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

Copeland Capital Management LLC lessened its stake in CDW Co. (NASDAQ:CDW) by 3.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,192 shares of the information technology services provider’s stock after selling 2,680 shares during the period. Copeland Capital Management LLC’s holdings in CDW were worth $14,979,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of CDW by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider’s stock valued at $4,196,721,000 after purchasing an additional 714,393 shares in the last quarter. Mawer Investment Management Ltd. boosted its stake in shares of CDW by 0.9% in the 1st quarter. Mawer Investment Management Ltd. now owns 3,101,924 shares of the information technology services provider’s stock valued at $793,410,000 after purchasing an additional 27,753 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of CDW by 3.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,431,573 shares of the information technology services provider’s stock valued at $366,168,000 after purchasing an additional 51,450 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of CDW by 11.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,292,674 shares of the information technology services provider’s stock valued at $289,357,000 after purchasing an additional 128,263 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in shares of CDW by 225.9% in the 1st quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider’s stock valued at $225,491,000 after purchasing an additional 611,054 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Insider Transactions at CDW

In other CDW news, insider Christine A. Leahy bought 1,200 shares of CDW stock in a transaction dated Thursday, August 1st. The shares were purchased at an average cost of $216.15 per share, with a total value of $259,380.00. Following the transaction, the insider now directly owns 102,200 shares of the company’s stock, valued at $22,090,530. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

CDW has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their price target on shares of CDW from $250.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Barclays lowered their price target on shares of CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. Finally, Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and lowered their price target for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, CDW presently has an average rating of “Moderate Buy” and a consensus target price of $255.00.

CDW Stock Down 1.5 %

Shares of NASDAQ CDW opened at $217.08 on Wednesday. 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 Co. has a 12 month low of $185.04 and a 12 month high of $263.37. The firm has a market capitalization of $29.18 billion, a PE ratio of 27.10, a price-to-earnings-growth ratio of 3.42 and a beta of 1.03. The firm has a fifty day simple moving average of $221.65 and a two-hundred day simple moving average of $225.26.

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

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend was Monday, August 26th. CDW’s dividend payout ratio is presently 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.