Gateway Investment Advisers LLC Has $28.01 Million Stock Holdings in CDW Co. (NASDAQ:CDW)

Gateway Investment Advisers LLC trimmed its holdings in shares of CDW Co. (NASDAQ:CDW) by 0.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 123,793 shares of the information technology services provider’s stock after selling 675 shares during the quarter. Gateway Investment Advisers LLC owned 0.09% of CDW worth $28,014,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in CDW. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of CDW by 332.3% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,954 shares of the information technology services provider’s stock worth $442,000 after acquiring an additional 1,502 shares in the last quarter. JGP Wealth Management LLC boosted its holdings in CDW by 5.6% during the third quarter. JGP Wealth Management LLC now owns 48,799 shares of the information technology services provider’s stock worth $11,043,000 after purchasing an additional 2,604 shares during the last quarter. Perpetual Ltd bought a new position in CDW in the third quarter valued at $158,300,000. Wedmont Private Capital increased its stake in CDW by 4.9% in the 3rd quarter. Wedmont Private Capital now owns 1,727 shares of the information technology services provider’s stock valued at $381,000 after buying an additional 81 shares during the last quarter. Finally, FCF Advisors LLC bought a new stake in CDW during the 3rd quarter worth about $2,205,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Stock Performance

NASDAQ:CDW traded up $0.31 during mid-day trading on Friday, reaching $222.00. 930,885 shares of the company’s stock were exchanged, compared to its average volume of 814,457. CDW Co. has a one year low of $185.04 and a one year high of $263.37. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.02 and a current ratio of 1.13. The business’s fifty day simple moving average is $220.40 and its two-hundred day simple moving average is $227.35. The firm has a market capitalization of $29.84 billion, a PE ratio of 27.72, a price-to-earnings-growth ratio of 3.42 and a beta of 1.03.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.05). The company had revenue of $5.42 billion during the quarter, compared to the consensus estimate 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 previous year, the business posted $2.43 EPS. Analysts anticipate that CDW Co. will post 9.4 earnings per share for the current fiscal year.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date was Monday, August 26th. CDW’s dividend payout ratio (DPR) is presently 30.96%.

Insider Buying and Selling

In other news, insider Sona Chawla sold 18,437 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the completion of the transaction, the insider now owns 22,428 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Christine A. Leahy acquired 1,200 shares of CDW stock in a transaction that occurred on Thursday, August 1st. The shares were acquired at an average price of $216.15 per share, for a total transaction of $259,380.00. Following the transaction, the insider now directly owns 102,200 shares of the company’s stock, valued at approximately $22,090,530. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sona Chawla sold 18,437 shares of the company’s 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 completion of the transaction, the insider now directly owns 22,428 shares of the company’s stock, valued at approximately $5,392,812.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

CDW 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.