Sanibel Captiva Trust Company Inc. Sells 654 Shares of CDW Co. (NASDAQ:CDW)

Sanibel Captiva Trust Company Inc. reduced its stake in shares of CDW Co. (NASDAQ:CDW) by 9.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,251 shares of the information technology services provider’s stock after selling 654 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in CDW were worth $1,415,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in CDW by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider’s stock valued at $4,196,721,000 after acquiring an additional 714,393 shares in the last quarter. Wellington Management Group LLP boosted its position in CDW by 29.1% during the 4th quarter. Wellington Management Group LLP now owns 3,464,886 shares of the information technology services provider’s stock valued at $787,638,000 after acquiring an additional 781,421 shares in the last quarter. Mawer Investment Management Ltd. boosted its position in CDW by 0.9% during the 1st quarter. Mawer Investment Management Ltd. now owns 3,101,924 shares of the information technology services provider’s stock valued at $793,410,000 after acquiring an additional 27,753 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in CDW by 3.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,431,573 shares of the information technology services provider’s stock valued at $366,168,000 after acquiring an additional 51,450 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in CDW by 11.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,292,674 shares of the information technology services provider’s stock valued at $289,357,000 after acquiring an additional 128,263 shares in the last quarter. Institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Stifel Nicolaus raised their price objective on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Citigroup cut CDW from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Finally, Barclays lowered their price objective on CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, CDW presently has an average rating of “Moderate Buy” and an average target price of $255.00.

Insider Activity at CDW

In related news, insider Sona Chawla sold 18,437 shares of CDW stock in a transaction dated 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 directly owns 22,428 shares in the company, valued at approximately $5,392,812.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Sona Chawla sold 18,437 shares of CDW stock in a transaction dated 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 directly owns 22,428 shares in the company, valued at approximately $5,392,812.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Christine A. Leahy acquired 1,200 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was purchased at an average price of $216.15 per share, for a total transaction of $259,380.00. Following the completion of the acquisition, the insider now owns 102,200 shares in the company, valued at $22,090,530. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.90% of the stock is owned by company insiders.

CDW Stock Performance

NASDAQ CDW opened at $221.69 on Friday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.02 and a current ratio of 1.13. CDW Co. has a fifty-two week low of $185.04 and a fifty-two week high of $263.37. The stock has a 50-day simple moving average of $220.16 and a two-hundred day simple moving average of $227.57. The firm has a market capitalization of $29.79 billion, a P/E ratio of 27.68, a PEG ratio of 3.40 and a beta of 1.03.

CDW (NASDAQ:CDW) last announced its quarterly earnings results 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). CDW had a net margin of 5.29% and a return on equity of 62.22%. The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter in the prior year, the firm earned $2.43 EPS. CDW’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities analysts forecast that CDW Co. will post 9.4 earnings per share for the current year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were paid 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 1.12%. CDW’s dividend payout ratio is presently 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.