CDW Co. (NASDAQ:CDW) Shares Sold by Delta Investment Management LLC

Delta Investment Management LLC lessened its holdings in CDW Co. (NASDAQ:CDW) by 22.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,673 shares of the information technology services provider’s stock after selling 781 shares during the period. Delta Investment Management LLC’s holdings in CDW were worth $598,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of CDW. Acadian Asset Management LLC increased its stake in shares of CDW by 211.5% during the first quarter. Acadian Asset Management LLC now owns 44,205 shares of the information technology services provider’s stock worth $11,302,000 after purchasing an additional 30,012 shares in the last quarter. Rafferty Asset Management LLC increased its stake in CDW by 157.3% during the 4th quarter. Rafferty Asset Management LLC now owns 90,362 shares of the information technology services provider’s stock worth $20,541,000 after buying an additional 55,239 shares in the last quarter. Insight Wealth Strategies LLC acquired a new position in shares of CDW during the first quarter valued at approximately $3,940,000. Madison Asset Management LLC lifted its position in shares of CDW by 2.8% in the fourth quarter. Madison Asset Management LLC now owns 374,505 shares of the information technology services provider’s stock valued at $85,132,000 after acquiring an additional 10,183 shares in the last quarter. Finally, Grayhawk Investment Strategies Inc. purchased a new position in shares of CDW in the fourth quarter valued at approximately $854,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Price Performance

CDW stock opened at $221.28 on Thursday. The stock has a market cap of $29.74 billion, a P/E ratio of 27.63, a PEG ratio of 3.40 and a beta of 1.04. The company has a current ratio of 1.13, a quick ratio of 1.02 and a debt-to-equity ratio of 2.03. The company has a 50-day moving average price of $221.32 and a 200 day moving average price of $229.46. CDW Co. has a 12-month low of $185.04 and a 12-month 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 (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.05). The business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.43 billion. CDW had a return on equity of 62.22% and a net margin of 5.29%. CDW’s revenue was down 3.6% compared to the same quarter last year. During the same period last year, the business earned $2.43 EPS. Sell-side analysts anticipate that CDW Co. will post 9.4 earnings per share for the current year.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were given 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 yield of 1.12%. CDW’s payout ratio is currently 30.96%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CDW. 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. Barclays reduced 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 report 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 report on Friday, June 7th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $254.63.

Insiders Place Their Bets

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

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.