CDW Co. (NASDAQ:CDW) Shares Purchased by Raymond James & Associates

Raymond James & Associates lifted its position in shares of CDW Co. (NASDAQ:CDW - Free Report) by 16.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 139,711 shares of the information technology services provider's stock after buying an additional 19,867 shares during the period. Raymond James & Associates owned about 0.10% of CDW worth $31,273,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CDW. Tsfg LLC purchased a new position in shares of CDW during the 1st quarter valued at about $26,000. Larson Financial Group LLC purchased a new position in shares of CDW during the 4th quarter valued at about $30,000. Rise Advisors LLC purchased a new position in shares of CDW during the 1st quarter valued at about $34,000. ORG Partners LLC purchased a new position in shares of CDW during the 2nd quarter valued at about $34,000. Finally, Scarborough Advisors LLC purchased a new position in shares of CDW during the 4th quarter valued at about $58,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CDW

In other news, insider Sona Chawla sold 18,437 shares of the company's stock in a transaction dated 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 completion of the transaction, the insider now owns 22,428 shares of the company's stock, valued at $5,392,812.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other CDW news, insider Christine A. Leahy bought 1,200 shares of the business's stock in a transaction dated Thursday, August 1st. The shares were purchased at an average price of $216.15 per share, with a total value of $259,380.00. Following the completion of the purchase, the insider now owns 102,200 shares in the company, valued at approximately $22,090,530. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Sona Chawla sold 18,437 shares of the company's stock in a transaction that occurred 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 directly owns 22,428 shares in the company, valued at approximately $5,392,812.60. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CDW has been the topic of a number of research reports. Northcoast Research raised 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. JPMorgan Chase & Co. reduced their price target on CDW from $280.00 to $265.00 and set an "overweight" rating on the stock in a research report on Thursday, May 2nd. Citigroup reduced their price target on CDW from $295.00 to $260.00 and set a "buy" rating on the stock in a research report on Thursday, May 2nd. 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 raised their price target on CDW from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Wednesday, July 17th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $254.63.

CDW Trading Up 1.7 %

Shares of CDW stock traded up $3.79 during trading hours on Wednesday, reaching $224.94. The company's stock had a trading volume of 546,044 shares, compared to its average volume of 827,430. CDW Co. has a one year low of $185.04 and a one year high of $263.37. The firm's fifty day simple moving average is $223.16 and its 200 day simple moving average is $233.23. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.03. The stock has a market capitalization of $30.23 billion, a P/E ratio of 27.61, a P/E/G ratio of 3.17 and a beta of 1.04.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $5.42 billion during the quarter, compared to analysts' expectations of $5.43 billion. During the same quarter in the prior year, the firm earned $2.43 EPS. The firm's revenue for the quarter was down 3.6% compared to the same quarter last year. Equities research analysts expect that CDW Co. will post 9.6 EPS for the current year.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 26th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Monday, August 26th. CDW's 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.