CDW Co. (NASDAQ:CDW) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. trimmed its position in shares of CDW Co. (NASDAQ:CDW) by 0.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 347,025 shares of the information technology services provider’s stock after selling 1,359 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in CDW were worth $88,762,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CDW. Tsfg LLC acquired a new position in CDW during the first quarter valued at approximately $26,000. Rise Advisors LLC acquired a new position in shares of CDW during the 1st quarter valued at $34,000. Larson Financial Group LLC purchased a new stake in CDW during the 4th quarter worth $30,000. VisionPoint Advisory Group LLC acquired a new stake in CDW in the 3rd quarter valued at $28,000. Finally, ORG Partners LLC purchased a new position in CDW in the fourth quarter valued at about $36,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Stock Down 0.5 %

Shares of NASDAQ:CDW opened at $218.11 on Friday. The firm has a market cap of $29.31 billion, a PE ratio of 27.23, a price-to-earnings-growth ratio of 3.23 and a beta of 1.04. The company has a fifty day simple moving average of $225.61 and a 200 day simple moving average of $233.62. 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 12-month low of $180.38 and a 12-month high of $263.37.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 earnings per share 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 the consensus estimate of $4.94 billion. CDW had a return on equity of 67.56% and a net margin of 5.16%. On average, equities research analysts anticipate that CDW Co. will post 9.67 EPS 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 paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 1.14%. The ex-dividend date was Thursday, May 23rd. CDW’s payout ratio is currently 30.96%.

Analyst Ratings Changes

CDW has been the subject of several analyst reports. Citigroup decreased their target price on CDW from $295.00 to $260.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. JPMorgan Chase & Co. lowered their price objective 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. Stifel Nicolaus reduced their target price on shares of CDW from $265.00 to $250.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Barclays lowered their price target on shares of CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Finally, Evercore ISI lifted their price target on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently 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.