National Bank of Canada FI Has $16.91 Million Holdings in CDW Co. (NASDAQ:CDW)

National Bank of Canada FI trimmed its holdings in CDW Co. (NASDAQ:CDW) by 38.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,129 shares of the information technology services provider’s stock after selling 40,566 shares during the quarter. National Bank of Canada FI’s holdings in CDW were worth $16,914,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Wellington Management Group LLP boosted its holdings in CDW by 29.1% in the 4th quarter. Wellington Management Group LLP now owns 3,464,886 shares of the information technology services provider’s stock valued at $787,638,000 after purchasing an additional 781,421 shares during the period. Vanguard Group Inc. lifted its stake in shares of CDW by 4.6% in the first quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider’s stock valued at $4,196,721,000 after buying an additional 714,393 shares during the period. First Trust Advisors LP grew its position in CDW by 627.3% during the fourth quarter. First Trust Advisors LP now owns 625,781 shares of the information technology services provider’s stock worth $142,252,000 after buying an additional 539,745 shares in the last quarter. Norges Bank bought a new position in CDW during the fourth quarter valued at about $111,736,000. Finally, Pensioenfonds Rail & OV bought a new position in CDW during the first quarter valued at about $44,711,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Price Performance

CDW stock traded down $0.94 during trading hours on Wednesday, hitting $229.21. 1,007,214 shares of the stock were exchanged, compared to its average volume of 789,277. The stock has a market capitalization of $30.81 billion, a P/E ratio of 28.62, a P/E/G ratio of 3.43 and a beta of 1.04. The business’s 50-day moving average is $226.00 and its two-hundred day moving average is $234.07. 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 Co. has a 12 month low of $184.99 and a 12 month high of $263.37.

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

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date was Thursday, May 23rd. CDW’s dividend payout ratio is presently 30.96%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CDW shares. JPMorgan Chase & Co. decreased their price objective on CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Citigroup lowered their price target on shares of CDW from $295.00 to $260.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Barclays reduced their price objective 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. Northcoast Research raised shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price on the stock in a research note on Friday, June 7th. Finally, Stifel Nicolaus increased their price target on shares of CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Three 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $251.11.

Insider Transactions at CDW

In related news, insider Sona Chawla sold 18,437 shares of the firm’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 $5,392,812.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.90% of the stock is owned by company insiders.

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.