DRW Securities LLC Invests $287,000 in CDW Co. (NASDAQ:CDW)

DRW Securities LLC bought a new stake in shares of CDW Co. (NASDAQ:CDW) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,280 shares of the information technology services provider’s stock, valued at approximately $287,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Tsfg LLC purchased a new position in CDW in the 1st quarter worth approximately $26,000. Rise Advisors LLC purchased a new stake in shares of CDW during the first quarter valued at approximately $34,000. ORG Partners LLC bought a new position in shares of CDW in the second quarter worth approximately $34,000. Quest Partners LLC purchased a new position in shares of CDW in the second quarter worth $35,000. Finally, Summit Securities Group LLC bought a new stake in CDW during the 2nd quarter valued at $40,000. Institutional investors own 93.15% of the company’s stock.

Insider Transactions at CDW

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

Analyst Upgrades and Downgrades

CDW has been the topic of a number of recent analyst reports. Barclays cut 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. Stifel Nicolaus boosted their price target 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 for the company in a report on Friday, June 7th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $254.63.

CDW Stock Performance

Shares of CDW opened at $224.11 on Tuesday. The company has a 50-day simple moving average of $221.95 and a two-hundred day simple moving average of $229.68. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.13 and a quick ratio of 1.02. The firm has a market capitalization of $30.12 billion, a PE ratio of 27.98, a price-to-earnings-growth ratio of 3.27 and a beta of 1.04. CDW Co. has a one year low of $185.04 and a one year high of $263.37.

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 analysts’ consensus estimates of $2.39 by ($0.05). The firm had revenue of $5.42 billion during 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 company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.43 EPS. On average, analysts anticipate that CDW Co. will post 9.4 EPS for the current fiscal year.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend was Monday, August 26th. 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.