Ropes Wealth Advisors LLC lowered its stake in shares of CDW (NASDAQ:CDW) by 41.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,080 shares of the information technology services provider’s stock after selling 2,222 shares during the quarter. Ropes Wealth Advisors LLC’s holdings in CDW were worth $342,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Berman Capital Advisors LLC boosted its stake in CDW by 166.3% during the 2nd quarter. Berman Capital Advisors LLC now owns 277 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 173 shares during the last quarter. Daiwa SB Investments Ltd. bought a new position in CDW during the 1st quarter worth approximately $47,000. Liberty Wealth Management LLC bought a new position in CDW during the 2nd quarter worth approximately $56,000. Advisors Preferred LLC bought a new position in CDW during the 1st quarter worth approximately $77,000. Finally, Rockefeller Capital Management L.P. bought a new position in CDW during the 1st quarter worth approximately $89,000. 93.57% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Robert F. Kirby sold 1,300 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $116.22, for a total value of $151,086.00. Following the completion of the transaction, the insider now owns 35,070 shares of the company’s stock, valued at $4,075,835.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas E. Richards sold 66,667 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $99.67, for a total value of $6,644,699.89. Following the transaction, the insider now directly owns 644,443 shares of the company’s stock, valued at approximately $64,231,633.81. The disclosure for this sale can be found here. In the last three months, insiders sold 140,852 shares of company stock valued at $14,506,703. 2.25% of the stock is currently owned by company insiders.

Shares of NASDAQ CDW traded down $2.50 during midday trading on Wednesday, reaching $110.85. The company’s stock had a trading volume of 13,872 shares, compared to its average volume of 792,789. The company has a debt-to-equity ratio of 3.57, a current ratio of 1.28 and a quick ratio of 1.09. CDW has a fifty-two week low of $74.32 and a fifty-two week high of $120.82. The company has a market cap of $16.60 billion, a PE ratio of 21.77, a price-to-earnings-growth ratio of 1.56 and a beta of 1.10. The stock has a 50 day simple moving average of $113.20.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, July 31st. The information technology services provider reported $1.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.10. CDW had a net margin of 4.07% and a return on equity of 82.78%. The business had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.50 billion. During the same period in the previous year, the company earned $1.38 earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, research analysts predict that CDW will post 5.62 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th will be given a $0.295 dividend. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.06%. CDW’s payout ratio is presently 23.14%.

Several research analysts recently weighed in on the stock. ValuEngine lowered shares of CDW from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Credit Suisse Group lifted their price objective on shares of CDW from $118.00 to $132.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Bank of America assumed coverage on shares of CDW in a report on Tuesday, July 30th. They set a “buy” rating and a $140.00 target price on the stock. BidaskClub upgraded shares of CDW from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd. Finally, Stifel Nicolaus downgraded shares of CDW from a “buy” rating to a “hold” rating and raised their target price for the stock from $100.00 to $105.00 in a report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $118.13.

About CDW

CDW Corporation provides integrated information technology (IT) solutions to business, government, education, and healthcare customers in the United States, Canada, and the United Kingdom. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products, as well as integrated IT solutions, including mobility, security, data center optimization, cloud computing, virtualization, and collaboration.

Further Reading: Understanding Price to Earnings Ratio (PE)

Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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