Harbour Investments Inc. Buys 108 Shares of CDW Co. (NASDAQ:CDW)

Harbour Investments Inc. lifted its stake in CDW Co. (NASDAQ:CDW) by 8.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,401 shares of the information technology services provider’s stock after acquiring an additional 108 shares during the period. Harbour Investments Inc.’s holdings in CDW were worth $314,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. UBS Group AG increased its stake in shares of CDW by 60.7% in the fourth quarter. UBS Group AG now owns 194,686 shares of the information technology services provider’s stock worth $44,256,000 after purchasing an additional 73,503 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of CDW by 211.5% during the first quarter. Acadian Asset Management LLC now owns 44,205 shares of the information technology services provider’s stock worth $11,302,000 after buying an additional 30,012 shares during the last quarter. Rafferty Asset Management LLC boosted its position in shares of CDW by 157.3% in the fourth quarter. Rafferty Asset Management LLC now owns 90,362 shares of the information technology services provider’s stock valued at $20,541,000 after acquiring an additional 55,239 shares during the period. Insight Wealth Strategies LLC acquired a new stake in shares of CDW in the first quarter worth $3,940,000. Finally, Madison Asset Management LLC increased its position in CDW by 2.8% during the fourth quarter. Madison Asset Management LLC now owns 374,505 shares of the information technology services provider’s stock worth $85,132,000 after acquiring an additional 10,183 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other CDW news, insider Sona Chawla sold 18,437 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $240.45, for a total value of $4,433,176.65. Following the transaction, the insider now directly owns 22,428 shares in the company, valued at $5,392,812.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other CDW news, insider Christine A. Leahy bought 1,200 shares of the firm’s stock in a transaction dated 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 completion of the acquisition, the insider now owns 102,200 shares of the company’s stock, valued at $22,090,530. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sona Chawla sold 18,437 shares of CDW stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $240.45, for a total value of $4,433,176.65. Following the completion of the transaction, the insider now directly owns 22,428 shares of the company’s stock, valued at $5,392,812.60. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

CDW Stock Down 0.6 %

NASDAQ CDW opened at $223.12 on Friday. CDW Co. has a 1-year low of $185.04 and a 1-year high of $263.37. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.03. The stock’s 50 day moving average is $222.96 and its two-hundred day moving average is $232.74. The company has a market capitalization of $29.99 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 3.17 and a beta of 1.04.

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 the consensus estimate of $2.39 by ($0.05). CDW had a net margin of 5.29% and a return on equity of 62.22%. The company had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same period in the prior year, the firm earned $2.43 EPS. CDW’s quarterly revenue was down 3.6% compared to the same quarter last year. Equities analysts forecast that CDW Co. will post 9.6 earnings per share for the current fiscal year.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Monday, August 26th. CDW’s payout ratio is 30.96%.

Wall Street Analysts Forecast Growth

CDW has been the topic of several research analyst reports. Citigroup decreased their price target on shares of CDW from $295.00 to $260.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Stifel Nicolaus lifted their target price on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. lowered their price target on CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Northcoast Research upgraded CDW from a “neutral” rating to a “buy” rating and set a $270.00 price objective for the company in a research report on Friday, June 7th. Finally, Barclays lowered their price objective on CDW from $232.00 to $229.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.