Quarry LP Invests $81,000 in CDW Co. (NASDAQ:CDW)

Quarry LP purchased a new stake in shares of CDW Co. (NASDAQ:CDW) during the second quarter, Holdings Channel reports. The institutional investor purchased 362 shares of the information technology services provider’s stock, valued at approximately $81,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP lifted its position in shares of CDW by 29.1% during the fourth quarter. Wellington Management Group LLP now owns 3,464,886 shares of the information technology services provider’s stock worth $787,638,000 after acquiring an additional 781,421 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of CDW by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider’s stock valued at $4,196,721,000 after purchasing an additional 714,393 shares during the period. Lazard Asset Management LLC lifted its holdings in CDW by 225.9% during the 1st quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider’s stock worth $225,491,000 after purchasing an additional 611,054 shares in the last quarter. First Trust Advisors LP boosted its stake in CDW by 627.3% in the 4th quarter. First Trust Advisors LP now owns 625,781 shares of the information technology services provider’s stock worth $142,252,000 after purchasing an additional 539,745 shares during the period. Finally, Ceredex Value Advisors LLC purchased a new position in CDW during the 2nd quarter valued at about $79,549,000. 93.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $250.00 to $245.00 in a report on Tuesday. Stifel Nicolaus upped their price target on shares of CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Barclays dropped their price objective on 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 CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price on the stock in a research note on Friday, June 7th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $252.75.

Insider Activity at CDW

In other CDW news, insider Sona Chawla sold 18,437 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $5,392,812.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other CDW news, insider Sona Chawla sold 18,437 shares of CDW stock in a transaction that occurred on Tuesday, July 16th. The stock was 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 of the company’s stock, valued at approximately $5,392,812.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christine A. Leahy acquired 1,200 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were bought at an average cost of $216.15 per share, with a total value of $259,380.00. Following the purchase, 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. 0.90% of the stock is owned by insiders.

CDW Stock Up 0.7 %

CDW opened at $219.35 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 2.03. The business’s fifty day simple moving average is $220.80 and its 200 day simple moving average is $228.68. CDW Co. has a 52 week low of $185.04 and a 52 week high of $263.37. The stock has a market cap of $29.48 billion, a PE ratio of 27.38, a P/E/G ratio of 3.40 and a beta of 1.04.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.05). The firm 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 business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.43 earnings per share. As a group, research analysts expect that CDW Co. will post 9.4 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were paid a $0.62 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.13%. CDW’s dividend payout ratio (DPR) is 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.