Caxton Associates LP Sells 8,781 Shares of CDW Co. (NASDAQ:CDW)

Caxton Associates LP trimmed its holdings in shares of CDW Co. (NASDAQ:CDW) by 82.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,881 shares of the information technology services provider’s stock after selling 8,781 shares during the period. Caxton Associates LP’s holdings in CDW were worth $481,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. raised its stake in CDW by 16.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 49,011 shares of the information technology services provider’s stock valued at $11,141,000 after acquiring an additional 6,799 shares during the period. Ritholtz Wealth Management bought a new stake in CDW in the 4th quarter valued at about $234,000. Blue Trust Inc. raised its stake in CDW by 56.6% in the 4th quarter. Blue Trust Inc. now owns 271 shares of the information technology services provider’s stock valued at $62,000 after acquiring an additional 98 shares during the period. ICICI Prudential Asset Management Co Ltd bought a new stake in CDW in the 4th quarter valued at about $296,000. Finally, Norris Perne & French LLP MI raised its stake in CDW by 0.3% in the 4th quarter. Norris Perne & French LLP MI now owns 54,102 shares of the information technology services provider’s stock valued at $12,299,000 after acquiring an additional 160 shares during the period. 93.15% of the stock is currently owned by institutional investors.

CDW Stock Up 0.5 %

Shares of NASDAQ CDW opened at $232.47 on Wednesday. CDW Co. has a 12 month low of $184.99 and a 12 month high of $263.37. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 2.35. The firm has a market capitalization of $31.24 billion, a price-to-earnings ratio of 29.02, a PEG ratio of 3.41 and a beta of 1.04. The business has a 50-day moving average of $226.43 and a 200-day moving average of $234.46.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($0.15). The firm had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $4.94 billion. CDW had a return on equity of 67.56% and a net margin of 5.16%. Sell-side analysts expect that CDW Co. will post 9.67 earnings per share for the current fiscal year.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 1.07%. CDW’s dividend payout ratio is currently 30.96%.

Insiders Place Their Bets

In other CDW news, insider Sona Chawla sold 18,437 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 22,428 shares of the company’s stock, valued at $5,392,812.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CDW. Stifel Nicolaus upped their price target on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Citigroup decreased their price target on CDW from $295.00 to $260.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. JPMorgan Chase & Co. decreased their price target on CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Barclays decreased their price target on CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Finally, Northcoast Research upgraded CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target on the stock in a research report on Friday, June 7th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CDW presently has a consensus rating of “Moderate Buy” and a consensus price target of $251.11.

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.