Sequoia Financial Advisors LLC Has $4.34 Million Stock Position in CDW Co. (NASDAQ:CDW)

Sequoia Financial Advisors LLC cut its holdings in shares of CDW Co. (NASDAQ:CDW - Free Report) by 12.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,172 shares of the information technology services provider's stock after selling 2,784 shares during the period. Sequoia Financial Advisors LLC's holdings in CDW were worth $4,339,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Tsfg LLC purchased a new position in shares of CDW in the first quarter worth approximately $26,000. Quest Partners LLC acquired a new stake in shares of CDW in the second quarter worth $35,000. ORG Partners LLC purchased a new position in shares of CDW during the second quarter valued at $34,000. Summit Securities Group LLC acquired a new position in CDW during the second quarter valued at $40,000. Finally, Continuum Advisory LLC lifted its stake in CDW by 1,692.3% in the 2nd quarter. Continuum Advisory LLC now owns 233 shares of the information technology services provider's stock worth $52,000 after acquiring an additional 220 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Stock Performance

NASDAQ:CDW opened at $217.08 on Wednesday. The firm has a market capitalization of $29.18 billion, a PE ratio of 27.10, a PEG ratio of 3.42 and a beta of 1.03. 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. The firm's fifty day simple moving average is $221.65 and its 200 day simple moving average is $225.26.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 EPS 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 for the quarter, compared to analyst estimates of $5.43 billion. During the same quarter last year, the firm earned $2.43 earnings per share. The firm's quarterly revenue was down 3.6% compared to the same quarter last year. On average, sell-side analysts anticipate that CDW Co. will post 9.4 EPS for the current year.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend was Monday, August 26th. CDW's dividend payout ratio is presently 30.96%.

Analyst Ratings Changes

Several analysts recently commented on the stock. 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 report on Thursday, August 1st. Stifel Nicolaus lifted their price objective on CDW from $250.00 to $260.00 and gave the company a "buy" rating in a research report on Wednesday, July 17th. Finally, Citigroup downgraded CDW from a "buy" rating to a "neutral" rating and cut their price target for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $255.00.

Insider Activity at CDW

In other CDW news, insider Christine A. Leahy purchased 1,200 shares of the stock in a transaction on Thursday, August 1st. The shares were purchased at an average price 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 $22,090,530. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.90% of the stock is currently owned by corporate insiders.

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.