Intech Investment Management LLC Trims Stake in CDW Co. (NASDAQ:CDW)

Intech Investment Management LLC lessened its position in shares of CDW Co. (NASDAQ:CDW) by 51.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,346 shares of the information technology services provider’s stock after selling 11,002 shares during the quarter. Intech Investment Management LLC’s holdings in CDW were worth $2,316,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. UBS Group AG grew its position in shares of CDW by 60.7% during the fourth quarter. UBS Group AG now owns 194,686 shares of the information technology services provider’s stock worth $44,256,000 after acquiring an additional 73,503 shares during the last quarter. Acadian Asset Management LLC increased its stake in CDW by 211.5% in the first quarter. Acadian Asset Management LLC now owns 44,205 shares of the information technology services provider’s stock valued at $11,302,000 after purchasing an additional 30,012 shares during the period. Rafferty Asset Management LLC raised its holdings in shares of CDW by 157.3% in the fourth quarter. Rafferty Asset Management LLC now owns 90,362 shares of the information technology services provider’s stock valued at $20,541,000 after buying an additional 55,239 shares during the last quarter. Insight Wealth Strategies LLC acquired a new stake in shares of CDW during the first quarter worth about $3,940,000. Finally, Madison Asset Management LLC grew its holdings in shares of CDW by 2.8% during the fourth quarter. Madison Asset Management LLC now owns 374,505 shares of the information technology services provider’s stock worth $85,132,000 after buying an additional 10,183 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Insider Buying and Selling

In other CDW news, insider Sona Chawla sold 18,437 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 22,428 shares of the company’s stock, valued at $5,392,812.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Sona Chawla sold 18,437 shares of CDW stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the completion of the sale, the insider now owns 22,428 shares in the company, valued at approximately $5,392,812.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Christine A. Leahy bought 1,200 shares of CDW stock in a transaction on Thursday, August 1st. The stock was purchased at an average price of $216.15 per share, for a total transaction of $259,380.00. Following the completion of the acquisition, the insider now owns 102,200 shares in the company, valued at approximately $22,090,530. The disclosure for this purchase can be found here. Insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Stifel Nicolaus upped their price objective on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Barclays cut their price target on CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Finally, Northcoast Research upgraded shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 price objective on the stock in a research report on Friday, June 7th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, CDW currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.63.

CDW Price Performance

Shares of NASDAQ CDW opened at $225.30 on Monday. The company’s fifty day moving average is $222.12 and its two-hundred day moving average is $229.85. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.02 and a current ratio of 1.13. The firm has a market capitalization of $30.28 billion, a P/E ratio of 28.13, a PEG ratio of 3.27 and a beta of 1.04. CDW Co. has a one year low of $185.04 and a one year high of $263.37.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.39 by ($0.05). CDW had a return on equity of 62.22% and a net margin of 5.29%. The company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same quarter in the previous year, the company posted $2.43 earnings per share. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. Analysts forecast that CDW Co. will post 9.4 EPS for the current fiscal year.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Monday, August 26th. CDW’s dividend payout ratio (DPR) is presently 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.