CDW Co. (NASDAQ:CDW) Shares Sold by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. lessened its stake in CDW Co. (NASDAQ:CDW) by 55.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,799 shares of the information technology services provider’s stock after selling 8,614 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in CDW were worth $1,522,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Tsfg LLC acquired a new stake in CDW during the 1st quarter worth approximately $26,000. Rise Advisors LLC acquired a new stake in shares of CDW in the first quarter worth $34,000. ORG Partners LLC purchased a new position in shares of CDW in the 2nd quarter valued at $34,000. Summit Securities Group LLC acquired a new position in shares of CDW during the 2nd quarter valued at $40,000. Finally, Continuum Advisory LLC boosted its position in CDW by 1,692.3% during the 2nd quarter. Continuum Advisory LLC now owns 233 shares of the information technology services provider’s stock worth $52,000 after purchasing an additional 220 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at CDW

In other news, insider Christine A. Leahy purchased 1,200 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were acquired at an average cost of $216.15 per share, with a total value of $259,380.00. Following the transaction, the insider now owns 102,200 shares in the company, valued at approximately $22,090,530. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other CDW news, insider Christine A. Leahy purchased 1,200 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was acquired at an average cost of $216.15 per share, with a total value of $259,380.00. Following the acquisition, the insider now owns 102,200 shares of the company’s stock, valued at approximately $22,090,530. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction of $4,433,176.65. Following the sale, the insider now directly owns 22,428 shares of the company’s stock, valued at approximately $5,392,812.60. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CDW has been the topic of a number of recent research reports. Northcoast Research upgraded CDW from a “neutral” rating to a “buy” rating and set a $270.00 price objective on the stock in a research note on Friday, June 7th. Stifel Nicolaus boosted their price target on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Barclays lowered their price objective on shares of CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, CDW currently has an average rating of “Moderate Buy” and an average price target of $254.63.

CDW Price Performance

CDW stock opened at $217.67 on Wednesday. The company has a market capitalization of $29.25 billion, a PE ratio of 27.17, a P/E/G ratio of 3.42 and a beta of 1.04. 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 stock’s 50 day moving average is $222.50 and its two-hundred day moving average is $232.25. 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.05). The company had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.43 billion. CDW had a net margin of 5.29% and a return on equity of 62.22%. The company’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.43 earnings per share. Analysts predict that CDW Co. will post 9.4 earnings per share for the current fiscal year.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 26th will be paid a $0.62 dividend. The ex-dividend date is Monday, August 26th. This represents a $2.48 dividend on an annualized basis and a yield of 1.14%. CDW’s dividend payout ratio (DPR) is 30.96%.

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.