Boston Financial Mangement LLC Sells 4,795 Shares of CDW Co. (NASDAQ:CDW)

Boston Financial Mangement LLC trimmed its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 2.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 184,793 shares of the information technology services provider's stock after selling 4,795 shares during the quarter. CDW accounts for 1.2% of Boston Financial Mangement LLC's portfolio, making the stock its 24th largest holding. Boston Financial Mangement LLC owned approximately 0.14% of CDW worth $41,819,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CDW. Vanguard Group Inc. lifted its position in shares of CDW by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider's stock worth $4,196,721,000 after buying an additional 714,393 shares during the period. Mawer Investment Management Ltd. lifted its position in CDW by 0.9% during the 1st quarter. Mawer Investment Management Ltd. now owns 3,101,924 shares of the information technology services provider's stock valued at $793,410,000 after purchasing an additional 27,753 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in CDW by 3.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,431,573 shares of the information technology services provider's stock valued at $366,168,000 after purchasing an additional 51,450 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of CDW by 11.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,292,674 shares of the information technology services provider's stock valued at $289,357,000 after purchasing an additional 128,263 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in shares of CDW by 225.9% during the 1st quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider's stock worth $225,491,000 after buying an additional 611,054 shares during the period. Institutional investors and hedge funds own 93.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Barclays reduced their price objective on shares of CDW from $232.00 to $229.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 1st. JPMorgan Chase & Co. downgraded CDW from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $260.00 to $235.00 in a report on Monday. Stifel Nicolaus raised their target price on CDW from $250.00 to $260.00 and gave the stock a "buy" rating in a report on Wednesday, July 17th. Finally, Citigroup cut CDW from a "buy" rating to a "neutral" rating and lowered their price target for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $250.71.

CDW Trading Up 0.6 %

Shares of CDW stock traded up $1.40 during trading hours on Tuesday, hitting $219.90. The company's stock had a trading volume of 1,922,226 shares, compared to its average volume of 822,012. 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 50 day moving average of $221.49 and a 200 day moving average of $224.33. CDW Co. has a 12 month low of $185.04 and a 12 month high of $263.37. The company has a market capitalization of $29.55 billion, a PE ratio of 27.45, a price-to-earnings-growth ratio of 3.42 and a beta of 1.03.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings results 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 net margin of 5.29% and a return on equity of 62.22%. The company had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the previous year, the firm posted $2.43 EPS. The business's quarterly revenue was down 3.6% compared to the same quarter last year. Analysts predict 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 paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Monday, August 26th. CDW's dividend payout ratio is 30.96%.

Insider Activity

In other news, insider Christine A. Leahy purchased 1,200 shares of CDW stock in a transaction on Thursday, August 1st. The stock was purchased at an average price of $216.15 per share, with a total value of $259,380.00. Following the transaction, the insider now directly owns 102,200 shares in the company, valued at $22,090,530. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.90% of the company's stock.

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.