market cap of $29.55 billion, a price-to-earnings ratio of 27.45, a price-to-earnings-growth ratio of 3.42 and a beta of 1.03. The business has a 50-day simple moving average of $221.46 and a two-hundred day simple moving average of $224.17. CDW Co. has a fifty-two week low of $185.04 and a fifty-two week high of $263.37.

CDW (NASDAQ:CDW) last released its quarterly earnings data 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 company had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.43 billion. CDW had a net margin of 5.29% and a return on equity of 62.22%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.43 earnings per share. On average, 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 issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Monday, August 26th. CDW’s payout ratio is currently 30.96%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CDW shares. Barclays reduced their target price 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. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and decreased their target price for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Stifel Nicolaus boosted their price target on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $260.00 to $235.00 in a research report on Monday. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $250.71.

Insider Buying and Selling at CDW

In other CDW news, insider Christine A. Leahy bought 1,200 shares of CDW stock in a transaction on Thursday, August 1st. The stock was acquired at an average cost of $216.15 per share, with a total value of $259,380.00. Following the completion of the acquisition, the insider now owns 102,200 shares in the company, valued at approximately $22,090,530. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.90% of the stock is owned by corporate insiders.

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.