Ieq Capital LLC Buys 508 Shares of CDW Co. (NASDAQ:CDW)

Ieq Capital LLC grew its position in CDW Co. (NASDAQ:CDW) by 4.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,424 shares of the information technology services provider’s stock after purchasing an additional 508 shares during the quarter. Ieq Capital LLC’s holdings in CDW were worth $2,557,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CDW. Wellington Management Group LLP boosted its holdings in CDW by 29.1% in the 4th quarter. Wellington Management Group LLP now owns 3,464,886 shares of the information technology services provider’s stock valued at $787,638,000 after purchasing an additional 781,421 shares during the period. Vanguard Group Inc. raised its holdings in CDW by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider’s stock valued at $4,196,721,000 after acquiring an additional 714,393 shares in the last quarter. Lazard Asset Management LLC raised its holdings in CDW by 225.9% in the 1st quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider’s stock valued at $225,491,000 after acquiring an additional 611,054 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of CDW by 627.3% during the 4th quarter. First Trust Advisors LP now owns 625,781 shares of the information technology services provider’s stock worth $142,252,000 after purchasing an additional 539,745 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of CDW during the fourth quarter valued at approximately $111,736,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CDW has been the subject of several research reports. Stifel Nicolaus raised their target price on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Northcoast Research raised shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price on the stock in a research note on Friday, June 7th. Finally, Barclays decreased their price objective 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 equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $254.63.

Insider Activity

In related news, insider Sona Chawla sold 18,437 shares of CDW stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total value of $4,433,176.65. Following the completion of the sale, the insider now directly owns 22,428 shares in the company, valued at $5,392,812.60. The sale 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 CDW stock in a transaction dated Thursday, August 1st. The shares were acquired at an average cost of $216.15 per share, for a total transaction of $259,380.00. Following the transaction, the insider now directly owns 102,200 shares of the company’s stock, valued at $22,090,530. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sona Chawla sold 18,437 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $240.45, for a total value 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 currently owned by insiders.

CDW Stock Down 1.1 %

Shares of NASDAQ CDW opened at $225.30 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 2.03. The company has a market cap of $30.28 billion, a price-to-earnings ratio of 28.13, a price-to-earnings-growth ratio of 3.27 and a beta of 1.04. CDW Co. has a 12-month low of $185.04 and a 12-month high of $263.37. The firm’s 50-day simple moving average is $222.12 and its 200 day simple moving average is $229.97.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 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 company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same period last year, the company earned $2.43 earnings per share. CDW’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, research analysts expect that CDW Co. will post 9.4 earnings per share for the current fiscal year.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.10%. 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.