NorthRock Partners LLC Sells 113 Shares of CDW Co. (NASDAQ:CDW)

NorthRock Partners LLC cut its position in shares of CDW Co. (NASDAQ:CDW) by 6.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,625 shares of the information technology services provider’s stock after selling 113 shares during the period. NorthRock Partners LLC’s holdings in CDW were worth $416,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of CDW. Wellington Management Group LLP raised its position 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 purchasing an additional 781,421 shares in the last quarter. First Trust Advisors LP raised its position in CDW by 627.3% during the 4th quarter. First Trust Advisors LP now owns 625,781 shares of the information technology services provider’s stock valued at $142,252,000 after purchasing an additional 539,745 shares in the last quarter. Norges Bank bought a new stake in CDW during the 4th quarter valued at $111,736,000. Pensioenfonds Rail & OV bought a new stake in CDW during the 1st quarter valued at $44,711,000. Finally, BNP Paribas Financial Markets raised its position in CDW by 188.4% during the 1st quarter. BNP Paribas Financial Markets now owns 212,994 shares of the information technology services provider’s stock valued at $54,480,000 after purchasing an additional 139,145 shares in the last quarter. 93.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CDW shares. Citigroup decreased their target price on CDW from $295.00 to $260.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Northcoast Research upgraded CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target on the stock in a report on Friday, June 7th. Evercore ISI lifted their price target on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Barclays cut their price target on CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. cut their price target on CDW from $280.00 to $265.00 and set an “overweight” 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 issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $250.00.

CDW Stock Performance

Shares of CDW stock traded up $3.78 on Tuesday, hitting $236.55. The company had a trading volume of 53,724 shares, compared to its average volume of 785,788. The firm has a market cap of $31.79 billion, a P/E ratio of 29.06, a price-to-earnings-growth ratio of 3.37 and a beta of 1.04. The company has a 50-day moving average price of $224.56 and a 200-day moving average price of $233.51. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 2.35. CDW Co. has a twelve month low of $184.99 and a twelve month high of $263.37.

CDW (NASDAQ:CDW) last issued its quarterly earnings data 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 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%. As a group, equities research analysts predict that CDW Co. will post 9.67 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Friday, May 24th were issued a $0.62 dividend. 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 1.05%. CDW’s payout ratio is 30.96%.

CDW Company 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.