Meiji Yasuda Asset Management Co Ltd. Sells 2,772 Shares of CDW Co. (NASDAQ:CDW)

Meiji Yasuda Asset Management Co Ltd. reduced its stake in shares of CDW Co. (NASDAQ:CDW) by 48.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,978 shares of the information technology services provider’s stock after selling 2,772 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in CDW were worth $667,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV grew its stake in shares of CDW by 5.5% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 51,993 shares of the information technology services provider’s stock worth $11,626,000 after acquiring an additional 2,706 shares during the period. E Fund Management Co. Ltd. lifted its holdings in CDW by 20.2% during the second quarter. E Fund Management Co. Ltd. now owns 2,703 shares of the information technology services provider’s stock valued at $605,000 after purchasing an additional 454 shares during the last quarter. One Capital Management LLC bought a new position in CDW during the second quarter worth about $347,000. Quantbot Technologies LP purchased a new position in shares of CDW in the second quarter worth about $3,221,000. Finally, Dimensional Fund Advisors LP raised its position in shares of CDW by 11.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,292,674 shares of the information technology services provider’s stock valued at $289,357,000 after purchasing an additional 128,263 shares during the period. 93.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on CDW. Barclays cut their price objective 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. Stifel Nicolaus lifted their price target on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Finally, Northcoast Research raised 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. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, CDW currently has an average rating of “Moderate Buy” and a consensus target price of $254.63.

CDW Trading Down 1.1 %

Shares of CDW stock opened at $225.30 on Friday. The company has a market capitalization 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. CDW Co. has a 52-week low of $185.04 and a 52-week high of $263.37. The business’s fifty day moving average is $222.12 and its 200 day moving average is $230.08. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.02 and a current ratio of 1.13.

CDW (NASDAQ:CDW) last released its quarterly 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). CDW had a net margin of 5.29% and a return on equity of 62.22%. The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same period in the previous year, the business earned $2.43 EPS. The business’s revenue was down 3.6% on a year-over-year basis. On average, equities research analysts anticipate that CDW Co. will post 9.4 EPS for the current fiscal year.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders 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 1.10%. CDW’s dividend payout ratio is presently 30.96%.

Insider Transactions at CDW

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

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.