Summit Trail Advisors LLC Has $847,000 Position in CDW Co. (NASDAQ:CDW)

Summit Trail Advisors LLC lifted its stake in shares of CDW Co. (NASDAQ:CDW) by 36.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,785 shares of the information technology services provider’s stock after purchasing an additional 1,003 shares during the quarter. Summit Trail Advisors LLC’s holdings in CDW were worth $847,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Thrivent Financial for Lutherans grew its position in CDW by 2.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 531,877 shares of the information technology services provider’s stock worth $119,055,000 after acquiring an additional 13,485 shares during the last quarter. Sei Investments Co. raised its holdings in CDW by 10.6% in the 2nd quarter. Sei Investments Co. now owns 29,927 shares of the information technology services provider’s stock valued at $6,699,000 after buying an additional 2,867 shares during the last quarter. Pacer Advisors Inc. boosted its position in CDW by 71.7% during the 2nd quarter. Pacer Advisors Inc. now owns 27,757 shares of the information technology services provider’s stock worth $6,213,000 after buying an additional 11,592 shares during the period. Skandinaviska Enskilda Banken AB publ grew its holdings in CDW by 1.1% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 27,870 shares of the information technology services provider’s stock worth $6,235,000 after acquiring an additional 303 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in CDW by 2,045.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 294,302 shares of the information technology services provider’s stock valued at $65,877,000 after acquiring an additional 280,584 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CDW

In other CDW news, insider Sona Chawla sold 18,437 shares of the firm’s stock in a transaction 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 in the company, valued at $5,392,812.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other CDW news, insider Sona Chawla sold 18,437 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 22,428 shares in the company, valued at $5,392,812.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Christine A. Leahy acquired 1,200 shares of CDW stock in a transaction on Thursday, August 1st. The stock was purchased 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 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.

Analysts Set New Price Targets

A number of brokerages have recently commented on CDW. Northcoast Research upgraded shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target on the stock in a report on Friday, June 7th. Barclays reduced their price target on CDW from $232.00 to $229.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Finally, Stifel Nicolaus increased their price target on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. 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, the stock has an average rating of “Moderate Buy” and an average target price of $254.63.

CDW Stock Performance

Shares of CDW opened at $225.30 on Monday. 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 firm’s fifty day simple moving average is $222.12 and its two-hundred day simple moving average is $229.85. CDW Co. has a 12 month low of $185.04 and a 12 month high of $263.37. 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.

CDW (NASDAQ:CDW) last released its 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). The business 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%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.43 EPS. As a group, analysts predict that CDW Co. will post 9.4 EPS for the current year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders 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 is currently 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.