CDW Co. (NASDAQ:CDW) Shares Bought by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. boosted its holdings in shares of CDW Co. (NASDAQ:CDW) by 20.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,703 shares of the information technology services provider’s stock after buying an additional 454 shares during the quarter. E Fund Management Co. Ltd.’s holdings in CDW were worth $605,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Tsfg LLC acquired a new stake in shares of CDW in the 1st quarter valued at $26,000. Rise Advisors LLC acquired a new stake in shares of CDW in the 1st quarter valued at $34,000. ORG Partners LLC acquired a new stake in shares of CDW in the 2nd quarter valued at $34,000. Quest Partners LLC acquired a new stake in shares of CDW in the 2nd quarter valued at $35,000. Finally, Summit Securities Group LLC acquired a new stake in shares of CDW in the 2nd quarter valued at $40,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CDW

In other CDW news, insider Christine A. Leahy bought 1,200 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was bought 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 in the company, valued at approximately $22,090,530. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Sona Chawla sold 18,437 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now directly owns 22,428 shares in the company, valued at $5,392,812.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Christine A. Leahy bought 1,200 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was bought at an average price 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 of the company’s stock, valued at approximately $22,090,530. The disclosure for this purchase can be found here. Company insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Stifel Nicolaus raised their price objective on shares of CDW from $250.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Barclays dropped 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. Finally, Northcoast Research raised shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price on the stock in a research report on Friday, June 7th. Three investment 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 a consensus rating of “Moderate Buy” and a consensus target price of $254.63.

CDW Trading Down 0.8 %

Shares of CDW stock opened at $221.62 on Thursday. CDW Co. has a 1 year low of $185.04 and a 1 year high of $263.37. 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 market capitalization of $29.79 billion, a P/E ratio of 27.67, a PEG ratio of 3.27 and a beta of 1.04. The company’s fifty day moving average is $222.10 and its two-hundred day moving average is $230.24.

CDW (NASDAQ:CDW) last issued its earnings results 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 firm had revenue of $5.42 billion during 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 was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.43 EPS. Analysts forecast that CDW Co. will post 9.4 earnings per share for the current year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend was Monday, August 26th. CDW’s dividend payout ratio (DPR) is 30.96%.

CDW 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.