CDW Co. (NASDAQ:CDW) Stake Lowered by Entropy Technologies LP

Entropy Technologies LP lowered its position in CDW Co. (NASDAQ:CDW) by 66.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,345 shares of the information technology services provider’s stock after selling 8,442 shares during the period. Entropy Technologies LP’s holdings in CDW were worth $1,111,000 at the end of the most recent reporting period.

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

CDW Stock Performance

Shares of CDW traded down $2.86 on Wednesday, reaching $236.98. 1,041,613 shares of the stock traded hands, compared to its average volume of 794,813. The stock’s 50-day moving average price is $225.28 and its 200-day moving average price is $233.62. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.26 and a quick ratio of 1.13. The firm has a market cap of $31.85 billion, a price-to-earnings ratio of 29.59, a P/E/G ratio of 3.43 and a beta of 1.04. CDW Co. has a 12 month low of $184.99 and a 12 month high of $263.37.

CDW (NASDAQ:CDW) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $4.94 billion. CDW had a net margin of 5.16% and a return on equity of 67.56%. Equities analysts forecast that CDW Co. will post 9.67 EPS for the current fiscal year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Friday, May 24th were paid a $0.62 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $2.48 annualized dividend and a dividend yield of 1.05%. CDW’s dividend payout ratio is currently 30.96%.

Wall Street Analyst Weigh In

CDW has been the topic of a number of research analyst reports. Barclays lowered their target price on shares of CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 2nd. Evercore ISI raised their price target on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Northcoast Research raised CDW from a “neutral” rating to a “buy” rating and set a $270.00 price objective for the company in a research report on Friday, June 7th. Citigroup decreased their target price on CDW from $295.00 to $260.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Finally, Stifel Nicolaus lifted their price target on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, CDW has a consensus rating of “Moderate Buy” and a consensus target price of $251.11.

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.