Intech Investment Management LLC Lowers Stock Holdings in CDW Co. (NASDAQ:CDW)

Intech Investment Management LLC cut its holdings in CDW Co. (NASDAQ:CDW) by 51.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,346 shares of the information technology services provider’s stock after selling 11,002 shares during the quarter. Intech Investment Management LLC’s holdings in CDW were worth $2,316,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CDW. Austin Asset Management Co Inc purchased a new stake in CDW in the 2nd quarter worth $6,402,000. XTX Topco Ltd acquired a new stake in shares of CDW in the second quarter valued at about $652,000. Kendall Capital Management increased its stake in shares of CDW by 7.9% during the second quarter. Kendall Capital Management now owns 24,301 shares of the information technology services provider’s stock worth $5,440,000 after purchasing an additional 1,781 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of CDW by 4.4% during the 2nd quarter. Hsbc Holdings PLC now owns 259,052 shares of the information technology services provider’s stock worth $58,017,000 after purchasing an additional 10,892 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co lifted its stake in CDW by 0.5% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 12,301 shares of the information technology services provider’s stock valued at $2,753,000 after buying an additional 61 shares in the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CDW has been the topic of several research reports. Barclays decreased 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. Northcoast Research upgraded CDW from a “neutral” rating to a “buy” rating and set a $270.00 price objective on the stock in a report on Friday, June 7th. Finally, Stifel Nicolaus upped their target price on shares of CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $254.63.

CDW Price Performance

Shares of CDW opened at $225.30 on Monday. The company has a market cap of $30.28 billion, a P/E ratio of 28.13, a PEG ratio of 3.27 and a beta of 1.04. CDW Co. has a fifty-two week low of $185.04 and a fifty-two 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 firm’s 50 day moving average price is $222.12 and its 200 day moving average price is $229.85.

CDW (NASDAQ:CDW) last released its earnings results 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 company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter last year, the business posted $2.43 earnings per share. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, research analysts forecast that CDW Co. will post 9.4 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were paid a dividend of $0.62 per share. The ex-dividend date was Monday, August 26th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.10%. CDW’s payout ratio is 30.96%.

Insider Activity at CDW

In other CDW news, insider Sona Chawla sold 18,437 shares of the business’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 transaction, the insider now owns 22,428 shares in the company, valued at approximately $5,392,812.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other CDW news, insider Sona Chawla sold 18,437 shares of CDW 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 completion of the sale, the insider now directly owns 22,428 shares of the company’s stock, valued at approximately $5,392,812.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christine A. Leahy acquired 1,200 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was acquired at an average price of $216.15 per share, for a total transaction of $259,380.00. Following the acquisition, the insider now 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 owned by corporate insiders.

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.