Van ECK Associates Corp Makes New $4.96 Million Investment in CDW Co. (NASDAQ:CDW)

Van ECK Associates Corp acquired a new position in shares of CDW Co. (NASDAQ:CDW - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 22,178 shares of the information technology services provider's stock, valued at approximately $4,964,000.

Several other institutional investors and hedge funds also recently modified their holdings of CDW. Tsfg LLC acquired a new position in CDW in the 1st quarter worth $26,000. Rise Advisors LLC acquired a new position in shares of CDW in the first quarter worth about $34,000. ORG Partners LLC purchased a new position in CDW in the second quarter valued at about $34,000. Summit Securities Group LLC purchased a new position in CDW in the second quarter valued at about $40,000. Finally, Continuum Advisory LLC grew its stake in CDW by 1,692.3% during the 2nd quarter. Continuum Advisory LLC now owns 233 shares of the information technology services provider's stock valued at $52,000 after purchasing an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.

Insider Activity at CDW

In other CDW news, insider Christine A. Leahy acquired 1,200 shares of the firm's stock in a transaction that occurred on Thursday, August 1st. The stock was acquired at an average cost of $216.15 per share, with a total value of $259,380.00. Following the acquisition, the insider now directly owns 102,200 shares of the company's stock, valued at approximately $22,090,530. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Sona Chawla sold 18,437 shares of the business's stock in a transaction on 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 sale, the insider now owns 22,428 shares of the company's stock, valued at approximately $5,392,812.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christine A. Leahy acquired 1,200 shares of the business's stock in a transaction dated Thursday, August 1st. The stock was purchased at an average price of $216.15 per share, with a total value of $259,380.00. Following the acquisition, 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 currently owned by insiders.

Wall Street Analysts Forecast Growth

CDW has been the subject of several research analyst reports. Stifel Nicolaus increased their target price on CDW from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Wednesday, July 17th. Barclays reduced their price objective on shares of CDW from $232.00 to $229.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 1st. Finally, Northcoast Research raised shares of CDW from a "neutral" rating to a "buy" rating and set a $270.00 target price for the company in a research report on Friday, June 7th. Three investment 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 company presently has an average rating of "Moderate Buy" and an average target price of $254.63.

CDW Stock Performance

Shares of NASDAQ:CDW traded down $3.19 during trading on Wednesday, reaching $214.48. 810,338 shares of the company's stock traded hands, compared to its average volume of 835,981. The stock has a market capitalization of $28.83 billion, a P/E ratio of 26.78, a price-to-earnings-growth ratio of 3.42 and a beta of 1.04. CDW Co. has a 12 month low of $185.04 and a 12 month high of $263.37. The company has a 50 day moving average of $222.33 and a 200-day moving average of $232.13. 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 (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share 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 company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same quarter in the previous year, the company posted $2.43 earnings per share. The firm's revenue for the quarter was down 3.6% compared to the same quarter last year. On average, equities analysts expect that CDW Co. will post 9.4 EPS for the current year.

CDW Dividend Announcement

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. The ex-dividend date of this dividend is Monday, August 26th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.16%. 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.