CDW Co. (NASDAQ:CDW) Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. increased its stake in shares of CDW Co. (NASDAQ:CDW) by 2.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,306 shares of the information technology services provider’s stock after acquiring an additional 1,167 shares during the period. QRG Capital Management Inc.’s holdings in CDW were worth $12,380,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Aaron Wealth Advisors LLC raised its position in shares of CDW by 2.8% in the first quarter. Aaron Wealth Advisors LLC now owns 1,540 shares of the information technology services provider’s stock worth $394,000 after acquiring an additional 42 shares during the period. Massmutual Trust Co. FSB ADV raised its holdings in CDW by 5.9% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 767 shares of the information technology services provider’s stock worth $196,000 after purchasing an additional 43 shares during the period. RDA Financial Network boosted its position in CDW by 3.0% during the second quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider’s stock worth $355,000 after purchasing an additional 46 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in CDW by 1.4% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,446 shares of the information technology services provider’s stock valued at $881,000 after purchasing an additional 47 shares during the period. Finally, Prestige Wealth Management Group LLC increased its position in shares of CDW by 6.4% in the fourth quarter. Prestige Wealth Management Group LLC now owns 811 shares of the information technology services provider’s stock valued at $184,000 after buying an additional 49 shares in the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CDW shares. JPMorgan Chase & Co. cut their target price on shares of CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Citigroup reduced their target price on CDW from $295.00 to $260.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Northcoast Research raised CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target on the stock in a research note on Friday, June 7th. Stifel Nicolaus increased their price objective on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, Barclays lowered their target price on shares of CDW from $232.00 to $229.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $254.63.

Insider Activity at CDW

In other news, insider Sona Chawla sold 18,437 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 22,428 shares in the company, valued at $5,392,812.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Christine A. Leahy purchased 1,200 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was acquired at an average price of $216.15 per share, for a total transaction of $259,380.00. Following the acquisition, the insider now directly owns 102,200 shares of the company’s stock, valued at approximately $22,090,530. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Sona Chawla sold 18,437 shares of the 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 directly owns 22,428 shares of the company’s stock, valued at $5,392,812.60. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

CDW Stock Up 0.7 %

Shares of CDW traded up $1.42 during midday trading on Friday, reaching $213.73. The stock had a trading volume of 567,426 shares, compared to its average volume of 816,021. The company has a market cap of $28.72 billion, a price-to-earnings ratio of 26.68, a PEG ratio of 3.17 and a beta of 1.04. The company’s fifty day simple moving average is $223.82 and its two-hundred day simple moving average is $233.72. CDW Co. has a 1-year low of $185.04 and a 1-year high of $263.37. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.13 and a quick ratio of 1.13.

CDW (NASDAQ:CDW) last issued 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). 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% on a year-over-year basis. During the same period last year, the business posted $2.43 EPS. Equities research analysts expect that CDW Co. will post 9.6 earnings per share for the current year.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Monday, August 26th. CDW’s payout ratio is currently 30.96%.

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.