Certuity LLC Invests $2.27 Million in CDW Co. (NASDAQ:CDW)

Certuity LLC 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 10,123 shares of the information technology services provider's stock, valued at approximately $2,266,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Aaron Wealth Advisors LLC grew its stake in shares of CDW by 2.8% during the first quarter. Aaron Wealth Advisors LLC now owns 1,540 shares of the information technology services provider's stock valued at $394,000 after acquiring an additional 42 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of CDW by 5.9% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 767 shares of the information technology services provider's stock valued at $196,000 after purchasing an additional 43 shares in the last quarter. RDA Financial Network boosted its stake in shares of CDW by 3.0% during the 2nd quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider's stock valued at $355,000 after buying an additional 46 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in shares of CDW by 1.4% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,446 shares of the information technology services provider's stock worth $881,000 after buying an additional 47 shares in the last quarter. Finally, Prestige Wealth Management Group LLC increased its stake in shares of CDW by 6.4% in the fourth quarter. Prestige Wealth Management Group LLC now owns 811 shares of the information technology services provider's stock worth $184,000 after buying an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CDW. Stifel Nicolaus increased their price objective on shares of CDW from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Wednesday, July 17th. Barclays decreased their price target on 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, Northcoast Research upgraded CDW from a "neutral" rating to a "buy" rating and set a $270.00 price objective on the stock in a research note on Friday, June 7th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $254.63.

CDW Stock Performance

Shares of NASDAQ:CDW traded down $2.61 during trading on Friday, hitting $212.21. 709,034 shares of the company traded hands, compared to its average volume of 834,884. 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 business's fifty day moving average is $221.91 and its 200-day moving average is $231.67. The stock has a market capitalization of $28.52 billion, a price-to-earnings ratio of 26.49, a PEG ratio of 3.42 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 - Get Free Report) last posted its earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.05). The firm had revenue of $5.42 billion during 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%. CDW's revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the company posted $2.43 EPS. As a group, equities analysts predict that CDW Co. will post 9.4 earnings per share for the current fiscal year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 26th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Monday, August 26th. CDW's dividend payout ratio is currently 30.96%.

Insiders Place Their Bets

In related news, insider Sona Chawla sold 18,437 shares of the business's stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the sale, the insider now owns 22,428 shares of the company's stock, valued at $5,392,812.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Sona Chawla sold 18,437 shares of CDW stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the transaction, the insider now directly 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 available through this hyperlink. Also, insider Christine A. Leahy purchased 1,200 shares of the business's stock in a transaction 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 completion of the acquisition, the insider now directly owns 102,200 shares in the company, valued at approximately $22,090,530. The disclosure for this purchase can be found here. 0.90% of the stock is owned by insiders.

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.