Thrivent Financial for Lutherans Has $119.06 Million Position in CDW Co. (NASDAQ:CDW)

Thrivent Financial for Lutherans lifted its position in shares of CDW Co. (NASDAQ:CDW) by 2.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 531,877 shares of the information technology services provider’s stock after purchasing an additional 13,485 shares during the period. Thrivent Financial for Lutherans owned 0.40% of CDW worth $119,055,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CDW. Tsfg LLC acquired a new position in shares of CDW in the first quarter valued at $26,000. Rise Advisors LLC bought a new position in CDW in the 1st quarter valued at about $34,000. Quest Partners LLC bought a new stake in shares of CDW during the second quarter worth approximately $35,000. ORG Partners LLC acquired a new position in shares of CDW in the second quarter valued at approximately $34,000. Finally, Summit Securities Group LLC acquired a new stake in CDW during the 2nd quarter worth approximately $40,000. 93.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CDW shares. Northcoast Research raised shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 price objective for the company in a report on Friday, June 7th. Barclays cut their price target on CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Finally, Stifel Nicolaus raised their price objective on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $254.63.

Insider Buying and Selling

In other CDW news, insider Christine A. Leahy purchased 1,200 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was purchased at an average price of $216.15 per share, with a total value of $259,380.00. Following the completion of the purchase, the insider now owns 102,200 shares of the company’s stock, valued at $22,090,530. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other 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 transaction, the insider now directly owns 22,428 shares of the company’s stock, valued at approximately $5,392,812.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Christine A. Leahy purchased 1,200 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was acquired at an average cost 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 of the company’s stock, valued at approximately $22,090,530. The disclosure for this purchase can be found here. 0.90% of the stock is owned by corporate insiders.

CDW Price Performance

CDW stock opened at $225.30 on Friday. The stock has a fifty day moving average of $222.12 and a 200-day moving average of $230.08. The stock has a market capitalization of $30.28 billion, a P/E ratio of 28.13, a price-to-earnings-growth 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 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 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). The company 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 for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.43 earnings per share. On average, sell-side analysts expect that CDW Co. will post 9.4 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were issued 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 1.10%. CDW’s dividend payout ratio (DPR) is presently 30.96%.

CDW 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.