Argent Capital Management LLC Sells 3,400 Shares of CDW Co. (NASDAQ:CDW)

Argent Capital Management LLC lowered its stake in CDW Co. (NASDAQ:CDW - Free Report) by 0.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 404,082 shares of the information technology services provider's stock after selling 3,400 shares during the quarter. CDW comprises approximately 2.7% of Argent Capital Management LLC's holdings, making the stock its 11th largest holding. Argent Capital Management LLC owned 0.30% of CDW worth $90,450,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CDW. Tsfg LLC bought a new stake in CDW in the first quarter valued at approximately $26,000. Larson Financial Group LLC bought a new stake in shares of CDW in the 4th quarter valued at $30,000. Rise Advisors LLC acquired a new stake in CDW during the 1st quarter worth $34,000. ORG Partners LLC bought a new position in CDW during the second quarter worth about $34,000. Finally, Continuum Advisory LLC grew its stake in CDW by 1,692.3% in the second quarter. Continuum Advisory LLC now owns 233 shares of the information technology services provider's stock valued at $52,000 after acquiring an additional 220 shares during the period. 93.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CDW shares. Citigroup cut their price objective on CDW from $295.00 to $260.00 and set a "buy" rating on the stock in a report on Thursday, May 2nd. 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. JPMorgan Chase & Co. cut their target price on CDW from $280.00 to $265.00 and set an "overweight" rating on the stock in a research note on Thursday, May 2nd. 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 research note on Thursday, August 1st. Finally, Stifel Nicolaus boosted their price objective on shares of CDW from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Wednesday, July 17th. Three equities research 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 presently has an average rating of "Moderate Buy" and a consensus price target of $254.63.

Insiders Place Their Bets

In other CDW news, insider Christine A. Leahy bought 1,200 shares of CDW stock in a transaction dated 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 completion of the transaction, the insider now owns 102,200 shares in the company, valued at approximately $22,090,530. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other CDW news, insider Christine A. Leahy bought 1,200 shares of the stock in a transaction dated Thursday, August 1st. The shares were bought at an average cost of $216.15 per share, with a total value of $259,380.00. Following the completion of the acquisition, the insider now owns 102,200 shares of the company's stock, valued at $22,090,530. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Sona Chawla sold 18,437 shares of the business'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 completion of the sale, the insider now owns 22,428 shares of the company's stock, valued at $5,392,812.60. The disclosure for this sale can be found here. Company insiders own 0.90% of the company's stock.

CDW Stock Performance

Shares of CDW stock traded up $4.55 during midday trading on Friday, hitting $229.74. 731,883 shares of the company were exchanged, compared to its average volume of 828,956. CDW Co. has a 52 week low of $185.04 and a 52 week high of $263.37. The firm has a market capitalization of $30.88 billion, a P/E ratio of 28.68, a PEG ratio of 3.17 and a beta of 1.04. The firm's 50 day moving average price is $223.27 and its two-hundred day moving average price is $233.13. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.13 and a current ratio of 1.13.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.43 billion. CDW had a return on equity of 62.22% and a net margin of 5.29%. The company's revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.43 EPS. As a group, equities research analysts anticipate that CDW Co. will post 9.6 earnings per share for the current year.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Monday, August 26th. CDW's dividend payout ratio is 30.96%.

CDW Company 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.