CDW Co. (NASDAQ:CDW) Shares Sold by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. reduced its holdings in CDW Co. (NASDAQ:CDW) by 17.5% during the 2nd quarter, Holdings Channel reports. The firm owned 33,979 shares of the information technology services provider’s stock after selling 7,190 shares during the quarter. Coronation Fund Managers Ltd.’s holdings in CDW were worth $7,606,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in 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 acquiring an additional 781,421 shares during the period. Vanguard Group Inc. increased its stake in shares of CDW by 4.6% during 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 purchasing an additional 714,393 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of CDW by 225.9% during the 1st 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 last quarter. First Trust Advisors LP lifted its stake in CDW by 627.3% in the 4th quarter. First Trust Advisors LP now owns 625,781 shares of the information technology services provider’s stock valued at $142,252,000 after buying an additional 539,745 shares in the last quarter. Finally, Ceredex Value Advisors LLC acquired a new stake in CDW in the 2nd quarter worth about $79,549,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at CDW

In other CDW news, insider Christine A. Leahy bought 1,200 shares of CDW stock in a transaction on Thursday, August 1st. The shares were bought at an average price of $216.15 per share, for a total transaction of $259,380.00. Following the completion of the transaction, the insider now directly owns 102,200 shares of the company’s stock, valued at $22,090,530. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other 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 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 document filed with the SEC, which is accessible through this hyperlink. Also, insider Christine A. Leahy bought 1,200 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was bought 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 disclosure for this purchase can be found here. 0.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CDW. Barclays reduced 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. Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $250.00 to $245.00 in a research note on Tuesday. Stifel Nicolaus lifted their target price 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, Northcoast Research upgraded shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price for the company in a research report on Friday, June 7th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, CDW presently has a consensus rating of “Moderate Buy” and an average target price of $252.75.

CDW Stock Down 3.8 %

Shares of NASDAQ:CDW opened at $217.81 on Wednesday. CDW Co. has a 52-week low of $185.04 and a 52-week high of $263.37. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 2.03. The business has a fifty day moving average of $221.05 and a two-hundred day moving average of $228.88. The stock has a market cap of $29.27 billion, a P/E ratio of 27.19, a PEG ratio of 3.40 and a beta of 1.04.

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 analysts’ expectations of $5.43 billion. During the same period in the prior year, the company posted $2.43 EPS. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, research analysts expect that CDW Co. will post 9.4 earnings per share for the current 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 given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Monday, August 26th. CDW’s payout ratio is presently 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.