Argent Capital Management LLC Sells 371,063 Shares of CDW Co. (NASDAQ:CDW)

Argent Capital Management LLC lowered its holdings in shares of CDW Co. (NASDAQ:CDW - Free Report) by 91.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,019 shares of the information technology services provider's stock after selling 371,063 shares during the quarter. Argent Capital Management LLC's holdings in CDW were worth $7,472,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. RDA Financial Network increased its holdings in CDW by 3.0% in the 2nd quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider's stock worth $355,000 after acquiring an additional 46 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its holdings in 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 worth $881,000 after acquiring an additional 47 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in CDW by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 11,541 shares of the information technology services provider's stock worth $2,583,000 after acquiring an additional 54 shares in the last quarter. Smithfield Trust Co increased its holdings in CDW by 4.1% in the 1st quarter. Smithfield Trust Co now owns 1,434 shares of the information technology services provider's stock worth $367,000 after acquiring an additional 57 shares in the last quarter. Finally, Profund Advisors LLC grew its holdings in CDW by 0.5% during the 2nd quarter. Profund Advisors LLC now owns 12,469 shares of the information technology services provider's stock valued at $2,791,000 after buying an additional 58 shares in 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 equities research analysts have issued reports on the stock. 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 report on Wednesday, July 17th. Citigroup lowered shares of CDW from a "buy" rating to a "neutral" rating and cut their price objective for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Finally, Barclays cut 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. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $255.00.

Insiders Place Their Bets

In other news, insider Christine A. Leahy acquired 1,200 shares of the company's stock in a transaction on Thursday, August 1st. The stock was bought at an average cost of $216.15 per share, with a total value of $259,380.00. Following the completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.90% of the stock is owned by insiders.

CDW Price Performance

Shares of NASDAQ CDW traded up $1.51 during midday trading on Thursday, reaching $219.16. 477,475 shares of the stock traded hands, compared to its average volume of 813,628. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.13 and a quick ratio of 1.02. The stock has a market capitalization of $29.45 billion, a PE ratio of 27.41, a P/E/G ratio of 3.42 and a beta of 1.03. CDW Co. has a one year low of $185.04 and a one year high of $263.37. The company's 50 day moving average is $221.67 and its 200 day moving average is $225.21.

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 analysts' consensus estimates of $2.39 by ($0.05). The firm had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.43 billion. CDW had a net margin of 5.29% and a return on equity of 62.22%. The firm's revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.43 earnings per share. On average, equities research analysts anticipate that CDW Co. will post 9.4 earnings per share for the current year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 1.13%. The ex-dividend date was Monday, August 26th. CDW's payout ratio is 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.