Perpetual Ltd Purchases New Shares in CDW Co. (NASDAQ:CDW)

Perpetual Ltd bought a new stake in shares of CDW Co. (NASDAQ:CDW - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 699,512 shares of the information technology services provider's stock, valued at approximately $158,300,000. CDW makes up approximately 1.7% of Perpetual Ltd's holdings, making the stock its 16th biggest holding. Perpetual Ltd owned 0.52% of CDW at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CDW. Tsfg LLC bought a new position in CDW during the first quarter valued at $26,000. Rise Advisors LLC bought a new position in CDW during the 1st quarter valued at about $34,000. ORG Partners LLC purchased a new stake in CDW in the 2nd quarter worth about $34,000. Quest Partners LLC bought a new stake in CDW in the second quarter worth about $35,000. Finally, Summit Securities Group LLC purchased a new position in shares of CDW during the second quarter valued at approximately $40,000. Institutional investors own 93.15% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on CDW shares. Stifel Nicolaus lifted their target price on CDW from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Wednesday, July 17th. Barclays decreased their price objective on shares of CDW from $232.00 to $229.00 and set an "equal weight" rating for the company in a report on Thursday, August 1st. Finally, Citigroup downgraded shares of CDW from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, CDW presently has a consensus rating of "Moderate Buy" and a consensus target price of $255.00.

Insider Transactions at CDW

In other CDW news, 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 transaction of $4,433,176.65. Following the transaction, the insider now owns 22,428 shares in the company, valued at approximately $5,392,812.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other CDW news, insider Sona Chawla sold 18,437 shares of CDW stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the completion of the sale, the insider now directly owns 22,428 shares in the company, valued at approximately $5,392,812.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Christine A. Leahy acquired 1,200 shares of the business's stock in a transaction dated Thursday, August 1st. The stock was acquired 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 of the company's stock, valued at approximately $22,090,530. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.90% of the company's stock.

CDW Stock Down 1.8 %

Shares of NASDAQ CDW traded down $4.01 during mid-day trading on Thursday, reaching $221.69. 992,277 shares of the company were exchanged, compared to its average volume of 813,864. CDW Co. has a 1 year low of $185.04 and a 1 year high of $263.37. The firm has a 50-day moving average of $219.99 and a 200 day moving average of $227.61. The stock has a market cap of $29.79 billion, a price-to-earnings ratio of 27.91, a P/E/G ratio of 3.40 and a beta of 1.03. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 2.03.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly 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). CDW had a net margin of 5.29% and a return on equity of 62.22%. The firm had revenue of $5.42 billion for the quarter, compared to analysts' expectations of $5.43 billion. During the same period in the previous year, the company posted $2.43 earnings per share. The business's quarterly revenue was down 3.6% compared to the same quarter last year. On average, research analysts expect that CDW Co. will post 9.4 earnings per share for the current year.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Monday, August 26th. CDW's dividend payout ratio is currently 30.96%.

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.