SRN Advisors LLC Has $1.49 Million Stock Holdings in CDW Co. (NASDAQ:CDW)

SRN Advisors LLC increased its holdings in shares of CDW Co. (NASDAQ:CDW) by 6.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 5,826 shares of the information technology services provider’s stock after purchasing an additional 332 shares during the period. SRN Advisors LLC’s holdings in CDW were worth $1,490,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CDW. Ritholtz Wealth Management acquired a new position in CDW in the 4th quarter valued at approximately $234,000. Blue Trust Inc. lifted its position in shares of CDW by 56.6% during the 4th quarter. Blue Trust Inc. now owns 271 shares of the information technology services provider’s stock worth $62,000 after buying an additional 98 shares during the period. TIAA Trust National Association lifted its position in shares of CDW by 6.5% during the 4th quarter. TIAA Trust National Association now owns 1,231 shares of the information technology services provider’s stock worth $280,000 after buying an additional 75 shares during the period. DAVENPORT & Co LLC bought a new position in shares of CDW during the 4th quarter worth approximately $211,000. Finally, Trust Point Inc. bought a new position in shares of CDW during the 4th quarter worth approximately $373,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus raised their price target on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Citigroup reduced their target price on CDW from $295.00 to $260.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Northcoast Research upgraded CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price on the stock in a report on Friday, June 7th. Barclays cut their price target on CDW from $232.00 to $229.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, JPMorgan Chase & Co. cut their price target on CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $250.78.

Insider Transactions at CDW

In other news, insider Sona Chawla sold 18,437 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the completion of the transaction, the insider now directly owns 22,428 shares in the company, valued at $5,392,812.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.90% of the company’s stock.

CDW Price Performance

Shares of CDW stock traded down $3.74 during trading on Friday, hitting $209.85. The company had a trading volume of 1,443,329 shares, compared to its average volume of 966,452. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market capitalization of $28.03 billion, a P/E ratio of 26.20, a price-to-earnings-growth ratio of 3.17 and a beta of 1.04. The stock’s 50-day moving average price is $225.29 and its 200 day moving average price is $234.14. CDW Co. has a one year low of $185.04 and a one year high of $263.37.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $5.43 billion. During the same quarter in the previous year, the company earned $2.43 earnings per share. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities analysts expect that CDW Co. will post 9.6 EPS for the current fiscal year.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Monday, August 26th. This represents a $2.48 annualized dividend and a dividend yield of 1.18%. CDW’s dividend payout ratio (DPR) is presently 30.96%.

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.