Mount Yale Investment Advisors LLC Lowers Position in CDW Co. (NASDAQ:CDW)

Mount Yale Investment Advisors LLC reduced its stake in CDW Co. (NASDAQ:CDW) by 3.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,402 shares of the information technology services provider’s stock after selling 97 shares during the period. Mount Yale Investment Advisors LLC’s holdings in CDW were worth $538,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Wellington Management Group LLP increased its position in shares of CDW by 29.1% during the fourth 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 acquiring an additional 781,421 shares during the last quarter. Vanguard Group Inc. increased its holdings in CDW by 4.6% in the 1st 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 raised its position 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 valued at $225,491,000 after purchasing an additional 611,054 shares during the period. First Trust Advisors LP lifted its stake in CDW by 627.3% during 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 purchasing an additional 539,745 shares in the last quarter. Finally, Ceredex Value Advisors LLC purchased a new position in shares of CDW during the second quarter worth $79,549,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity at CDW

In other CDW 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 directly owns 22,428 shares of the company’s stock, valued at approximately $5,392,812.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Christine A. Leahy bought 1,200 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were purchased at an average cost of $216.15 per share, with a total value of $259,380.00. Following the transaction, the insider now directly owns 102,200 shares of the company’s stock, valued at approximately $22,090,530. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Sona Chawla sold 18,437 shares of CDW stock in a transaction on 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 sale, the insider now owns 22,428 shares in the company, valued at $5,392,812.60. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

CDW Stock Performance

Shares of CDW opened at $224.11 on Tuesday. CDW Co. has a 1 year low of $185.04 and a 1 year high of $263.37. The stock has a market capitalization of $30.12 billion, a PE ratio of 27.98, a PEG ratio of 3.27 and a beta of 1.04. 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 stock has a 50-day simple moving average of $221.95 and a 200-day simple moving average of $229.68.

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

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were paid a dividend of $0.62 per share. The ex-dividend date was Monday, August 26th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.11%. CDW’s 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.