Royal London Asset Management Ltd. Sells 166,637 Shares of CDW Corporation $CDW

Royal London Asset Management Ltd. cut its stake in CDW Corporation (NASDAQ:CDW) by 65.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 88,052 shares of the information technology services provider’s stock after selling 166,637 shares during the period. Royal London Asset Management Ltd. owned approximately 0.07% of CDW worth $12,384,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in CDW. Jones Financial Companies Lllp boosted its position in shares of CDW by 316.0% during the first quarter. Jones Financial Companies Lllp now owns 4,896 shares of the information technology services provider’s stock worth $785,000 after buying an additional 3,719 shares during the period. Empowered Funds LLC grew its holdings in shares of CDW by 1.2% during the first quarter. Empowered Funds LLC now owns 18,076 shares of the information technology services provider’s stock worth $2,897,000 after buying an additional 216 shares in the last quarter. California State Teachers Retirement System raised its position in CDW by 0.6% in the 2nd quarter. California State Teachers Retirement System now owns 225,709 shares of the information technology services provider’s stock valued at $40,309,000 after buying an additional 1,242 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its position in CDW by 1,339.7% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 49,380 shares of the information technology services provider’s stock valued at $8,819,000 after buying an additional 45,950 shares during the last quarter. Finally, State of Tennessee Department of Treasury raised its position in CDW by 17.7% in the 2nd quarter. State of Tennessee Department of Treasury now owns 40,927 shares of the information technology services provider’s stock valued at $7,309,000 after buying an additional 6,143 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

Insiders Place Their Bets

In other CDW news, insider Elizabeth H. Connelly sold 26,695 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $137.62, for a total transaction of $3,673,765.90. Following the sale, the insider directly owned 34,215 shares of the company’s stock, valued at approximately $4,708,668.30. This represents a 43.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CDW shares. UBS Group reduced their price target on CDW from $162.00 to $147.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. JPMorgan Chase & Co. upgraded shares of CDW from a “neutral” rating to an “overweight” rating and set a $130.00 price objective on the stock in a report on Wednesday, May 27th. Raymond James Financial set a $150.00 target price on shares of CDW in a report on Wednesday, May 6th. Weiss Ratings raised shares of CDW from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. Finally, Barclays decreased their target price on shares of CDW from $144.00 to $123.00 and set an “equal weight” rating for the company in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $147.00.

CDW Stock Performance

Shares of NASDAQ CDW opened at $151.58 on Tuesday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.05 and a current ratio of 1.17. The stock has a 50 day moving average price of $138.29 and a 200 day moving average price of $128.62. The stock has a market capitalization of $18.95 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 1.94 and a beta of 0.96. CDW Corporation has a 52 week low of $97.12 and a 52 week high of $171.55.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.11. CDW had a return on equity of 50.61% and a net margin of 4.60%.The firm had revenue of $6.57 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same quarter in the previous year, the firm earned $2.60 EPS. The business’s quarterly revenue was up 10.0% on a year-over-year basis. Analysts predict that CDW Corporation will post 10.33 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Tuesday, August 25th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Tuesday, August 25th. CDW’s payout ratio is presently 30.29%.

CDW Company Profile

CDW (NASDAQ: CDW) is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.

CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.