CDW Co. (NASDAQ:CDW) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. lowered its stake in CDW Co. (NASDAQ:CDW) by 40.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,899 shares of the information technology services provider’s stock after selling 3,281 shares during the period. Edgestream Partners L.P.’s holdings in CDW were worth $1,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Tsfg LLC acquired a new stake in CDW in the 1st quarter valued at about $26,000. Rise Advisors LLC acquired a new stake in CDW in the 1st quarter valued at about $34,000. ORG Partners LLC acquired a new stake in CDW in the 2nd quarter valued at about $34,000. Quest Partners LLC acquired a new stake in CDW in the 2nd quarter valued at about $35,000. Finally, Summit Securities Group LLC purchased a new position in shares of CDW in the 2nd quarter valued at about $40,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Trading Down 1.1 %

NASDAQ:CDW opened at $225.30 on Friday. The stock’s 50 day moving average price is $222.12 and its 200 day moving average price is $230.08. The company has a market capitalization of $30.28 billion, a PE ratio of 28.13, a P/E/G ratio of 3.27 and a beta of 1.04. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 2.03. CDW Co. has a 52-week low of $185.04 and a 52-week high of $263.37.

CDW (NASDAQ:CDW) last released its quarterly earnings results 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). The firm had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.43 billion. CDW had a return on equity of 62.22% and a net margin of 5.29%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.43 EPS. On average, research analysts anticipate that CDW Co. will post 9.4 EPS for the current year.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were paid a $0.62 dividend. The ex-dividend date was Monday, August 26th. This represents a $2.48 annualized dividend and a dividend yield of 1.10%. CDW’s dividend payout ratio (DPR) is currently 30.96%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Barclays dropped 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. Stifel Nicolaus increased their price objective on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Northcoast Research upgraded CDW from a “neutral” rating to a “buy” rating and set a $270.00 price objective on the stock in a report on Friday, June 7th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $254.63.

Insider Buying and Selling at CDW

In related news, insider Christine A. Leahy bought 1,200 shares of the stock in a transaction on Thursday, August 1st. The shares were bought at an average cost of $216.15 per share, for a total transaction of $259,380.00. Following the purchase, the insider now owns 102,200 shares of the company’s stock, valued at approximately $22,090,530. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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. Also, 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 value 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. Company insiders own 0.90% of the company’s stock.

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.