Commonwealth Equity Services LLC Cuts Stock Holdings in CDW Co. (NASDAQ:CDW)

Commonwealth Equity Services LLC trimmed its holdings in shares of CDW Co. (NASDAQ:CDW) by 3.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,741 shares of the information technology services provider’s stock after selling 261 shares during the period. Commonwealth Equity Services LLC’s holdings in CDW were worth $1,980,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CDW. Aaron Wealth Advisors LLC boosted its holdings in shares of CDW by 2.8% during the first quarter. Aaron Wealth Advisors LLC now owns 1,540 shares of the information technology services provider’s stock worth $394,000 after purchasing an additional 42 shares during the period. Massmutual Trust Co. FSB ADV grew its stake in shares of CDW by 5.9% in the first quarter. Massmutual Trust Co. FSB ADV now owns 767 shares of the information technology services provider’s stock worth $196,000 after purchasing an additional 43 shares during the last quarter. Prestige Wealth Management Group LLC grew its stake in shares of CDW by 6.4% in the fourth quarter. Prestige Wealth Management Group LLC now owns 811 shares of the information technology services provider’s stock worth $184,000 after purchasing an additional 49 shares during the last quarter. Scotia Capital Inc. grew its stake in shares of CDW by 1.5% in the third quarter. Scotia Capital Inc. now owns 3,495 shares of the information technology services provider’s stock worth $705,000 after purchasing an additional 50 shares during the last quarter. Finally, Checchi Capital Advisers LLC boosted its position in CDW by 3.4% during the 4th quarter. Checchi Capital Advisers LLC now owns 1,502 shares of the information technology services provider’s stock valued at $341,000 after acquiring an additional 50 shares in the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Price Performance

Shares of CDW traded down $2.59 during midday trading on Friday, hitting $215.52. 234,781 shares of the company traded hands, compared to its average volume of 778,004. The firm has a 50 day moving average of $225.61 and a 200-day moving average of $233.62. CDW Co. has a 52 week low of $180.38 and a 52 week high of $263.37. The stock has a market cap of $28.97 billion, a price-to-earnings ratio of 27.23, a PEG ratio of 3.21 and a beta of 1.04. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.13 and a current ratio of 1.26.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($0.15). The business had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $4.94 billion. CDW had a net margin of 5.16% and a return on equity of 67.56%. On average, analysts forecast that CDW Co. will post 9.67 EPS for the current fiscal year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Friday, May 24th were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date was Thursday, May 23rd. CDW’s dividend payout ratio (DPR) is currently 30.96%.

Analysts Set New Price Targets

Several analysts have weighed in on CDW shares. JPMorgan Chase & Co. cut 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. Evercore ISI lifted their target price on shares of CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Northcoast Research upgraded shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price for the company in a report on Friday, June 7th. Stifel Nicolaus lowered their target price on shares of CDW from $265.00 to $250.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Finally, Barclays lowered their target price on shares of CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $250.00.

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.