Longview Partners Guernsey LTD Sells 365,605 Shares of CDW Co. (NASDAQ:CDW)

Longview Partners Guernsey LTD decreased its position in CDW Co. (NASDAQ:CDW) by 12.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,657,736 shares of the information technology services provider’s stock after selling 365,605 shares during the quarter. CDW accounts for 4.4% of Longview Partners Guernsey LTD’s portfolio, making the stock its 11th biggest holding. Longview Partners Guernsey LTD owned approximately 1.98% of CDW worth $594,908,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CDW. Wellington Management Group LLP grew its position in CDW by 29.1% in the fourth quarter. Wellington Management Group LLP now owns 3,464,886 shares of the information technology services provider’s stock worth $787,638,000 after acquiring an additional 781,421 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of 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 worth $4,196,721,000 after purchasing an additional 714,393 shares during the period. Lazard Asset Management LLC increased 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 valued at $225,491,000 after purchasing an additional 611,054 shares during the last quarter. First Trust Advisors LP raised its holdings in CDW by 627.3% during 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 during the period. Finally, Norges Bank bought a new stake in CDW in the fourth quarter worth $111,736,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CDW shares. Northcoast Research raised shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price on the stock in a research note on Friday, June 7th. Stifel Nicolaus increased their price objective on shares of CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Barclays dropped their target price 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. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, CDW presently has a consensus rating of “Moderate Buy” and a consensus price target of $254.63.

CDW Stock Performance

Shares of NASDAQ:CDW opened at $225.30 on Friday. 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 firm has a market cap of $30.28 billion, a PE ratio of 28.13, a price-to-earnings-growth ratio of 3.27 and a beta of 1.04. The firm’s 50 day simple moving average is $222.12 and its 200-day simple moving average is $230.08. CDW Co. has a one year low of $185.04 and a one year high of $263.37.

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

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Monday, August 26th. CDW’s dividend payout ratio (DPR) is 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.