Mercer Global Advisors Inc. ADV Buys 2,706 Shares of CDW Co. (NASDAQ:CDW)

Mercer Global Advisors Inc. ADV raised its stake in shares of CDW Co. (NASDAQ:CDW) by 5.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 51,993 shares of the information technology services provider’s stock after purchasing an additional 2,706 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in CDW were worth $11,626,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CDW. Tsfg LLC bought a new stake in shares of CDW during the 1st quarter valued at $26,000. Rise Advisors LLC bought a new stake in CDW during the first quarter valued at about $34,000. ORG Partners LLC purchased a new position in shares of CDW in the second quarter valued at about $34,000. Quest Partners LLC bought a new position in shares of CDW in the second quarter worth about $35,000. Finally, Summit Securities Group LLC purchased a new stake in shares of CDW during the second quarter worth about $40,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on CDW shares. Stifel Nicolaus upped their price target on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Barclays cut their target price on shares of CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Finally, Northcoast Research upgraded shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target on the stock in a research note on Friday, June 7th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $254.63.

CDW Price Performance

Shares of CDW stock opened at $227.87 on Friday. The stock has a 50 day moving average price of $222.18 and a 200 day moving average price of $230.23. The firm has a market capitalization of $30.63 billion, a P/E ratio of 28.45, a P/E/G ratio of 3.27 and a beta of 1.04. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.02 and a current ratio of 1.13. CDW Co. has a 52-week low of $185.04 and a 52-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 analysts’ consensus estimates of $2.39 by ($0.05). CDW had a return on equity of 62.22% and a net margin of 5.29%. The company had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter in the previous year, the company posted $2.43 earnings per share. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, sell-side analysts predict that CDW Co. will post 9.4 earnings per share for the current year.

CDW Dividend Announcement

The company 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. The ex-dividend date was Monday, August 26th. This represents a $2.48 annualized dividend and a yield of 1.09%. CDW’s dividend payout ratio (DPR) is currently 30.96%.

Insider Activity

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 completion of the transaction, the insider now directly owns 22,428 shares in the company, valued at $5,392,812.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Sona Chawla sold 18,437 shares of the company’s stock in a transaction on 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 directly owns 22,428 shares of the company’s stock, valued at $5,392,812.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Christine A. Leahy acquired 1,200 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were acquired at an average price of $216.15 per share, with a total value of $259,380.00. Following the acquisition, the insider now owns 102,200 shares in the company, valued at approximately $22,090,530. The disclosure for this purchase can be found here. Insiders own 0.90% of the company’s stock.

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.