DekaBank Deutsche Girozentrale Boosts Stock Position in CDW Co. (NASDAQ:CDW)

DekaBank Deutsche Girozentrale grew its holdings in shares of CDW Co. (NASDAQ:CDW) by 2.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,972 shares of the information technology services provider’s stock after buying an additional 1,460 shares during the period. DekaBank Deutsche Girozentrale’s holdings in CDW were worth $13,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Tsfg LLC purchased a new stake in CDW during the first quarter worth approximately $26,000. Rise Advisors LLC acquired a new stake in CDW during the first quarter worth approximately $34,000. Quest Partners LLC purchased a new stake in shares of CDW during the 2nd quarter worth approximately $35,000. ORG Partners LLC acquired a new position in shares of CDW in the 2nd quarter valued at $34,000. Finally, Summit Securities Group LLC purchased a new position in shares of CDW in the 2nd quarter valued at $40,000. 93.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at CDW

In other CDW news, insider Christine A. Leahy purchased 1,200 shares of CDW 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 directly owns 102,200 shares of the company’s stock, valued at $22,090,530. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Christine A. Leahy purchased 1,200 shares of the stock in a transaction dated 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 purchase, the insider now directly owns 102,200 shares in the company, valued at approximately $22,090,530. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 sale, the insider now 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.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CDW. Northcoast Research raised shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target for the company in a research report on Friday, June 7th. Stifel Nicolaus boosted 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 dropped their price target 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. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $254.63.

CDW Trading Up 0.7 %

NASDAQ:CDW opened at $220.15 on Monday. CDW Co. has a 12-month low of $185.04 and a 12-month high of $263.37. 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 stock’s 50 day simple moving average is $221.79 and its 200-day simple moving average is $230.65. The firm has a market cap of $29.41 billion, a P/E ratio of 27.48, a PEG ratio of 3.27 and a beta of 1.04.

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 the consensus estimate of $2.39 by ($0.05). CDW had a net margin of 5.29% and a return on equity of 62.22%. The firm had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same period in the prior year, the firm posted $2.43 earnings per share. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. Equities analysts anticipate that CDW Co. will post 9.4 EPS for the current year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were given a $0.62 dividend. The ex-dividend date was Monday, August 26th. This represents a $2.48 dividend on an annualized basis and a yield of 1.13%. CDW’s payout ratio is currently 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.