Copeland Capital Management LLC Cuts Stake in CDW Co. (NASDAQ:CDW)

Copeland Capital Management LLC trimmed its position in shares of CDW Co. (NASDAQ:CDW) by 3.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 66,192 shares of the information technology services provider’s stock after selling 2,680 shares during the quarter. Copeland Capital Management LLC’s holdings in CDW were worth $14,979,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Tsfg LLC purchased a new stake in shares of CDW during the 1st quarter valued at about $26,000. ORG Partners LLC purchased a new stake in shares of CDW during the 2nd quarter valued at about $34,000. Quest Partners LLC purchased a new stake in shares of CDW during the 2nd quarter valued at about $35,000. Summit Securities Group LLC purchased a new stake in shares of CDW during the 2nd quarter valued at about $40,000. Finally, Continuum Advisory LLC boosted its holdings in shares of CDW by 1,692.3% during the 2nd quarter. Continuum Advisory LLC now owns 233 shares of the information technology services provider’s stock valued at $52,000 after acquiring an additional 220 shares during the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CDW. Barclays dropped 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. Stifel Nicolaus increased their price objective on shares of CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Finally, Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $255.00.

CDW Price Performance

NASDAQ CDW opened at $217.08 on Wednesday. CDW Co. has a 12 month low of $185.04 and a 12 month high of $263.37. The stock has a market cap of $29.18 billion, a price-to-earnings ratio of 27.10, a PEG ratio of 3.42 and a beta of 1.03. The company’s 50 day moving average is $221.65 and its two-hundred day moving average is $225.26. The company has a current ratio of 1.13, a quick ratio of 1.02 and a debt-to-equity ratio of 2.03.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 EPS 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 firm 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 business posted $2.43 EPS. CDW’s revenue was down 3.6% on a year-over-year basis. As a group, 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. Stockholders of record on Monday, August 26th were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Monday, August 26th. CDW’s payout ratio is currently 30.96%.

Insider Activity

In related news, insider Christine A. Leahy acquired 1,200 shares of CDW stock in a transaction dated 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 directly owns 102,200 shares in the company, valued at approximately $22,090,530. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.