Pacer Advisors Inc. Purchases 11,592 Shares of CDW Co. (NASDAQ:CDW)

Pacer Advisors Inc. grew its position in shares of CDW Co. (NASDAQ:CDW) by 71.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,757 shares of the information technology services provider’s stock after buying an additional 11,592 shares during the quarter. Pacer Advisors Inc.’s holdings in CDW were worth $6,213,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Acadian Asset Management LLC lifted its position in shares of CDW by 211.5% during the 1st quarter. Acadian Asset Management LLC now owns 44,205 shares of the information technology services provider’s stock worth $11,302,000 after buying an additional 30,012 shares in the last quarter. Rafferty Asset Management LLC raised its holdings in shares of CDW by 157.3% in the 4th quarter. Rafferty Asset Management LLC now owns 90,362 shares of the information technology services provider’s stock worth $20,541,000 after purchasing an additional 55,239 shares during the period. Insight Wealth Strategies LLC bought a new stake in shares of CDW in the 1st quarter worth approximately $3,940,000. Madison Asset Management LLC raised its holdings in shares of CDW by 2.8% in the 4th quarter. Madison Asset Management LLC now owns 374,505 shares of the information technology services provider’s stock worth $85,132,000 after purchasing an additional 10,183 shares during the period. Finally, Grayhawk Investment Strategies Inc. bought a new stake in shares of CDW in the 4th quarter worth approximately $854,000. Institutional investors own 93.15% of the company’s stock.

CDW Stock Down 0.5 %

CDW opened at $224.11 on Tuesday. The company has a fifty day moving average price of $221.95 and a 200-day moving average price of $229.68. The firm has a market capitalization of $30.12 billion, a P/E ratio of 27.98, 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 current ratio of 1.13 and a quick ratio of 1.02. CDW Co. has a one year low of $185.04 and a one year 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 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 net margin of 5.29% and a return on equity of 62.22%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.43 earnings per share. Equities research analysts expect that CDW Co. will post 9.4 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.11%. CDW’s dividend payout ratio (DPR) is currently 30.96%.

Insider Buying and Selling

In related news, insider Christine A. Leahy bought 1,200 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was bought at an average cost of $216.15 per share, for a total transaction of $259,380.00. Following the completion of the transaction, the insider now owns 102,200 shares of the company’s stock, valued at $22,090,530. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Sona Chawla sold 18,437 shares of the company’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 transaction, the insider now directly owns 22,428 shares in the company, valued at $5,392,812.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christine A. Leahy purchased 1,200 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were acquired at an average price of $216.15 per share, with a total value of $259,380.00. Following the completion of the transaction, the insider now owns 102,200 shares of the company’s stock, valued at $22,090,530. The disclosure for this purchase can be found here. 0.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Stifel Nicolaus lifted their price target on shares of CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Northcoast Research raised 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. Finally, Barclays lowered their price target on shares of CDW from $232.00 to $229.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $254.63.

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.