Great Lakes Advisors LLC Reduces Stock Position in CDW Co. (NASDAQ:CDW)

Great Lakes Advisors LLC lowered its position in CDW Co. (NASDAQ:CDW - Free Report) by 43.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,845 shares of the information technology services provider's stock after selling 16,476 shares during the quarter. Great Lakes Advisors LLC's holdings in CDW were worth $4,890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of CDW. Aaron Wealth Advisors LLC boosted its stake in shares of CDW by 2.8% in the 1st quarter. Aaron Wealth Advisors LLC now owns 1,540 shares of the information technology services provider's stock valued at $394,000 after purchasing an additional 42 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in shares of CDW by 5.9% in the first quarter. Massmutual Trust Co. FSB ADV now owns 767 shares of the information technology services provider's stock worth $196,000 after buying an additional 43 shares during the period. RDA Financial Network lifted its stake in shares of CDW by 3.0% in the 2nd quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider's stock valued at $355,000 after acquiring an additional 46 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of CDW by 1.4% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,446 shares of the information technology services provider's stock valued at $881,000 after acquiring an additional 47 shares during the last quarter. Finally, Prestige Wealth Management Group LLC boosted its holdings in CDW by 6.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 811 shares of the information technology services provider's stock valued at $184,000 after acquiring an additional 49 shares during the period. Hedge funds and other institutional investors own 93.15% of the company's stock.

Insiders Place Their Bets

In other news, insider Christine A. Leahy purchased 1,200 shares of the company's stock in a transaction that occurred on Thursday, August 1st. The shares were bought at an average price of $216.15 per share, for a total transaction of $259,380.00. Following the purchase, the insider now directly owns 102,200 shares in the company, valued at approximately $22,090,530. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 completion of the transaction, the insider now owns 22,428 shares in the company, valued at $5,392,812.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christine A. Leahy purchased 1,200 shares of the stock in a transaction dated Thursday, August 1st. The shares were acquired at an average cost of $216.15 per share, for a total transaction 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 disclosure for this purchase can be found here. Corporate insiders own 0.90% of the company's stock.

CDW Stock Up 0.9 %

CDW stock traded up $1.93 on Monday, hitting $214.14. 623,116 shares of the stock traded hands, compared to its average volume of 833,660. The business's fifty day simple moving average is $221.91 and its 200 day simple moving average is $231.67. The firm has a market cap of $28.60 billion, a P/E ratio of 26.49, a price-to-earnings-growth ratio of 3.22 and a beta of 1.04. The company has a current ratio of 1.13, a quick ratio of 1.02 and a debt-to-equity ratio of 2.03. CDW Co. has a 1 year low of $185.04 and a 1 year high of $263.37.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $5.42 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. As a group, sell-side analysts forecast that CDW Co. will post 9.4 earnings per share for the current year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders 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 yield of 1.16%. The ex-dividend date is Monday, August 26th. CDW's payout ratio is 30.96%.

Analyst Ratings Changes

A number of brokerages have commented on CDW. Barclays decreased their price target on CDW from $232.00 to $229.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 1st. Stifel Nicolaus upped their price target on shares of CDW from $250.00 to $260.00 and gave the company a "buy" rating in a report on Wednesday, July 17th. Finally, Northcoast Research raised shares of CDW from a "neutral" rating to a "buy" rating and set a $270.00 price target on the stock in a 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $254.63.

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.