Orrstown Financial Services Inc. Buys Shares of 1,360 CDW Co. (NASDAQ:CDW)

Orrstown Financial Services Inc. purchased a new stake in CDW Co. (NASDAQ:CDW) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,360 shares of the information technology services provider’s stock, valued at approximately $308,000.

Several other large investors have also modified their holdings of CDW. RDA Financial Network raised its stake in shares of CDW by 3.0% in the 2nd 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. raised its position 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 purchasing an additional 47 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of CDW by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 11,541 shares of the information technology services provider’s stock worth $2,583,000 after purchasing an additional 54 shares in the last quarter. Smithfield Trust Co boosted its position in shares of CDW by 4.1% in the first quarter. Smithfield Trust Co now owns 1,434 shares of the information technology services provider’s stock worth $367,000 after buying an additional 57 shares during the period. Finally, Profund Advisors LLC boosted its position in shares of CDW by 0.5% in the second quarter. Profund Advisors LLC now owns 12,469 shares of the information technology services provider’s stock worth $2,791,000 after buying an additional 58 shares during the period. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Trading Up 0.7 %

CDW opened at $218.50 on Tuesday. CDW Co. has a 12-month low of $185.04 and a 12-month high of $263.37. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.13 and a quick ratio of 1.02. The stock has a market capitalization of $29.37 billion, a PE ratio of 27.28, a P/E/G ratio of 3.42 and a beta of 1.03. The firm’s fifty day moving average price is $221.49 and its 200 day moving average price is $224.33.

CDW (NASDAQ:CDW) last issued its 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). The company had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.43 billion. CDW had a net margin of 5.29% and a return on equity of 62.22%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.43 EPS. As a group, research analysts expect that CDW Co. will post 9.4 EPS for the current fiscal year.

CDW Dividend Announcement

The company also recently announced 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 was Monday, August 26th. This represents a $2.48 annualized dividend and a dividend yield of 1.14%. CDW’s payout ratio is 30.96%.

Insider Activity

In other CDW news, insider Christine A. Leahy acquired 1,200 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was purchased at an average price 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. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

CDW has been the topic of several analyst reports. Barclays dropped their target price on CDW from $232.00 to $229.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. Stifel Nicolaus boosted their target price on shares of CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and lowered their price target for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $260.00 to $235.00 in a report on Monday. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $250.71.

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.