Silvercrest Asset Management Group LLC Sells 1,636 Shares of CDW Co. (NASDAQ:CDW)

Silvercrest Asset Management Group LLC trimmed its position in CDW Co. (NASDAQ:CDW) by 1.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,251 shares of the information technology services provider’s stock after selling 1,636 shares during the quarter. Silvercrest Asset Management Group LLC owned about 0.11% of CDW worth $36,385,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in CDW by 29.1% during 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 buying an additional 781,421 shares during the period. Vanguard Group Inc. increased its stake in shares of CDW by 4.6% during 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. Lazard Asset Management LLC increased its stake in shares of CDW by 225.9% during the first quarter. Lazard Asset Management LLC now owns 881,586 shares of the information technology services provider’s stock valued at $225,491,000 after buying an additional 611,054 shares during the period. First Trust Advisors LP increased its stake in shares of 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 valued at $142,252,000 after buying an additional 539,745 shares during the period. Finally, Norges Bank purchased a new position in shares of CDW during the fourth quarter valued at $111,736,000. 93.15% of the stock is currently owned by institutional investors.

CDW Stock Down 0.3 %

CDW stock traded down $0.65 during mid-day trading on Tuesday, reaching $230.74. The company had a trading volume of 558,676 shares, compared to its average volume of 787,836. 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 $31.01 billion, a price-to-earnings ratio of 29.39, a price-to-earnings-growth ratio of 3.39 and a beta of 1.04. The firm has a fifty day simple moving average of $226.39 and a 200 day simple moving average of $234.36. CDW Co. has a fifty-two week low of $184.99 and a fifty-two week high of $263.37.

CDW (NASDAQ:CDW) last posted its quarterly earnings results 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 company had revenue of $4.87 billion during 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%. Analysts forecast that CDW Co. will post 9.67 earnings per share for the current fiscal year.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders 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 1.07%. The ex-dividend date was Thursday, May 23rd. CDW’s dividend payout ratio is currently 30.96%.

Insider Buying and Selling at CDW

In other CDW news, insider Sona Chawla sold 18,437 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total value of $4,433,176.65. Following the sale, the insider now owns 22,428 shares of the company’s stock, valued at approximately $5,392,812.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CDW shares. Stifel Nicolaus raised their price objective on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. dropped 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. Citigroup dropped their price target on CDW from $295.00 to $260.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Barclays dropped their price target on CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 2nd. Finally, Northcoast Research upgraded CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target on the stock in a research note on Friday, June 7th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, CDW has an average rating of “Moderate Buy” and an average target price of $251.11.

CDW Profile

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.