CDW Co. (NASDAQ:CDW) Stock Holdings Trimmed by US Bancorp DE

US Bancorp DE lowered its holdings in shares of CDW Co. (NASDAQ:CDW) by 7.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,856 shares of the information technology services provider’s stock after selling 3,637 shares during the period. US Bancorp DE’s holdings in CDW were worth $11,218,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CDW. UBS Group AG increased its position in shares of CDW by 60.7% during the 4th quarter. UBS Group AG now owns 194,686 shares of the information technology services provider’s stock valued at $44,256,000 after purchasing an additional 73,503 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in shares of CDW by 16.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 49,011 shares of the information technology services provider’s stock worth $11,141,000 after acquiring an additional 6,799 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of CDW by 44.9% in the 4th quarter. Cerity Partners LLC now owns 14,553 shares of the information technology services provider’s stock worth $3,308,000 after acquiring an additional 4,511 shares during the last quarter. Rafferty Asset Management LLC grew its holdings in shares of CDW by 157.3% in the 4th quarter. Rafferty Asset Management LLC now owns 90,362 shares of the information technology services provider’s stock worth $20,541,000 after acquiring an additional 55,239 shares during the last quarter. Finally, Insight Wealth Strategies LLC acquired a new position in shares of CDW in the 1st quarter worth $3,940,000. Institutional investors own 93.15% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CDW. Northcoast Research upgraded CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price on the stock in a report on Friday, June 7th. JPMorgan Chase & Co. decreased their target price on CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Barclays decreased their target price on CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Stifel Nicolaus decreased their target price on CDW from $265.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Finally, Citigroup decreased their target price on CDW from $295.00 to $260.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $250.00.

CDW Stock Up 3.0 %

Shares of CDW stock traded up $7.07 on Tuesday, reaching $239.84. 1,025,388 shares of the company’s stock traded hands, compared to its average volume of 792,986. CDW Co. has a 12-month low of $184.99 and a 12-month high of $263.37. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.13 and a current ratio of 1.26. The company has a market capitalization of $32.23 billion, a P/E ratio of 29.94, a price-to-earnings-growth ratio of 3.37 and a beta of 1.04. The business’s 50 day moving average price is $224.94 and its two-hundred day moving average price is $233.60.

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

CDW Announces Dividend

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 dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $2.48 dividend on an annualized basis and a yield of 1.03%. CDW’s payout ratio is 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.