Hartford Investment Management Co. Decreases Stake in CDW Co. (NASDAQ:CDW)

Hartford Investment Management Co. decreased its holdings in CDW Co. (NASDAQ:CDW) by 2.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,425 shares of the information technology services provider’s stock after selling 200 shares during the quarter. Hartford Investment Management Co.’s holdings in CDW were worth $1,907,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Sunbelt Securities Inc. boosted its holdings in CDW by 46.2% during the first quarter. Sunbelt Securities Inc. now owns 1,458 shares of the information technology services provider’s stock worth $373,000 after buying an additional 461 shares in the last quarter. Wealthcare Advisory Partners LLC purchased a new stake in shares of CDW during the 1st quarter worth approximately $1,403,000. Hengehold Capital Management LLC acquired a new stake in shares of CDW in the 1st quarter worth approximately $205,000. Tsfg LLC purchased a new position in CDW in the 1st quarter valued at approximately $26,000. Finally, Kathmere Capital Management LLC raised its holdings in CDW by 7.9% during the first quarter. Kathmere Capital Management LLC now owns 2,525 shares of the information technology services provider’s stock worth $646,000 after purchasing an additional 185 shares during the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Christine A. Leahy acquired 1,200 shares of the company’s 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 purchase, the insider now directly owns 102,200 shares in the company, valued at $22,090,530. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.90% of the stock is owned by corporate insiders.

CDW Stock Up 0.7 %

Shares of NASDAQ:CDW opened at $219.16 on Friday. The company has a market capitalization of $29.45 billion, a P/E ratio of 27.36, a P/E/G ratio of 3.42 and a beta of 1.03. The stock’s fifty day simple moving average is $221.62 and its 200-day simple moving average is $225.16. 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.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.05). The firm had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.43 billion. CDW had a net margin of 5.29% and a return on equity of 62.22%. The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.43 EPS. As a group, equities research analysts forecast that CDW Co. will post 9.4 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.48 annualized dividend and a yield of 1.13%. CDW’s dividend payout ratio (DPR) is presently 30.96%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CDW. Stifel Nicolaus upped their target price on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Finally, Barclays dropped 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. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $255.00.

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.