American Century Companies Inc. Has $125.62 Million Holdings in CDW Co. (NASDAQ:CDW)

American Century Companies Inc. lowered its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 27.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 561,222 shares of the information technology services provider's stock after selling 214,190 shares during the period. American Century Companies Inc. owned about 0.42% of CDW worth $125,624,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CDW. Envestnet Portfolio Solutions Inc. boosted its stake in shares of CDW by 1.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,419 shares of the information technology services provider's stock valued at $1,005,000 after buying an additional 82 shares during the period. Avantax Advisory Services Inc. lifted its stake in shares of CDW by 8.0% in the 4th quarter. Avantax Advisory Services Inc. now owns 5,190 shares of the information technology services provider's stock valued at $1,180,000 after purchasing an additional 385 shares during the last quarter. Westpac Banking Corp lifted its stake in shares of CDW by 39.5% in the 4th quarter. Westpac Banking Corp now owns 773 shares of the information technology services provider's stock valued at $176,000 after purchasing an additional 219 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of CDW by 1.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 38,557 shares of the information technology services provider's stock valued at $8,765,000 after purchasing an additional 543 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in shares of CDW by 13.7% in the 4th quarter. Quadrant Capital Group LLC now owns 1,913 shares of the information technology services provider's stock valued at $435,000 after purchasing an additional 230 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CDW shares. Stifel Nicolaus lifted their price objective on shares of CDW from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Wednesday, July 17th. 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 research note on Friday, June 7th. Finally, Barclays cut 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 equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $254.63.

Insider Transactions at CDW

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

CDW Stock Performance

Shares of NASDAQ:CDW traded up $1.51 on Friday, hitting $220.15. 509,704 shares of the company were exchanged, compared to its average volume of 829,136. The company's 50 day moving average price is $221.79 and its two-hundred day moving average price is $230.75. CDW Co. has a one year low of $185.04 and a one year high of $263.37. 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 firm has a market capitalization of $29.41 billion, a price-to-earnings ratio of 27.48, a PEG ratio of 3.27 and a beta of 1.04.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.05). CDW had a return on equity of 62.22% and a net margin of 5.29%. The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter in the previous year, the firm posted $2.43 EPS. The business's revenue for the quarter was down 3.6% compared to the same quarter last year. Research analysts expect that CDW Co. will post 9.4 earnings per share for the current year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were issued a dividend of $0.62 per share. The ex-dividend date was Monday, August 26th. This represents a $2.48 annualized dividend and a dividend yield of 1.13%. CDW's payout ratio is 30.96%.

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.