InterOcean Capital Group LLC Lowers Position in CDW Co. (NASDAQ:CDW)

InterOcean Capital Group LLC lessened its stake in CDW Co. (NASDAQ:CDW) by 6.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,722 shares of the information technology services provider’s stock after selling 203 shares during the quarter. InterOcean Capital Group LLC’s holdings in CDW were worth $696,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Tsfg LLC purchased a new position in shares of CDW in the first quarter worth $26,000. Larson Financial Group LLC bought a new stake in CDW in the fourth quarter worth $30,000. Rise Advisors LLC bought a new stake in CDW in the first quarter worth $34,000. ORG Partners LLC bought a new stake in CDW in the fourth quarter worth $36,000. Finally, Oakworth Capital Inc. bought a new stake in CDW in the fourth quarter worth $36,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Wall Street Analysts Forecast Growth

CDW has been the topic of several research reports. JPMorgan Chase & Co. reduced their price target on shares of CDW from $280.00 to $265.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Barclays cut their price objective on shares of CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Stifel Nicolaus boosted their price objective on shares of CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Northcoast Research upgraded shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 price objective on the stock in a research report on Friday, June 7th. Finally, Citigroup lowered their target price on shares of CDW from $295.00 to $260.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CDW presently has an average rating of “Moderate Buy” and a consensus target price of $251.11.

Insider Buying and Selling

In related news, insider Sona Chawla sold 18,437 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $240.45, for a total value of $4,433,176.65. Following the completion of the sale, the insider now directly owns 22,428 shares of the company’s stock, valued at $5,392,812.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.90% of the stock is owned by insiders.

CDW Trading Down 0.3 %

Shares of CDW traded down $0.59 during trading hours on Thursday, reaching $228.62. 642,170 shares of the company traded hands, compared to its average volume of 788,237. The firm has a market cap of $30.73 billion, a price-to-earnings ratio of 28.64, a PEG ratio of 3.39 and a beta of 1.04. CDW Co. has a 12-month low of $184.99 and a 12-month high of $263.37. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 2.35. The stock’s fifty day moving average price is $226.12 and its 200 day moving average price is $234.04.

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

CDW Dividend Announcement

The firm also recently disclosed 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 1.08%. The ex-dividend date was Thursday, May 23rd. CDW’s dividend payout ratio (DPR) is presently 30.96%.

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.