Hutchens & Kramer Investment Management Group LLC trimmed its holdings in shares of CDW Co. (NASDAQ:CDW – Free Report) by 12.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,041 shares of the information technology services provider’s stock after selling 427 shares during the period. Hutchens & Kramer Investment Management Group LLC’s holdings in CDW were worth $662,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the business. Swedbank AB boosted its stake in shares of CDW by 1.8% in the third quarter. Swedbank AB now owns 52,123 shares of the information technology services provider’s stock valued at $11,795,000 after purchasing an additional 928 shares during the period. Washington Capital Management Inc. acquired a new position in CDW in the 3rd quarter worth $204,000. Creative Planning boosted its position in CDW by 2.1% in the 3rd quarter. Creative Planning now owns 14,255 shares of the information technology services provider’s stock valued at $3,226,000 after buying an additional 297 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in shares of CDW by 50.7% during the third quarter. Exchange Traded Concepts LLC now owns 2,398 shares of the information technology services provider’s stock valued at $543,000 after acquiring an additional 807 shares in the last quarter. Finally, Carnegie Investment Counsel increased its position in shares of CDW by 1.7% during the third quarter. Carnegie Investment Counsel now owns 4,674 shares of the information technology services provider’s stock worth $1,058,000 after acquiring an additional 80 shares during the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.
CDW Stock Performance
CDW stock traded down $3.35 during trading on Tuesday, hitting $220.13. 959,474 shares of the company’s stock traded hands, compared to its average volume of 814,801. The stock has a market capitalization of $29.59 billion, a price-to-earnings ratio of 27.48, a price-to-earnings-growth ratio of 3.42 and a beta of 1.03. CDW Co. has a 52 week low of $185.04 and a 52 week high of $263.37. The stock has a fifty day moving average price of $220.97 and a two-hundred day moving average price of $226.46. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 2.03.
CDW Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Monday, August 26th. CDW’s dividend payout ratio (DPR) is 30.96%.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on CDW shares. Stifel Nicolaus raised their price target 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 decreased their price objective for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Finally, Barclays dropped their target price on shares of 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 investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $255.00.
Read Our Latest Stock Report on CDW
Insider Activity at CDW
In other news, insider Christine A. Leahy acquired 1,200 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were acquired at an average price of $216.15 per share, with a total value of $259,380.00. Following the acquisition, the insider now directly owns 102,200 shares in the company, valued at approximately $22,090,530. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.
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