Allspring Global Investments Holdings LLC Sells 1,769 Shares of CDW Co. (NASDAQ:CDW)

Allspring Global Investments Holdings LLC trimmed its stake in shares of CDW Co. (NASDAQ:CDW) by 19.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,548 shares of the information technology services provider’s stock after selling 1,769 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in CDW were worth $1,690,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP grew its stake in CDW by 29.1% in 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 buying an additional 781,421 shares during the last quarter. Vanguard Group Inc. grew its position in shares of CDW by 4.6% in the first 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 purchasing an additional 714,393 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of CDW by 225.9% during the first quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider’s stock worth $225,491,000 after purchasing an additional 611,054 shares during the period. First Trust Advisors LP lifted its holdings in CDW by 627.3% during the 4th quarter. First Trust Advisors LP now owns 625,781 shares of the information technology services provider’s stock worth $142,252,000 after purchasing an additional 539,745 shares during the last quarter. Finally, Norges Bank bought a new stake in CDW in the 4th quarter valued at $111,736,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Barclays dropped their target price on CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. Northcoast Research upgraded shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 price objective for the company in a research note on Friday, June 7th. Finally, Stifel Nicolaus increased 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. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, CDW has an average rating of “Moderate Buy” and a consensus price target of $254.63.

Insider Activity at CDW

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

CDW Price Performance

CDW stock opened at $217.67 on Wednesday. The company’s 50-day moving average price is $222.50 and its two-hundred day moving average price is $232.25. The firm has a market cap of $29.25 billion, a P/E ratio of 27.17, a P/E/G ratio of 3.42 and a beta of 1.04. 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 Co. has a 12 month low of $185.04 and a 12 month high of $263.37.

CDW (NASDAQ:CDW) last announced its quarterly earnings data 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). CDW had a net margin of 5.29% and a return on equity of 62.22%. The firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same period last year, the business earned $2.43 earnings per share. The business’s revenue was down 3.6% compared to the same quarter last year. On average, analysts anticipate that CDW Co. will post 9.4 earnings per share for the current fiscal year.

CDW Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 26th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Monday, August 26th. This represents a $2.48 annualized dividend and a dividend yield of 1.14%. CDW’s dividend payout ratio is currently 30.96%.

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.