Virtu Financial LLC Has $1.45 Million Stock Position in CDW Co. (NASDAQ:CDW)

Virtu Financial LLC cut its stake in shares of CDW Co. (NASDAQ:CDW) by 9.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,473 shares of the information technology services provider’s stock after selling 642 shares during the period. Virtu Financial LLC’s holdings in CDW were worth $1,449,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Aaron Wealth Advisors LLC boosted its position in shares of CDW by 2.8% during the first quarter. Aaron Wealth Advisors LLC now owns 1,540 shares of the information technology services provider’s stock worth $394,000 after purchasing an additional 42 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in CDW by 5.9% during the first quarter. Massmutual Trust Co. FSB ADV now owns 767 shares of the information technology services provider’s stock worth $196,000 after acquiring an additional 43 shares in the last quarter. RDA Financial Network grew its stake in CDW by 3.0% in the second quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider’s stock valued at $355,000 after acquiring an additional 46 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its stake in CDW by 1.4% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,446 shares of the information technology services provider’s stock valued at $881,000 after acquiring an additional 47 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of CDW by 5.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,144 shares of the information technology services provider’s stock worth $260,000 after acquiring an additional 54 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on CDW shares. Northcoast Research upgraded shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price on the stock in a report on Friday, June 7th. Barclays cut 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, Stifel Nicolaus increased their target price on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, CDW has an average rating of “Moderate Buy” and a consensus target price of $254.63.

CDW Price Performance

NASDAQ:CDW opened at $223.32 on Wednesday. The stock has a market capitalization of $30.01 billion, a PE ratio of 27.88, a P/E/G ratio of 3.27 and a beta of 1.04. CDW Co. has a 1-year low of $185.04 and a 1-year high of $263.37. The firm has a fifty day simple moving average of $221.88 and a 200 day simple moving average of $230.47. 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 released its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.39 by ($0.05). The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.43 billion. CDW had a return on equity of 62.22% and a net margin of 5.29%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.43 earnings per share. On average, research analysts expect that CDW Co. will post 9.4 EPS for the current fiscal year.

CDW Dividend Announcement

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 dividend on an annualized basis and a dividend yield of 1.11%. CDW’s payout ratio is 30.96%.

Insider Activity

In related news, insider Sona Chawla sold 18,437 shares of the stock in a transaction 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 sale, the insider now owns 22,428 shares in the company, valued at approximately $5,392,812.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Sona Chawla sold 18,437 shares of CDW stock in a transaction dated 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 owns 22,428 shares of the company’s stock, valued at approximately $5,392,812.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christine A. Leahy purchased 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was bought 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. Insiders own 0.90% of the company’s stock.

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.