Mackenzie Financial Corp Has $4.35 Million Stock Position in CDW Co. (NASDAQ:CDW)

Mackenzie Financial Corp lowered its stake in CDW Co. (NASDAQ:CDW) by 2.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,453 shares of the information technology services provider’s stock after selling 538 shares during the quarter. Mackenzie Financial Corp’s holdings in CDW were worth $4,354,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tsfg LLC bought a new stake in CDW in the 1st quarter valued at approximately $26,000. Rise Advisors LLC bought a new stake in shares of CDW in the first quarter worth $34,000. ORG Partners LLC acquired a new position in CDW during the second quarter worth $34,000. Quest Partners LLC bought a new position in CDW in the second quarter valued at $35,000. Finally, Summit Securities Group LLC acquired a new stake in CDW in the 2nd quarter valued at $40,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

Insiders Place Their Bets

In other CDW news, insider Christine A. Leahy purchased 1,200 shares of the stock in a transaction dated Thursday, August 1st. The stock was bought 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 of the company’s stock, valued at $22,090,530. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $4,433,176.65. Following the sale, the insider now 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 SEC, which is accessible through this link. Also, insider Christine A. Leahy purchased 1,200 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was purchased at an average price of $216.15 per share, with a total value of $259,380.00. Following the completion of the purchase, the insider now directly owns 102,200 shares in the company, valued at approximately $22,090,530. The disclosure for this purchase can be found here. Corporate insiders own 0.90% of the company’s stock.

CDW Stock Performance

CDW opened at $217.81 on Wednesday. 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. The firm has a market cap of $29.27 billion, a P/E ratio of 27.19, a price-to-earnings-growth ratio of 3.40 and a beta of 1.04. The business’s fifty day moving average is $221.05 and its 200-day moving average is $228.88.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share (EPS) 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 analyst estimates of $5.43 billion. CDW had a return on equity of 62.22% and a net margin of 5.29%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.43 earnings per share. Sell-side analysts expect that CDW Co. will post 9.4 EPS for the current fiscal year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 1.14%. The ex-dividend date was Monday, August 26th. CDW’s payout ratio is presently 30.96%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CDW. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $250.00 to $245.00 in a research note on Tuesday. Stifel Nicolaus raised their price target on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Barclays dropped their price objective on CDW from $232.00 to $229.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. Finally, Northcoast Research raised shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price for the company in a research note on Friday, June 7th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $252.75.

CDW 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.