Romano Brothers AND Company Trims Holdings in CDW Co. (NASDAQ:CDW)

Romano Brothers AND Company reduced its stake in shares of CDW Co. (NASDAQ:CDW) by 4.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,522 shares of the information technology services provider’s stock after selling 75 shares during the quarter. Romano Brothers AND Company’s holdings in CDW were worth $389,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. 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 holdings in shares of CDW by 627.3% in 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 acquiring an additional 539,745 shares in the last quarter. Norges Bank purchased a new stake in CDW in the fourth quarter worth about $111,736,000. The Manufacturers Life Insurance Company grew its holdings in CDW by 91.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 728,446 shares of the information technology services provider’s stock worth $146,971,000 after acquiring an additional 348,749 shares in the last quarter. Finally, Lazard Asset Management LLC increased its position in CDW by 459.5% during the 3rd quarter. Lazard Asset Management LLC now owns 252,272 shares of the information technology services provider’s stock valued at $50,898,000 after purchasing an additional 207,184 shares during the period. 93.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Evercore ISI upped their price target on shares of CDW from $250.00 to $300.00 and gave the stock 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. Stifel Nicolaus reduced their price target on CDW from $265.00 to $250.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Barclays cut their target price 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, Citigroup decreased their price target on shares of CDW from $295.00 to $260.00 and set a “buy” 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $250.00.

CDW Stock Performance

Shares of CDW stock opened at $223.84 on Friday. The firm has a market capitalization of $30.08 billion, a P/E ratio of 27.95, a PEG ratio of 3.30 and a beta of 1.06. CDW Co. has a 52 week low of $176.89 and a 52 week high of $263.37. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 2.35. The company has a 50 day moving average price of $227.37 and a 200 day moving average price of $233.76.

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 analysts’ expectations of $4.94 billion. CDW had a return on equity of 67.56% and a net margin of 5.16%. Sell-side analysts expect that CDW Co. will post 9.67 EPS for the current year.

CDW Dividend Announcement

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

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.