CDW Co. (NASDAQ:CDW) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC decreased its position in shares of CDW Co. (NASDAQ:CDWFree Report) by 3.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 125,015 shares of the information technology services provider’s stock after selling 4,831 shares during the quarter. HighTower Advisors LLC owned approximately 0.09% of CDW worth $25,170,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new position in shares of CDW during the third quarter worth about $25,000. TFC Financial Management Inc. grew its holdings in shares of CDW by 61.1% during the third quarter. TFC Financial Management Inc. now owns 145 shares of the information technology services provider’s stock worth $29,000 after buying an additional 55 shares during the last quarter. Sandy Spring Bank grew its holdings in shares of CDW by 87.3% during the second quarter. Sandy Spring Bank now owns 148 shares of the information technology services provider’s stock worth $27,000 after buying an additional 69 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new position in shares of CDW during the second quarter worth about $1,373,000. Finally, Altshuler Shaham Ltd purchased a new position in shares of CDW during the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 93.04% of the company’s stock.

Insider Activity

In other news, insider Christina M. Corley sold 700 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $220.01, for a total transaction of $154,007.00. Following the completion of the sale, the insider now directly owns 62,536 shares of the company’s stock, valued at approximately $13,758,545.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Christina M. Corley sold 48,320 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $217.23, for a total transaction of $10,496,553.60. Following the completion of the sale, the insider now directly owns 62,536 shares of the company’s stock, valued at approximately $13,584,695.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Christina M. Corley sold 700 shares of the company’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $220.01, for a total transaction of $154,007.00. Following the sale, the insider now directly owns 62,536 shares of the company’s stock, valued at $13,758,545.36. The disclosure for this sale can be found here. Corporate insiders own 0.85% of the company’s stock.

CDW Stock Up 0.5 %

CDW stock opened at $245.23 on Friday. The stock has a market capitalization of $32.85 billion, a P/E ratio of 30.28, a PEG ratio of 1.92 and a beta of 1.10. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.20 and a current ratio of 1.23. CDW Co. has a one year low of $160.66 and a one year high of $247.63. The company has a 50 day moving average price of $223.81 and a two-hundred day moving average price of $212.21.

CDW (NASDAQ:CDWGet Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.01. CDW had a net margin of 5.17% and a return on equity of 73.93%. The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the previous year, the company earned $2.40 EPS. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. As a group, sell-side analysts expect that CDW Co. will post 9.71 EPS for the current year.

CDW declared that its Board of Directors has approved a share repurchase program on Wednesday, February 7th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th will be paid a dividend of $0.62 per share. The ex-dividend date is Friday, February 23rd. This represents a $2.48 annualized dividend and a dividend yield of 1.01%. CDW’s dividend payout ratio is presently 30.62%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price target on CDW from $253.00 to $267.00 and gave the stock an “overweight” rating in a report on Thursday. Barclays raised their price objective on shares of CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Morgan Stanley downgraded shares of CDW from an “overweight” rating to an “equal weight” rating and set a $216.00 price objective for the company. in a research report on Tuesday, December 12th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $223.60.

Read Our Latest Research Report on CDW

CDW Company Profile

(Free Report)

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, hybrid, and cloud capabilities across hybrid infrastructure, digital experience, and security.

Further Reading

Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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