Mutual of America Capital Management LLC Trims Position in CDW Co. (NASDAQ:CDW)

Mutual of America Capital Management LLC decreased its position in shares of CDW Co. (NASDAQ:CDW) by 3.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,947 shares of the information technology services provider’s stock after selling 616 shares during the quarter. Mutual of America Capital Management LLC’s holdings in CDW were worth $3,793,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. UBS Group AG raised its position in CDW by 60.7% in the fourth quarter. UBS Group AG now owns 194,686 shares of the information technology services provider’s stock valued at $44,256,000 after purchasing an additional 73,503 shares during the period. D.A. Davidson & CO. acquired a new position in CDW in the fourth quarter valued at about $348,000. Assetmark Inc. boosted its stake in CDW by 37.4% during the fourth quarter. Assetmark Inc. now owns 511 shares of the information technology services provider’s stock worth $116,000 after buying an additional 139 shares during the period. Franklin Resources Inc. increased its position in shares of CDW by 4.2% during the fourth quarter. Franklin Resources Inc. now owns 88,346 shares of the information technology services provider’s stock valued at $20,083,000 after acquiring an additional 3,587 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its stake in shares of CDW by 2.3% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 5,965 shares of the information technology services provider’s stock valued at $1,356,000 after acquiring an additional 133 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. 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. Barclays dropped their price objective on CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Finally, Northcoast Research raised 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. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.63.

CDW Stock Performance

Shares of CDW opened at $225.30 on Monday. CDW Co. has a 1 year low of $185.04 and a 1 year high of $263.37. The stock has a market capitalization of $30.28 billion, a PE ratio of 28.13, a PEG ratio of 3.27 and a beta of 1.04. 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 stock has a 50-day simple moving average of $222.12 and a 200-day simple moving average of $229.85.

CDW (NASDAQ:CDW) last issued its quarterly 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 return on equity of 62.22% and a net margin of 5.29%. The firm had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter in the prior year, the firm earned $2.43 EPS. The firm’s revenue was down 3.6% compared to the same quarter last year. On average, analysts predict that CDW Co. will post 9.4 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm 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. 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 is presently 30.96%.

Insiders Place Their Bets

In other CDW news, insider Christine A. Leahy acquired 1,200 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were 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 purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Sona Chawla sold 18,437 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $240.45, for a total value 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 $5,392,812.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Christine A. Leahy acquired 1,200 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were purchased at an average cost of $216.15 per share, for a total transaction of $259,380.00. Following the acquisition, the insider now owns 102,200 shares of the company’s stock, valued at approximately $22,090,530. The disclosure for this purchase can be found here. 0.90% of the stock is owned by company insiders.

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.