Royal London Asset Management Ltd. Sells 48,738 Shares of CDW Co. (NASDAQ:CDW)

Royal London Asset Management Ltd. trimmed its position in CDW Co. (NASDAQ:CDW) by 14.8% during the second quarter, HoldingsChannel.com reports. The institutional investor 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.’s holdings in CDW were worth $63,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Tsfg LLC bought a new position in shares of CDW during the first quarter worth approximately $26,000. Rise Advisors LLC acquired a new stake in CDW during the first quarter worth approximately $34,000. ORG Partners LLC bought a new position in CDW during the 2nd quarter worth $34,000. Quest Partners LLC acquired a new position in CDW in the 2nd quarter valued at $35,000. Finally, Summit Securities Group LLC bought a new stake in shares of CDW during the 2nd quarter valued at $40,000. Institutional investors own 93.15% of the company’s stock.

Insider Activity at CDW

In other news, insider Sona Chawla sold 18,437 shares of the business’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 directly 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 is accessible through the SEC website. In related news, insider Christine A. Leahy bought 1,200 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was acquired at an average cost of $216.15 per share, with a total value of $259,380.00. Following the transaction, the insider now directly owns 102,200 shares in the company, valued at $22,090,530. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value 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 disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Stifel Nicolaus raised their price target on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. 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 report on Friday, June 7th. Finally, Barclays dropped their target price on shares of 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 research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, CDW has a consensus rating of “Moderate Buy” and a consensus price target of $254.63.

CDW Stock Up 0.9 %

Shares of NASDAQ CDW opened at $214.14 on Tuesday. The company has a market cap of $28.60 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 3.22 and a beta of 1.04. The company has a current ratio of 1.13, a quick ratio of 1.02 and a debt-to-equity ratio of 2.03. CDW Co. has a 12 month low of $185.04 and a 12 month high of $263.37. The stock has a 50-day moving average price of $221.81 and a two-hundred day moving average price of $231.43.

CDW (NASDAQ:CDW) last released 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 company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.43 billion. CDW had a return on equity of 62.22% and a net margin of 5.29%. CDW’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.43 earnings per share. As a group, analysts forecast that CDW Co. will post 9.4 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 26th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is 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.