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 - Free Report) by 14.8% in the second quarter, according to its most recent filing with the SEC. 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. owned about 0.21% of CDW worth $63,026,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CDW. Aaron Wealth Advisors LLC raised its holdings in shares of CDW by 2.8% in the 1st quarter. Aaron Wealth Advisors LLC now owns 1,540 shares of the information technology services provider's stock worth $394,000 after purchasing an additional 42 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in CDW by 5.9% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 767 shares of the information technology services provider's stock worth $196,000 after buying an additional 43 shares during the period. RDA Financial Network boosted its holdings in shares of CDW by 3.0% in the second quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider's stock worth $355,000 after acquiring an additional 46 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its position in shares of CDW by 1.4% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,446 shares of the information technology services provider's stock valued at $881,000 after buying an additional 47 shares during the period. Finally, Prestige Wealth Management Group LLC increased its holdings in CDW by 6.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 811 shares of the information technology services provider's stock worth $184,000 after acquiring an additional 49 shares during the period. Hedge funds and other institutional investors own 93.15% of the company's stock.

Insider Buying and Selling

In other news, insider Christine A. Leahy acquired 1,200 shares of the firm's stock in a transaction on Thursday, August 1st. The shares were purchased at an average price of $216.15 per share, for a total transaction of $259,380.00. Following the completion of the transaction, the insider now owns 102,200 shares of the company's stock, valued at $22,090,530. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Sona Chawla sold 18,437 shares of CDW 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 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 is accessible through this hyperlink. Also, insider Christine A. Leahy acquired 1,200 shares of CDW stock in a transaction on Thursday, August 1st. The shares were bought at an average cost of $216.15 per share, for a total transaction of $259,380.00. Following the completion of the transaction, 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 insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CDW shares. Stifel Nicolaus boosted their target price on CDW from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Wednesday, July 17th. Barclays decreased their price target on shares of CDW from $232.00 to $229.00 and set an "equal weight" rating on the stock in a report on Thursday, August 1st. Finally, Northcoast Research raised shares of CDW from a "neutral" rating to a "buy" rating and set a $270.00 price objective for the company in a report on Friday, June 7th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $254.63.

CDW Trading Up 0.8 %

Shares of CDW stock traded up $1.72 during trading on Tuesday, reaching $215.86. The company's stock had a trading volume of 745,795 shares, compared to its average volume of 833,155. 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 company has a market cap of $28.83 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 3.22 and a beta of 1.04. The firm's 50-day moving average is $221.81 and its two-hundred day moving average is $231.43. CDW Co. has a 52-week low of $185.04 and a 52-week high of $263.37.

CDW (NASDAQ:CDW - Get Free Report) last released its earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share 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 the consensus estimate of $5.43 billion. During the same period last year, the firm posted $2.43 EPS. The company's revenue was down 3.6% on a year-over-year basis. On average, sell-side analysts anticipate that CDW Co. will post 9.4 earnings per share for the current year.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Monday, August 26th. CDW's dividend payout ratio is 30.96%.

CDW 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.