Certuity LLC Invests $2.27 Million in CDW Co. (NASDAQ:CDW)

Certuity LLC bought a new stake in CDW Co. (NASDAQ:CDW) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 10,123 shares of the information technology services provider’s stock, valued at approximately $2,266,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tsfg LLC purchased a new position in CDW in the 1st quarter worth approximately $26,000. Rise Advisors LLC acquired a new position in shares of CDW during the first quarter worth $34,000. ORG Partners LLC purchased a new position in shares of CDW in the second quarter valued at $34,000. Summit Securities Group LLC acquired a new stake in CDW during the 2nd quarter valued at $40,000. Finally, Continuum Advisory LLC increased its stake in CDW by 1,692.3% during the 2nd quarter. Continuum Advisory LLC now owns 233 shares of the information technology services provider’s stock worth $52,000 after buying an additional 220 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. 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 research report on Thursday, August 1st. Northcoast Research raised CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target for the company in a report on Friday, June 7th. Finally, Stifel Nicolaus lifted their price objective on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $254.63.

Insider Transactions at CDW

In other CDW news, insider Christine A. Leahy acquired 1,200 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was acquired 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 acquisition was disclosed in a document filed with the SEC, which is available through this link. In other CDW news, insider Sona Chawla sold 18,437 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total value of $4,433,176.65. Following the sale, the insider now directly owns 22,428 shares of the company’s stock, valued at $5,392,812.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Christine A. Leahy purchased 1,200 shares of CDW stock in a transaction dated Thursday, August 1st. The shares were purchased at an average cost of $216.15 per share, with a total value of $259,380.00. Following the acquisition, the insider now owns 102,200 shares of the company’s stock, valued at approximately $22,090,530. The disclosure for this purchase can be found here. Insiders own 0.90% of the company’s stock.

CDW Stock Down 1.2 %

Shares of CDW stock opened at $212.21 on Friday. The business has a 50-day moving average price of $221.91 and a 200 day moving average price of $231.74. CDW Co. has a fifty-two week low of $185.04 and a fifty-two week high of $263.37. The firm has a market cap of $28.52 billion, a P/E ratio of 26.49, a P/E/G ratio of 3.42 and a beta of 1.04. 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) last issued 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 firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter last year, the firm posted $2.43 earnings per share. CDW’s revenue was down 3.6% compared to the same quarter last year. On average, sell-side analysts forecast that CDW Co. will post 9.4 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th will be issued a dividend of $0.62 per share. The ex-dividend date is Monday, August 26th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.17%. CDW’s dividend payout ratio (DPR) is 30.96%.

CDW 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.