Ballentine Partners LLC Sells 123 Shares of CDW Co. (NASDAQ:CDW)

Ballentine Partners LLC trimmed its holdings in CDW Co. (NASDAQ:CDW) by 2.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,729 shares of the information technology services provider’s stock after selling 123 shares during the quarter. Ballentine Partners LLC’s holdings in CDW were worth $1,465,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Congress Asset Management Co. MA grew its position in CDW by 29.4% in the 1st quarter. Congress Asset Management Co. MA now owns 46,579 shares of the information technology services provider’s stock worth $11,914,000 after purchasing an additional 10,594 shares during the last quarter. Gulf International Bank UK Ltd grew its position in CDW by 0.6% during the first quarter. Gulf International Bank UK Ltd now owns 11,113 shares of the information technology services provider’s stock worth $2,842,000 after buying an additional 65 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. increased its stake in CDW by 33.8% during the first quarter. Financiere des Professionnels Fonds d investissement inc. now owns 4,380 shares of the information technology services provider’s stock valued at $1,120,000 after acquiring an additional 1,106 shares during the period. Wedmont Private Capital raised its holdings in CDW by 3.4% in the 1st quarter. Wedmont Private Capital now owns 1,764 shares of the information technology services provider’s stock valued at $448,000 after acquiring an additional 58 shares in the last quarter. Finally, Czech National Bank lifted its position in shares of CDW by 0.5% in the 1st quarter. Czech National Bank now owns 23,570 shares of the information technology services provider’s stock worth $6,029,000 after acquiring an additional 107 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Price Performance

Shares of CDW stock traded down $1.59 during trading hours on Monday, reaching $233.90. 40,215 shares of the company were exchanged, compared to its average volume of 756,158. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.26 and a quick ratio of 1.13. The company has a market cap of $31.44 billion, a price-to-earnings ratio of 29.40, a P/E/G ratio of 3.42 and a beta of 1.06. The stock’s fifty day moving average is $228.61 and its two-hundred day moving average is $233.52. CDW Co. has a fifty-two week low of $170.96 and a fifty-two week high of $263.37.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, May 1st. The information technology services provider reported $1.89 EPS for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.15). The firm had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $4.94 billion. CDW had a net margin of 5.16% and a return on equity of 67.56%. Sell-side analysts forecast that CDW Co. will post 9.67 earnings per share for the current fiscal year.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th were issued 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 1.06%. CDW’s dividend payout ratio is currently 30.96%.

Analyst Ratings Changes

A number of research analysts recently commented on CDW shares. Citigroup cut their target price on CDW from $295.00 to $260.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Stifel Nicolaus lowered their target price on shares of CDW from $265.00 to $250.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Northcoast Research upgraded shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target for the company in a research note on Friday, June 7th. JPMorgan Chase & Co. lowered their price objective on CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Finally, Barclays decreased their price target 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. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company 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.