Tributary Capital Management LLC Sells 50 Shares of CDW Co. (NASDAQ:CDW)

Tributary Capital Management LLC lowered its holdings in shares of CDW Co. (NASDAQ:CDW) by 1.9% during the 1st quarter, HoldingsChannel reports. The fund owned 2,540 shares of the information technology services provider’s stock after selling 50 shares during the period. Tributary Capital Management LLC’s holdings in CDW were worth $650,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CDW. Wellington Management Group LLP raised its holdings in CDW by 29.1% in 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. First Trust Advisors LP raised its holdings in 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 worth $142,252,000 after buying an additional 539,745 shares during the last quarter. Norges Bank purchased a new position in CDW in the fourth quarter worth about $111,736,000. The Manufacturers Life Insurance Company raised its holdings in CDW by 91.8% in the third quarter. The Manufacturers Life Insurance Company now owns 728,446 shares of the information technology services provider’s stock worth $146,971,000 after buying an additional 348,749 shares during the last quarter. Finally, Lazard Asset Management LLC raised its holdings in CDW by 459.5% in the third quarter. Lazard Asset Management LLC now owns 252,272 shares of the information technology services provider’s stock worth $50,898,000 after buying an additional 207,184 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CDW shares. Citigroup decreased their price objective on shares of CDW from $295.00 to $260.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Barclays cut their target price on shares of CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. JPMorgan Chase & Co. cut 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. Northcoast Research upgraded shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price for the company in a research report on Friday, June 7th. Finally, Stifel Nicolaus cut their target price 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. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $250.00.

CDW Price Performance

Shares of NASDAQ:CDW traded down $1.45 during midday trading on Tuesday, reaching $217.74. 60,610 shares of the company were exchanged, compared to its average volume of 776,132. The stock has a market cap of $29.26 billion, a PE ratio of 27.36, a price-to-earnings-growth ratio of 3.30 and a beta of 1.04. The business’s fifty day moving average is $227.00 and its two-hundred day moving average is $233.86. 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 Co. has a one year low of $180.38 and a one year high of $263.37.

CDW (NASDAQ:CDW) last released 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 business had revenue of $4.87 billion for 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%. As a group, analysts predict that CDW Co. will post 9.67 earnings per share for the current year.

CDW Dividend Announcement

The firm also recently declared 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. This represents a $2.48 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Thursday, May 23rd. CDW’s payout ratio is 30.96%.

About CDW

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.