PFS Investments Inc. cut its stake in CDW Co. (NASDAQ:CDW – Get Rating) by 4.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,482 shares of the information technology services provider’s stock after selling 1,370 shares during the quarter. PFS Investments Inc.’s holdings in CDW were worth $5,453,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of CDW. Massachusetts Financial Services Co. MA raised its stake in shares of CDW by 39.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 55,637 shares of the information technology services provider’s stock worth $11,393,000 after purchasing an additional 15,703 shares during the last quarter. Pictet Asset Management SA increased its position in shares of CDW by 1.1% during the fourth quarter. Pictet Asset Management SA now owns 129,872 shares of the information technology services provider’s stock valued at $26,595,000 after acquiring an additional 1,374 shares during the last quarter. Rhumbline Advisers increased its position in shares of CDW by 0.8% during the fourth quarter. Rhumbline Advisers now owns 254,604 shares of the information technology services provider’s stock valued at $52,138,000 after acquiring an additional 2,111 shares during the last quarter. Exencial Wealth Advisors LLC increased its position in shares of CDW by 1.5% during the fourth quarter. Exencial Wealth Advisors LLC now owns 19,126 shares of the information technology services provider’s stock valued at $3,917,000 after acquiring an additional 276 shares during the last quarter. Finally, Covestor Ltd purchased a new stake in shares of CDW during the fourth quarter valued at approximately $118,000. 92.45% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of analysts recently commented on CDW shares. StockNews.com downgraded CDW from a “buy” rating to a “hold” rating in a research report on Tuesday, August 30th. Credit Suisse Group assumed coverage on CDW in a research report on Tuesday, August 16th. They set an “outperform” rating and a $202.00 price target for the company. JPMorgan Chase & Co. raised CDW from a “neutral” rating to an “overweight” rating and set a $200.00 target price for the company in a research report on Thursday, July 14th. Finally, Evercore ISI decreased their target price on CDW from $250.00 to $210.00 and set an “outperform” rating for the company in a research report on Tuesday, June 28th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, CDW has a consensus rating of “Moderate Buy” and an average price target of $213.00.
CDW Price Performance
CDW stock opened at $175.57 on Monday. CDW Co. has a one year low of $152.15 and a one year high of $208.71. The business has a fifty day moving average price of $173.16 and a 200-day moving average price of $170.88. The company has a debt-to-equity ratio of 5.86, a current ratio of 1.30 and a quick ratio of 1.11. The firm has a market capitalization of $23.72 billion, a P/E ratio of 23.89, a PEG ratio of 1.45 and a beta of 1.13.
CDW (NASDAQ:CDW – Get Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The information technology services provider reported $2.36 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.05. CDW had a return on equity of 132.68% and a net margin of 4.41%. The firm had revenue of $6.15 billion during the quarter, compared to analyst estimates of $6.15 billion. During the same period last year, the company earned $1.92 earnings per share. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. As a group, equities research analysts forecast that CDW Co. will post 9.22 EPS for the current year.
CDW Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Thursday, August 25th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend was Wednesday, August 24th. CDW’s payout ratio is currently 27.21%.
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, hybrid, and cloud capabilities across data center and networking, digital workspace, and security.
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