Mather Group LLC. Sells 693 Shares of CDW Co. (NASDAQ:CDW)

Mather Group LLC. reduced its position in CDW Co. (NASDAQ:CDW) by 12.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,093 shares of the information technology services provider’s stock after selling 693 shares during the quarter. Mather Group LLC.’s holdings in CDW were worth $1,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Tsfg LLC purchased a new position in CDW in the 1st quarter valued at approximately $26,000. Larson Financial Group LLC purchased a new position in shares of CDW in the fourth quarter valued at $30,000. Rise Advisors LLC bought a new stake in shares of CDW during the 1st quarter valued at $34,000. ORG Partners LLC bought a new stake in shares of CDW during the 4th quarter valued at $36,000. Finally, Oakworth Capital Inc. bought a new position in CDW in the 4th quarter worth about $36,000. 93.15% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several brokerages have recently weighed in on CDW. Barclays decreased their price target on CDW from $232.00 to $229.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Stifel Nicolaus increased their target price 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. Northcoast Research upgraded shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target for the company in a research report on Friday, June 7th. JPMorgan Chase & Co. lowered their price objective on CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Finally, Citigroup dropped their price objective on CDW from $295.00 to $260.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, CDW currently has an average rating of “Moderate Buy” and a consensus price target of $254.63.

CDW Price Performance

NASDAQ:CDW traded up $3.97 during midday trading on Wednesday, hitting $212.42. The company had a trading volume of 159,260 shares, compared to its average volume of 812,700. The company has a market capitalization of $28.55 billion, a PE ratio of 26.02, a P/E/G ratio of 3.17 and a beta of 1.04. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.03. CDW Co. has a 52-week low of $185.04 and a 52-week high of $263.37. The stock’s fifty day moving average price is $224.46 and its 200-day moving average price is $234.08.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.05). The firm had revenue of $5.42 billion for 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 company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period last year, the firm earned $2.43 EPS. As a group, research analysts expect that CDW Co. will post 9.6 earnings per share for the current year.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Monday, August 26th. CDW’s payout ratio is currently 30.96%.

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.