Valley Wealth Managers Inc. Has $315,000 Position in CDW Co. (NASDAQ:CDW)

Valley Wealth Managers Inc. lessened its holdings in CDW Co. (NASDAQ:CDW) by 8.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,407 shares of the information technology services provider’s stock after selling 130 shares during the period. Valley Wealth Managers Inc.’s holdings in CDW were worth $315,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CDW. Meeder Advisory Services Inc. boosted its position in shares of CDW by 34.9% during the 2nd quarter. Meeder Advisory Services Inc. now owns 3,171 shares of the information technology services provider’s stock worth $710,000 after acquiring an additional 820 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of CDW by 2.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 58,972 shares of the information technology services provider’s stock worth $13,166,000 after acquiring an additional 1,460 shares in the last quarter. Main Street Financial Solutions LLC boosted its stake in CDW by 10.4% during the 2nd quarter. Main Street Financial Solutions LLC now owns 6,874 shares of the information technology services provider’s stock valued at $1,539,000 after purchasing an additional 647 shares during the last quarter. Johnson Investment Counsel Inc. grew its stake in shares of CDW by 28.7% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 2,655 shares of the information technology services provider’s stock worth $594,000 after acquiring an additional 592 shares in the last quarter. Finally, Achmea Investment Management B.V. increased its holdings in CDW by 5.3% during the second quarter. Achmea Investment Management B.V. now owns 62,139 shares of the information technology services provider’s stock worth $13,909,000 after buying an additional 3,104 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

CDW has been the subject of several recent research reports. Northcoast Research raised CDW from a “neutral” rating to a “buy” rating and set a $270.00 price objective for the company in a report on Friday, June 7th. Stifel Nicolaus boosted their price objective on shares of CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Finally, Barclays dropped 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. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $254.63.

CDW Trading Up 0.7 %

CDW stock opened at $220.15 on Friday. CDW Co. has a 12-month low of $185.04 and a 12-month high of $263.37. The firm has a market capitalization of $29.41 billion, a price-to-earnings ratio of 27.48, a P/E/G ratio of 3.27 and a beta of 1.04. The firm has a 50 day moving average of $221.71 and a 200 day moving average of $231.02. The company has a current ratio of 1.13, a quick ratio of 1.02 and a debt-to-equity ratio of 2.03.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.05). CDW had a return on equity of 62.22% and a net margin of 5.29%. The firm had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same period last year, the company earned $2.43 earnings per share. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, research analysts predict that CDW Co. will post 9.4 earnings per share for the current year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were given a $0.62 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.48 annualized dividend and a dividend yield of 1.13%. CDW’s payout ratio is 30.96%.

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.