Raymond James & Associates Sells 3,299 Shares of CDW Co. (NASDAQ:CDW)

Raymond James & Associates decreased its position in CDW Co. (NASDAQ:CDW) by 2.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 136,412 shares of the information technology services provider’s stock after selling 3,299 shares during the period. Raymond James & Associates owned 0.10% of CDW worth $30,870,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of CDW by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider’s stock valued at $4,196,721,000 after purchasing an additional 714,393 shares during the period. Perpetual Ltd bought a new stake in CDW in the third quarter valued at about $158,300,000. Lazard Asset Management LLC lifted its stake in CDW by 225.9% in the first quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider’s stock valued at $225,491,000 after buying an additional 611,054 shares during the period. Ceredex Value Advisors LLC bought a new position in CDW during the second quarter worth about $79,549,000. Finally, Canada Pension Plan Investment Board grew its position in shares of CDW by 2,045.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 294,302 shares of the information technology services provider’s stock worth $65,877,000 after buying an additional 280,584 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Stock Up 0.3 %

CDW stock opened at $217.65 on Thursday. CDW Co. has a twelve month low of $185.04 and a twelve month high of $263.37. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 2.03. The company has a 50 day moving average of $221.67 and a 200-day moving average of $225.21. The stock has a market capitalization of $29.25 billion, a PE ratio of 27.17, a price-to-earnings-growth ratio of 3.42 and a beta of 1.03.

CDW (NASDAQ:CDW) last released its earnings results 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). 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 quarter last year, the company posted $2.43 EPS. CDW’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities research analysts anticipate that CDW Co. will post 9.4 EPS for the current fiscal year.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Monday, August 26th. CDW’s dividend payout ratio (DPR) is currently 30.96%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CDW shares. Stifel Nicolaus increased their price target on shares of CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and cut their target price for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Finally, Barclays decreased their price target on shares of CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $255.00.

Insider Transactions at CDW

In other CDW news, insider Christine A. Leahy acquired 1,200 shares of the business’s stock in a transaction dated 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 directly owns 102,200 shares in the company, valued at $22,090,530. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company 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.