CDW Co. (NASDAQ:CDW) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lowered its stake in CDW Co. (NASDAQ:CDW) by 1.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 47,492 shares of the information technology services provider’s stock after selling 531 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in CDW were worth $12,147,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. UBS Group AG grew its stake in CDW by 60.7% in the 4th quarter. UBS Group AG now owns 194,686 shares of the information technology services provider’s stock valued at $44,256,000 after acquiring an additional 73,503 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in CDW by 16.1% during the 4th 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 last quarter. Cerity Partners LLC boosted its stake in CDW by 44.9% during the 4th quarter. Cerity Partners LLC now owns 14,553 shares of the information technology services provider’s stock worth $3,308,000 after purchasing an additional 4,511 shares during the last quarter. Rafferty Asset Management LLC boosted its stake in CDW by 157.3% during the 4th quarter. Rafferty Asset Management LLC now owns 90,362 shares of the information technology services provider’s stock worth $20,541,000 after purchasing an additional 55,239 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in CDW by 84.9% during the 4th quarter. Pacer Advisors Inc. now owns 15,924 shares of the information technology services provider’s stock worth $3,620,000 after purchasing an additional 7,310 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on CDW shares. JPMorgan Chase & Co. lowered their target price on shares of CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Evercore ISI lifted their price target on CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. 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. Stifel Nicolaus reduced their price target on CDW from $265.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Finally, Barclays reduced 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. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $250.00.

CDW Stock Down 0.1 %

Shares of CDW opened at $223.84 on Friday. The firm has a market cap of $30.08 billion, a P/E ratio of 27.95, a price-to-earnings-growth ratio of 3.29 and a beta of 1.06. CDW Co. has a 12-month low of $176.89 and a 12-month high of $263.37. The company’s 50-day moving average price is $227.37 and its 200 day moving average price is $233.65. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 2.35.

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 analysts’ expectations of $4.94 billion. CDW had a net margin of 5.16% and a return on equity of 67.56%. On average, sell-side analysts forecast that CDW Co. will post 9.67 earnings per share for the current year.

CDW Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 1.11%. The ex-dividend date was Thursday, May 23rd. CDW’s dividend payout ratio is currently 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.