Janiczek Wealth Management LLC Cuts Stake in CDW Co. (NASDAQ:CDW)

Janiczek Wealth Management LLC cut its position in CDW Co. (NASDAQ:CDW) by 14.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 738 shares of the information technology services provider’s stock after selling 126 shares during the quarter. Janiczek Wealth Management LLC’s holdings in CDW were worth $189,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of CDW. Wealthcare Advisory Partners LLC bought a new position in CDW during the 1st quarter worth approximately $1,403,000. Sunbelt Securities Inc. lifted its stake in CDW by 46.2% during the first quarter. Sunbelt Securities Inc. now owns 1,458 shares of the information technology services provider’s stock worth $373,000 after purchasing an additional 461 shares during the last quarter. Atlas Capital Advisors LLC boosted its holdings in CDW by 2.3% in the first quarter. Atlas Capital Advisors LLC now owns 3,901 shares of the information technology services provider’s stock worth $998,000 after purchasing an additional 86 shares during the period. Pensioenfonds Rail & OV bought a new stake in CDW during the first quarter valued at $44,711,000. Finally, Nova R Wealth Inc. acquired a new stake in shares of CDW during the first quarter worth $460,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Trading Up 0.4 %

Shares of NASDAQ:CDW opened at $224.06 on Friday. CDW Co. has a twelve month low of $176.05 and a twelve month high of $263.37. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 2.35. The firm has a market cap of $30.11 billion, a P/E ratio of 27.97, a P/E/G ratio of 3.29 and a beta of 1.06. The company has a 50 day moving average of $227.60 and a 200-day moving average of $233.59.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 earnings per share 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 firm had revenue of $4.87 billion during the quarter, compared to analyst estimates of $4.94 billion. As a group, analysts anticipate that CDW Co. will post 9.67 earnings per share for the current fiscal year.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Friday, May 24th were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $2.48 annualized dividend and a yield of 1.11%. CDW’s dividend payout ratio is currently 30.96%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CDW. Stifel Nicolaus lowered their price objective on shares of CDW from $265.00 to $250.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Evercore ISI boosted their price objective 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 target price on the stock in a research report on Friday, June 7th. Barclays reduced their price target 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. Finally, JPMorgan Chase & Co. decreased their target price on shares of CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CDW presently has an average rating of “Moderate Buy” and a consensus target price of $250.00.

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.