Rafferty Asset Management LLC Decreases Stock Holdings in CDW Co. (NASDAQ:CDW)

Rafferty Asset Management LLC lowered its holdings in shares of CDW Co. (NASDAQ:CDW) by 4.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 47,031 shares of the information technology services provider’s stock after selling 2,319 shares during the quarter. Rafferty Asset Management LLC’s holdings in CDW were worth $8,561,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in CDW by 12.4% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 26,406 shares of the information technology services provider’s stock worth $4,612,000 after purchasing an additional 2,916 shares during the period. Rockefeller Capital Management L.P. boosted its position in shares of CDW by 283.9% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 1,409 shares of the information technology services provider’s stock valued at $245,000 after acquiring an additional 1,042 shares during the last quarter. Van ECK Associates Corp purchased a new stake in CDW during the 2nd quarter valued at $1,999,000. Ethic Inc. purchased a new stake in CDW during the 2nd quarter valued at $244,000. Finally, Empirical Finance LLC purchased a new stake in CDW during the 2nd quarter valued at $237,000. 90.31% of the stock is owned by hedge funds and other institutional investors.

CDW has been the topic of a number of recent analyst reports. Morgan Stanley increased their target price on CDW from $196.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 4th. Raymond James raised their price objective on CDW from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Thursday, November 4th. Zacks Investment Research downgraded CDW from a “buy” rating to a “hold” rating and set a $201.00 price target for the company. in a report on Monday, November 15th. Evercore ISI started coverage on CDW in a research note on Tuesday, December 14th. They issued an “outperform” rating for the company. Finally, JPMorgan Chase & Co. upgraded CDW to a “hold” rating and set a $200.00 price objective for the company in a research note on Wednesday, October 6th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $205.86.

CDW stock opened at $191.64 on Friday. The stock has a market capitalization of $26.01 billion, a PE ratio of 26.92, a price-to-earnings-growth ratio of 1.77 and a beta of 1.10. CDW Co. has a 12 month low of $130.01 and a 12 month high of $208.71. The business has a 50 day simple moving average of $196.00 and a 200-day simple moving average of $190.24. The company has a debt-to-equity ratio of 4.82, a current ratio of 1.38 and a quick ratio of 1.16.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, November 3rd. The information technology services provider reported $2.13 EPS for the quarter, beating the Zacks’ consensus estimate of $2.05 by $0.08. The business had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.32 billion. CDW had a return on equity of 98.82% and a net margin of 5.00%. The business’s revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.78 earnings per share. On average, equities research analysts anticipate that CDW Co. will post 7.54 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 10th. Stockholders of record on Wednesday, November 24th were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, November 23rd. This is a positive change from CDW’s previous quarterly dividend of $0.40. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.04%. CDW’s payout ratio is currently 28.09%.

In other news, insider Christina M. Corley sold 3,400 shares of CDW stock in a transaction that occurred on Thursday, November 18th. The stock was sold at an average price of $195.27, for a total value of $663,918.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold 10,200 shares of company stock worth $1,907,944 over the last ninety days. Corporate insiders own 1.33% of the company’s stock.

About CDW

CDW Corp. engages in the provision of information technology solutions to small, medium and large business, government, education and healthcare customers in the United States, the United Kingdom and Canada. It operates through the following segments: Corporate, Small Business, and Public. The Corporate segment serves the private sector business customers.

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Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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