Quantitative Investment Management LLC Sells 17,709 Shares of CDW Corporation $CDW

Quantitative Investment Management LLC lowered its holdings in shares of CDW Corporation (NASDAQ:CDW) by 58.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,338 shares of the information technology services provider’s stock after selling 17,709 shares during the period. Quantitative Investment Management LLC’s holdings in CDW were worth $1,735,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CDW. Jones Financial Companies Lllp boosted its position in shares of CDW by 316.0% during the 1st quarter. Jones Financial Companies Lllp now owns 4,896 shares of the information technology services provider’s stock valued at $785,000 after acquiring an additional 3,719 shares in the last quarter. Empowered Funds LLC raised its position in CDW by 1.2% in the first quarter. Empowered Funds LLC now owns 18,076 shares of the information technology services provider’s stock worth $2,897,000 after purchasing an additional 216 shares in the last quarter. California State Teachers Retirement System lifted its stake in CDW by 0.6% during the second quarter. California State Teachers Retirement System now owns 225,709 shares of the information technology services provider’s stock worth $40,309,000 after purchasing an additional 1,242 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its stake in CDW by 1,339.7% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 49,380 shares of the information technology services provider’s stock worth $8,819,000 after purchasing an additional 45,950 shares during the period. Finally, State of Tennessee Department of Treasury boosted its holdings in CDW by 17.7% during the second quarter. State of Tennessee Department of Treasury now owns 40,927 shares of the information technology services provider’s stock valued at $7,309,000 after purchasing an additional 6,143 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

Insider Transactions at CDW

In other CDW news, insider Elizabeth H. Connelly sold 26,695 shares of CDW stock in a transaction on Friday, August 7th. The stock was sold at an average price of $137.62, for a total value of $3,673,765.90. Following the completion of the transaction, the insider owned 34,215 shares in the company, valued at approximately $4,708,668.30. The trade was a 43.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

CDW has been the topic of several analyst reports. Raymond James Financial set a $150.00 price objective on CDW in a research note on Wednesday, May 6th. Citigroup raised their target price on CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Barclays decreased their price target on CDW from $144.00 to $123.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 7th. UBS Group dropped their price objective on CDW from $162.00 to $147.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Finally, JPMorgan Chase & Co. raised CDW from a “neutral” rating to an “overweight” rating and set a $130.00 price objective for the company in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $147.00.

CDW Price Performance

Shares of CDW stock opened at $151.58 on Tuesday. The company has a current ratio of 1.17, a quick ratio of 1.05 and a debt-to-equity ratio of 1.97. The stock has a market capitalization of $18.95 billion, a price-to-earnings ratio of 18.22, a P/E/G ratio of 1.94 and a beta of 0.96. CDW Corporation has a 1-year low of $97.12 and a 1-year high of $171.55. The firm’s 50-day moving average price is $138.29 and its two-hundred day moving average price is $128.62.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.11. The company had revenue of $6.57 billion during the quarter, compared to analysts’ expectations of $6.21 billion. CDW had a net margin of 4.60% and a return on equity of 50.61%. CDW’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.60 earnings per share. On average, equities analysts predict that CDW Corporation will post 10.33 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Tuesday, August 25th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, August 25th. CDW’s dividend payout ratio (DPR) is currently 30.29%.

CDW Company Profile

CDW (NASDAQ: CDW) is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.

CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.