AE Wealth Management LLC Sells 624 Shares of CDW Co. (NASDAQ:CDW)

AE Wealth Management LLC reduced its stake in CDW Co. (NASDAQ:CDW) by 15.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,499 shares of the information technology services provider’s stock after selling 624 shares during the quarter. AE Wealth Management LLC’s holdings in CDW were worth $783,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV lifted its holdings in shares of CDW by 5.9% in the first quarter. Massmutual Trust Co. FSB ADV now owns 767 shares of the information technology services provider’s stock valued at $196,000 after purchasing an additional 43 shares in the last quarter. RDA Financial Network boosted its position in CDW by 3.0% during the 2nd quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider’s stock worth $355,000 after acquiring an additional 46 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of CDW by 1.4% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,446 shares of the information technology services provider’s stock worth $881,000 after acquiring an additional 47 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of CDW by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 11,541 shares of the information technology services provider’s stock valued at $2,583,000 after purchasing an additional 54 shares during the last quarter. Finally, Boltwood Capital Management lifted its position in shares of CDW by 3.2% in the first quarter. Boltwood Capital Management now owns 1,777 shares of the information technology services provider’s stock worth $455,000 after purchasing an additional 55 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at CDW

In other news, insider Christine A. Leahy acquired 1,200 shares of CDW stock in a transaction dated Thursday, August 1st. The stock was bought 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 directly owns 102,200 shares in the company, valued at approximately $22,090,530. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other CDW news, insider Christine A. Leahy bought 1,200 shares of CDW stock in a transaction dated 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 completion of the transaction, the insider now owns 102,200 shares in the company, valued at approximately $22,090,530. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sona Chawla sold 18,437 shares of the firm’s 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 transaction, the insider now directly owns 22,428 shares in the company, valued at $5,392,812.60. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

CDW Stock Performance

CDW opened at $221.28 on Thursday. 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. The business has a 50 day moving average of $221.32 and a 200-day moving average of $229.46. The stock has a market cap of $29.74 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 3.40 and a beta of 1.04.

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

CDW Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were paid a $0.62 dividend. The ex-dividend date 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 (DPR) is currently 30.96%.

CDW Company 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.