CDW Co. (NASDAQ:CDW) Position Lessened by Prudential PLC

Prudential PLC trimmed its position in shares of CDW Co. (NASDAQ:CDW) by 31.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,654 shares of the information technology services provider’s stock after selling 1,196 shares during the period. Prudential PLC’s holdings in CDW were worth $594,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tsfg LLC purchased a new stake in shares of CDW during the first quarter worth $26,000. Rise Advisors LLC bought a new position in CDW during the first quarter valued at about $34,000. Quest Partners LLC bought a new position in CDW during the second quarter valued at about $35,000. ORG Partners LLC bought a new position in CDW during the second quarter valued at about $34,000. Finally, Summit Securities Group LLC bought a new position in CDW during the second quarter valued at about $40,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CDW has been the topic of several recent research reports. Northcoast Research upgraded CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price on the stock in a report on Friday, June 7th. Stifel Nicolaus raised their target price on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Barclays cut their target price 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 investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $254.63.

CDW Trading Up 1.3 %

Shares of NASDAQ:CDW opened at $218.64 on Friday. The company has a market cap of $29.38 billion, a P/E ratio of 27.30, a P/E/G ratio of 3.22 and a beta of 1.04. The stock’s 50-day moving average is $221.71 and its 200-day moving average is $231.02. CDW Co. has a 52-week low of $185.04 and a 52-week high of $263.37. 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 (NASDAQ:CDW) last released its earnings results 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). CDW had a return on equity of 62.22% and a net margin of 5.29%. The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same period last year, the business earned $2.43 earnings per share. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. Equities research analysts predict that CDW Co. will post 9.4 earnings per share for the current 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 given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date was Monday, August 26th. CDW’s dividend payout ratio (DPR) is presently 30.96%.

Insider Buying and Selling

In other news, insider Christine A. Leahy bought 1,200 shares of the firm’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 completion of the transaction, the insider now directly owns 102,200 shares in the company, valued at $22,090,530. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other CDW news, insider Sona Chawla sold 18,437 shares of the firm’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 completion of the transaction, the insider now owns 22,428 shares in the company, valued at $5,392,812.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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, 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 $22,090,530. The disclosure for this purchase can be found here. 0.90% of the stock is owned by company 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.