American Century Companies Inc. Sells 214,190 Shares of CDW Co. (NASDAQ:CDW)

American Century Companies Inc. decreased its position in shares of CDW Co. (NASDAQ:CDW) by 27.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 0.42% of CDW worth $125,624,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of CDW. Tsfg LLC purchased a new position in CDW during the 1st quarter worth $26,000. Rise Advisors LLC purchased a new stake in shares of CDW during the first quarter worth about $34,000. ORG Partners LLC acquired a new position in shares of CDW during the second quarter valued at about $34,000. Quest Partners LLC acquired a new position in shares of CDW during the second quarter valued at about $35,000. Finally, Summit Securities Group LLC purchased a new position in shares of CDW in the 2nd quarter valued at approximately $40,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on CDW shares. Northcoast Research upgraded shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target on the stock in a research note on Friday, June 7th. Stifel Nicolaus upped their target price on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Finally, Barclays reduced their target price on CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a research note 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $254.63.

CDW Stock Performance

CDW opened at $220.15 on Friday. The stock has a market cap of $29.41 billion, a P/E ratio of 27.48, a P/E/G ratio of 3.27 and a beta of 1.04. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.13 and a quick ratio of 1.02. The firm has a fifty day moving average price of $221.71 and a 200 day moving average price of $231.02. CDW Co. has a 1 year low of $185.04 and a 1 year high of $263.37.

CDW (NASDAQ:CDW) last released its quarterly 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 return on equity of 62.22% and a net margin of 5.29%. The business had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same period in the previous year, the company posted $2.43 EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. Equities research analysts anticipate 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. Shareholders of record on Monday, August 26th were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Monday, August 26th. CDW’s payout ratio is 30.96%.

Insider Activity

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

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.