Angeles Investment Advisors LLC Makes New Investment in CDW Co. (NASDAQ:CDW)

Angeles Investment Advisors LLC bought a new position in CDW Co. (NASDAQ:CDW) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 1,005 shares of the information technology services provider’s stock, valued at approximately $225,000.

Several other large investors have also bought and sold shares of CDW. Wellington Management Group LLP raised its holdings in CDW by 29.1% in the fourth quarter. Wellington Management Group LLP now owns 3,464,886 shares of the information technology services provider’s stock worth $787,638,000 after buying an additional 781,421 shares during the last quarter. Vanguard Group Inc. raised its holdings in 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 worth $4,196,721,000 after buying an additional 714,393 shares during the last quarter. Lazard Asset Management LLC raised its holdings in CDW by 225.9% in 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 buying an additional 611,054 shares during the last quarter. First Trust Advisors LP raised its holdings in CDW by 627.3% in the fourth quarter. First Trust Advisors LP now owns 625,781 shares of the information technology services provider’s stock worth $142,252,000 after buying an additional 539,745 shares during the last quarter. Finally, Norges Bank purchased a new position in CDW in the fourth quarter worth about $111,736,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Barclays decreased their target price on shares of CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. Stifel Nicolaus boosted their price objective 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, Northcoast Research raised shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 price objective for the company in a report on Friday, June 7th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $254.63.

Insider Buying and Selling at CDW

In other CDW news, insider Sona Chawla sold 18,437 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were 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 $5,392,812.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other CDW news, insider Sona Chawla sold 18,437 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were 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 $5,392,812.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Christine A. Leahy purchased 1,200 shares of the company’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 transaction, the insider now owns 102,200 shares of the company’s stock, valued at $22,090,530. The disclosure for this purchase can be found here. 0.90% of the stock is owned by corporate insiders.

CDW Stock Up 0.6 %

Shares of CDW stock opened at $221.45 on Tuesday. CDW Co. has a 12 month low of $185.04 and a 12 month high of $263.37. The stock has a market cap of $29.76 billion, a P/E ratio of 27.56, a P/E/G ratio of 3.27 and a beta of 1.04. The company has a current ratio of 1.13, a quick ratio of 1.02 and a debt-to-equity ratio of 2.03. The company has a 50 day simple moving average of $221.79 and a two-hundred day simple moving average of $230.65.

CDW (NASDAQ:CDW) last announced its 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). CDW had a net margin of 5.29% and a return on equity of 62.22%. The business had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same period in the prior year, the company posted $2.43 earnings per share. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. On average, research analysts expect that CDW Co. will post 9.4 earnings per share for the current year.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.48 dividend on an annualized basis and a yield of 1.12%. CDW’s dividend payout ratio is currently 30.96%.

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.