Aviance Capital Partners LLC Takes $308,000 Position in CDW Co. (NASDAQ:CDW)

Aviance Capital Partners LLC bought a new position in shares of CDW Co. (NASDAQ:CDW) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,204 shares of the information technology services provider’s stock, valued at approximately $308,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Wellington Management Group LLP increased its position in CDW by 29.1% during the fourth quarter. Wellington Management Group LLP now owns 3,464,886 shares of the information technology services provider’s stock worth $787,638,000 after buying an additional 781,421 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in CDW by 4.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,380,123 shares of the information technology services provider’s stock worth $299,901,000 after buying an additional 64,140 shares during the last quarter. Dimensional Fund Advisors LP increased its position in CDW by 3.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,135,792 shares of the information technology services provider’s stock worth $258,196,000 after buying an additional 33,235 shares during the last quarter. American Century Companies Inc. increased its position in CDW by 2.5% during the third quarter. American Century Companies Inc. now owns 832,548 shares of the information technology services provider’s stock worth $167,975,000 after buying an additional 20,152 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in CDW by 0.4% during the fourth quarter. California Public Employees Retirement System now owns 822,093 shares of the information technology services provider’s stock worth $186,878,000 after buying an additional 3,082 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CDW shares. Evercore ISI boosted their price target on CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Citigroup decreased their target price on CDW from $295.00 to $260.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. 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. JPMorgan Chase & Co. decreased their target price on CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Finally, Barclays decreased their target price on CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $250.00.

CDW Stock Down 1.6 %

NASDAQ CDW traded down $3.66 during trading hours on Monday, hitting $220.18. The company’s stock had a trading volume of 101,564 shares, compared to its average volume of 775,022. CDW Co. has a 52 week low of $180.38 and a 52 week high of $263.37. The company has a market capitalization of $29.59 billion, a PE ratio of 27.95, a price-to-earnings-growth ratio of 3.30 and a beta of 1.04. 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 company’s 50-day simple moving average is $227.37 and its two-hundred day simple moving average is $233.87.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 EPS for the quarter, missing the consensus estimate of $2.04 by ($0.15). The firm had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $4.94 billion. CDW had a return on equity of 67.56% and a net margin of 5.16%. Research analysts anticipate that CDW Co. will post 9.67 EPS for the current fiscal year.

CDW Dividend Announcement

The business 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 dividend yield of 1.13%. CDW’s dividend payout ratio (DPR) 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.