Royal London Asset Management Ltd. Has $63.03 Million Stake in CDW Co. (NASDAQ:CDW)

Royal London Asset Management Ltd. lowered its position in CDW Co. (NASDAQ:CDW) by 14.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 281,567 shares of the information technology services provider’s stock after selling 48,738 shares during the period. Royal London Asset Management Ltd. owned 0.21% of CDW worth $63,026,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CDW. Tsfg LLC bought a new stake in CDW during the 1st quarter worth about $26,000. Rise Advisors LLC bought a new stake in shares of CDW during the first quarter valued at approximately $34,000. ORG Partners LLC bought a new stake in shares of CDW during the second quarter valued at approximately $34,000. Quest Partners LLC acquired a new stake in shares of CDW in the second quarter valued at approximately $35,000. Finally, Summit Securities Group LLC bought a new position in CDW in the 2nd quarter worth approximately $40,000. 93.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

CDW Stock Up 0.9 %

Shares of CDW stock opened at $214.14 on Tuesday. CDW Co. has a 12-month low of $185.04 and a 12-month 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 firm has a fifty day moving average of $221.81 and a 200-day moving average of $231.43. The company has a market capitalization of $28.60 billion, a price-to-earnings ratio of 26.73, a P/E/G ratio of 3.22 and a beta of 1.04.

CDW (NASDAQ:CDW) last posted 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). The firm 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 firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.43 earnings per share. As a group, equities research analysts predict that CDW Co. will post 9.4 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th will be paid a dividend of $0.62 per share. The ex-dividend date is Monday, August 26th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.16%. CDW’s dividend payout ratio is 30.96%.

Insider Activity

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

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.