Xponance Inc. Has $7.17 Million Stock Position in CDW Co. (NASDAQ:CDW)

Xponance Inc. lessened its position in shares of CDW Co. (NASDAQ:CDW) by 10.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 32,025 shares of the information technology services provider’s stock after selling 3,878 shares during the quarter. Xponance Inc.’s holdings in CDW were worth $7,168,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in shares of CDW by 29.1% during 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 in the last quarter. Vanguard Group Inc. grew its position in shares of CDW by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider’s stock worth $4,196,721,000 after buying an additional 714,393 shares during the period. Lazard Asset Management LLC increased its stake in shares of 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 lifted its position 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 valued at $142,252,000 after acquiring an additional 539,745 shares during the period. Finally, Ceredex Value Advisors LLC bought a new position in CDW during the second quarter worth $79,549,000. Institutional investors own 93.15% of the company’s stock.

Insiders Place Their Bets

In other news, insider Christine A. Leahy bought 1,200 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were purchased at an average price of $216.15 per share, for a total transaction of $259,380.00. Following the completion of the purchase, the insider now owns 102,200 shares in the company, valued at approximately $22,090,530. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Christine A. Leahy acquired 1,200 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were bought at an average price of $216.15 per share, for a total transaction 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. Also, insider Sona Chawla sold 18,437 shares of the stock in a transaction on Tuesday, July 16th. The stock was 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 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. Corporate insiders own 0.90% of the company’s stock.

CDW Stock Performance

NASDAQ CDW opened at $224.11 on Tuesday. The company has a fifty day moving average of $221.95 and a 200-day moving average of $229.68. CDW Co. has a 52-week low of $185.04 and a 52-week high of $263.37. The company has a market capitalization of $30.12 billion, a P/E ratio of 27.98, a P/E/G ratio of 3.27 and a beta of 1.04. 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 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). 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 analysts’ expectations of $5.43 billion. During the same quarter in the previous year, the firm posted $2.43 EPS. CDW’s revenue was down 3.6% compared to the same quarter last year. As a group, equities research analysts predict that CDW Co. will post 9.4 EPS for the current fiscal year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend was Monday, August 26th. CDW’s dividend payout ratio (DPR) is presently 30.96%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus upped 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. Barclays cut their price target on shares of CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. Finally, 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 report on Friday, June 7th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $254.63.

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.