Park Avenue Securities LLC Sells 55 Shares of CDW Co. (NASDAQ:CDW)

Park Avenue Securities LLC cut its holdings in shares of CDW Co. (NASDAQ:CDW) by 2.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,638 shares of the information technology services provider’s stock after selling 55 shares during the period. Park Avenue Securities LLC’s holdings in CDW were worth $675,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wedmont Private Capital grew its position in shares of 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 purchasing an additional 58 shares during the period. Czech National Bank increased its position in shares of CDW by 0.5% during the first 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 in the last quarter. Alaska Permanent Fund Corp acquired a new stake in shares of CDW during the first quarter worth $105,000. Massmutual Trust Co. FSB ADV lifted its position in CDW by 5.9% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 767 shares of the information technology services provider’s stock valued at $196,000 after acquiring an additional 43 shares in the last quarter. Finally, Rise Advisors LLC bought a new stake in CDW in the 1st quarter valued at $34,000. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Stock Performance

Shares of CDW opened at $224.06 on Friday. The company has a market cap of $30.11 billion, a PE ratio of 27.97, a price-to-earnings-growth ratio of 3.31 and a beta of 1.06. The firm has a 50-day moving average of $227.60 and a 200-day moving average of $233.59. CDW Co. has a one year low of $176.05 and a one year high of $263.37. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.26 and a quick ratio of 1.13.

CDW (NASDAQ:CDW) last posted its quarterly earnings results 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 business 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%. As a group, equities analysts forecast 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 $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Thursday, May 23rd. CDW’s dividend payout ratio (DPR) is presently 30.96%.

Analyst Ratings Changes

A number of analysts have recently commented on CDW shares. Stifel Nicolaus cut their price target on CDW from $265.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Northcoast Research raised CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target for the company in a research report on Friday, June 7th. Barclays lowered their price objective on shares of CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Evercore ISI increased their target price on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Finally, Citigroup lowered their price target on shares of CDW from $295.00 to $260.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $250.00.

CDW Company 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.