CDW Co. (NASDAQ:CDW) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC decreased its holdings in CDW Co. (NASDAQ:CDW) by 9.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 169,655 shares of the information technology services provider’s stock after selling 17,788 shares during the quarter. ProShare Advisors LLC owned approximately 0.13% of CDW worth $37,976,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Aaron Wealth Advisors LLC raised its holdings in shares of CDW by 2.8% during the 1st quarter. Aaron Wealth Advisors LLC now owns 1,540 shares of the information technology services provider’s stock valued at $394,000 after buying an additional 42 shares during the period. Massmutual Trust Co. FSB ADV grew its stake in shares of CDW by 5.9% in the first quarter. Massmutual Trust Co. FSB ADV now owns 767 shares of the information technology services provider’s stock worth $196,000 after purchasing an additional 43 shares in the last quarter. RDA Financial Network increased its holdings in shares of CDW by 3.0% during the second quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider’s stock valued at $355,000 after purchasing an additional 46 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of CDW by 1.4% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,446 shares of the information technology services provider’s stock valued at $881,000 after purchasing an additional 47 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in CDW by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 11,541 shares of the information technology services provider’s stock worth $2,583,000 after purchasing an additional 54 shares during the period. 93.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CDW shares. Stifel Nicolaus lifted their target price on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. 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. Finally, Barclays reduced their price target on shares of CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $254.63.

CDW Stock Performance

NASDAQ:CDW opened at $225.30 on Monday. The firm has a 50 day moving average of $222.12 and a 200-day moving average of $229.85. 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 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 Co. has a 1 year low of $185.04 and a 1 year high of $263.37.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.39 by ($0.05). CDW had a return on equity of 62.22% and a net margin of 5.29%. The firm had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the prior year, the firm posted $2.43 earnings per share. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that CDW Co. will post 9.4 EPS for the current fiscal year.

CDW Dividend Announcement

The business 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 annualized dividend and a dividend yield of 1.10%. CDW’s payout ratio is currently 30.96%.

Insider Buying and Selling at CDW

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 transaction of $4,433,176.65. Following the transaction, the insider now owns 22,428 shares in the company, valued at approximately $5,392,812.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Christine A. Leahy acquired 1,200 shares of the company’s stock in a transaction dated 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 purchase, the insider now directly 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 can be accessed through the SEC website. 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 transaction 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 disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

About CDW

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.