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

Royal London Asset Management Ltd. lessened its holdings in shares of CDW Corporation (NASDAQ:CDW) by 65.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 88,052 shares of the information technology services provider’s stock after selling 166,637 shares during the quarter. Royal London Asset Management Ltd.’s holdings in CDW were worth $12,384,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Hollencrest Capital Management lifted its position in shares of CDW by 909.1% in the first quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 200 shares during the last quarter. Allied Private Wealth LLC bought a new position in shares of CDW during the 2nd quarter worth approximately $28,000. Keating Financial Advisory Services Inc. acquired a new position in shares of CDW during the 2nd quarter worth approximately $28,000. Root Financial Partners LLC increased its holdings in shares of CDW by 54.7% during the 1st quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider’s stock worth $32,000 after acquiring an additional 93 shares during the last quarter. Finally, Johnson Financial Group Inc. bought a new stake in CDW in the 2nd quarter valued at $51,000. Institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

NASDAQ:CDW opened at $151.58 on Tuesday. The stock has a market cap of $18.95 billion, a P/E ratio of 18.22, a PEG ratio of 1.94 and a beta of 0.96. The stock has a 50 day simple moving average of $138.29 and a 200 day simple moving average of $128.62. The company has a current ratio of 1.17, a quick ratio of 1.05 and a debt-to-equity ratio of 1.97. CDW Corporation has a 1-year low of $97.12 and a 1-year high of $171.55.

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

CDW Dividend Announcement

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

Analyst Upgrades and Downgrades

CDW has been the subject of several research reports. Barclays cut their price target on CDW from $144.00 to $123.00 and set an “equal weight” rating for the company in a report on Thursday, May 7th. Raymond James Financial set a $150.00 price objective on shares of CDW in a report on Wednesday, May 6th. Morgan Stanley increased their price objective on shares of CDW from $170.00 to $171.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Royal Bank Of Canada upgraded shares of CDW to an “outperform” rating and set a $130.00 target price for the company in a research note on Wednesday, May 27th. Finally, Citigroup lifted their target price on shares of CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

Insider Activity at CDW

In related news, insider Elizabeth H. Connelly sold 26,695 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $137.62, for a total value of $3,673,765.90. Following the transaction, the insider directly owned 34,215 shares in the company, 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 accessible through this link. Company insiders own 0.82% of the company’s stock.

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.