Atlas Capital Advisors LLC Cuts Stock Holdings in CDW Co. (NASDAQ:CDW)

Atlas Capital Advisors LLC trimmed its stake in CDW Co. (NASDAQ:CDW) by 6.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,641 shares of the information technology services provider’s stock after selling 260 shares during the period. Atlas Capital Advisors LLC’s holdings in CDW were worth $815,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. UBS Group AG raised its stake in shares of CDW by 60.7% during the fourth quarter. UBS Group AG now owns 194,686 shares of the information technology services provider’s stock worth $44,256,000 after acquiring an additional 73,503 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of CDW by 211.5% in the first quarter. Acadian Asset Management LLC now owns 44,205 shares of the information technology services provider’s stock worth $11,302,000 after buying an additional 30,012 shares during the period. Rafferty Asset Management LLC lifted its stake in shares of CDW by 157.3% in the 4th quarter. Rafferty Asset Management LLC now owns 90,362 shares of the information technology services provider’s stock valued at $20,541,000 after acquiring an additional 55,239 shares during the last quarter. Insight Wealth Strategies LLC purchased a new position in CDW in the 1st quarter worth approximately $3,940,000. Finally, Madison Asset Management LLC grew its holdings in shares of CDW by 2.8% in the fourth quarter. Madison Asset Management LLC now owns 374,505 shares of the information technology services provider’s stock worth $85,132,000 after purchasing an additional 10,183 shares during the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Stock Performance

CDW stock opened at $225.64 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.03. The stock’s 50 day moving average is $222.76 and its 200 day moving average is $232.62. CDW Co. has a twelve month low of $185.04 and a twelve month high of $263.37. The company has a market capitalization of $30.33 billion, a P/E ratio of 28.17, a PEG ratio of 3.17 and a beta of 1.04.

CDW (NASDAQ:CDW) last announced its quarterly earnings results 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 the consensus estimate of $5.43 billion. During the same quarter in the previous year, the firm earned $2.43 EPS. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities research analysts predict that CDW Co. will post 9.6 earnings per share for the current fiscal year.

CDW Dividend Announcement

The firm 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. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Monday, August 26th. CDW’s payout ratio is currently 30.96%.

Analyst Ratings Changes

CDW has been the subject of several research analyst reports. Stifel Nicolaus increased 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. Barclays reduced 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 report on Thursday, August 1st. Finally, Northcoast Research raised shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price for the company in a research report on Friday, June 7th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $254.63.

Insider Activity at CDW

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

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.