CDW Co. (NASDAQ:CDW) Stock Position Lowered by SRN Advisors LLC

SRN Advisors LLC trimmed its position in shares of CDW Co. (NASDAQ:CDW) by 2.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,660 shares of the information technology services provider’s stock after selling 166 shares during the period. SRN Advisors LLC’s holdings in CDW were worth $1,281,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of CDW by 4.6% in the first quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider’s stock worth $4,196,721,000 after purchasing an additional 714,393 shares in the last quarter. Mawer Investment Management Ltd. lifted its position in CDW by 0.9% in the 1st quarter. Mawer Investment Management Ltd. now owns 3,101,924 shares of the information technology services provider’s stock worth $793,410,000 after buying an additional 27,753 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in CDW by 3.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,431,573 shares of the information technology services provider’s stock worth $366,168,000 after buying an additional 51,450 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of CDW by 11.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,292,674 shares of the information technology services provider’s stock valued at $289,357,000 after buying an additional 128,263 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in shares of 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 valued at $225,491,000 after acquiring an additional 611,054 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Price Performance

Shares of NASDAQ:CDW opened at $217.01 on Friday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.13 and a quick ratio of 1.02. The stock has a market capitalization of $29.17 billion, a P/E ratio of 27.09, a P/E/G ratio of 3.42 and a beta of 1.03. The business has a 50-day moving average of $221.50 and a two-hundred day moving average of $224.70. CDW Co. has a fifty-two week low of $185.04 and a fifty-two week high of $263.37.

CDW (NASDAQ:CDW) last posted 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). 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 analyst estimates of $5.43 billion. During the same quarter last year, the firm posted $2.43 earnings per share. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, equities research analysts predict that CDW Co. will post 9.4 EPS for the current fiscal year.

CDW Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 1.14%. CDW’s payout ratio is presently 30.96%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Stifel Nicolaus lifted their price objective on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and reduced their price target for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Finally, Barclays dropped their price objective on CDW from $232.00 to $229.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $255.00.

Insider Buying and Selling

In other CDW news, insider Christine A. Leahy purchased 1,200 shares of the 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 completion of the transaction, the insider now owns 102,200 shares in the company, valued at $22,090,530. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.