CDW Co. (NASDAQ:CDW) Shares Sold by Swiss National Bank

Swiss National Bank decreased its holdings in shares of CDW Co. (NASDAQ:CDW) by 4.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 401,100 shares of the information technology services provider’s stock after selling 18,000 shares during the quarter. Swiss National Bank owned approximately 0.30% of CDW worth $102,593,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Graham Capital Management L.P. acquired a new stake in shares of CDW in the third quarter valued at approximately $568,000. EP Wealth Advisors LLC increased its stake in shares of CDW by 7.4% during the third quarter. EP Wealth Advisors LLC now owns 2,357 shares of the information technology services provider’s stock valued at $476,000 after acquiring an additional 163 shares during the period. VisionPoint Advisory Group LLC acquired a new position in shares of CDW during the third quarter valued at approximately $28,000. DNB Asset Management AS increased its stake in shares of CDW by 30.7% during the fourth quarter. DNB Asset Management AS now owns 48,202 shares of the information technology services provider’s stock valued at $10,957,000 after acquiring an additional 11,333 shares during the period. Finally, Boltwood Capital Management increased its stake in shares of CDW by 5.5% during the fourth quarter. Boltwood Capital Management now owns 1,722 shares of the information technology services provider’s stock valued at $391,000 after acquiring an additional 90 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Citigroup reduced their target price 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. Northcoast Research raised shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 price objective for the company in a research note on Friday, June 7th. Evercore ISI raised their price objective 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. Stifel Nicolaus decreased their price objective on shares of CDW from $265.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $250.00.

CDW Price Performance

Shares of CDW stock traded up $3.52 during trading on Monday, hitting $232.02. 95,060 shares of the company’s stock traded hands, compared to its average volume of 785,388. 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 firm’s fifty day moving average price is $224.34 and its 200 day moving average price is $233.48. CDW Co. has a twelve month low of $184.99 and a twelve month high of $263.37. The company has a market cap of $31.18 billion, a PE ratio of 28.53, a PEG ratio of 3.37 and a beta of 1.04.

CDW (NASDAQ:CDW) last issued 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). CDW had a net margin of 5.16% and a return on equity of 67.56%. The business had revenue of $4.87 billion for the quarter, compared to analyst estimates of $4.94 billion. Analysts forecast that CDW Co. will post 9.67 earnings per share 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 given a $0.62 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $2.48 dividend on an annualized basis and a yield of 1.07%. CDW’s dividend payout ratio (DPR) is presently 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.