RiverPark Advisors LLC Sells 690 Shares of CDW Co. (NASDAQ:CDW)

RiverPark Advisors LLC trimmed its stake in shares of CDW Co. (NASDAQ:CDW) by 10.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 5,644 shares of the information technology services provider’s stock after selling 690 shares during the quarter. RiverPark Advisors LLC’s holdings in CDW were worth $1,444,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Lido Advisors LLC lifted its position in shares of CDW by 4.7% during the 3rd quarter. Lido Advisors LLC now owns 5,558 shares of the information technology services provider’s stock worth $1,121,000 after buying an additional 249 shares during the last quarter. Scotia Capital Inc. lifted its position in shares of CDW by 1.5% during the 3rd quarter. Scotia Capital Inc. now owns 3,495 shares of the information technology services provider’s stock worth $705,000 after buying an additional 50 shares during the last quarter. Schroder Investment Management Group lifted its position in shares of CDW by 4.9% during the 3rd quarter. Schroder Investment Management Group now owns 76,267 shares of the information technology services provider’s stock worth $15,388,000 after buying an additional 3,551 shares during the last quarter. Royal Bank of Canada lifted its position in shares of CDW by 54.3% during the 3rd quarter. Royal Bank of Canada now owns 561,366 shares of the information technology services provider’s stock worth $113,261,000 after buying an additional 197,479 shares during the last quarter. Finally, Dana Investment Advisors Inc. lifted its position in shares of CDW by 8.6% during the 3rd quarter. Dana Investment Advisors Inc. now owns 3,154 shares of the information technology services provider’s stock worth $636,000 after buying an additional 249 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

CDW Trading Down 1.0 %

CDW traded down $2.07 on Tuesday, hitting $214.80. The company had a trading volume of 969,800 shares, compared to its average volume of 785,314. The company has a market cap of $28.87 billion, a PE ratio of 26.82, a PEG ratio of 3.19 and a beta of 1.04. CDW Co. has a 12-month low of $182.50 and a 12-month high of $263.37. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 2.35. The business’s fifty day simple moving average is $223.97 and its 200 day simple moving average is $233.57.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 earnings per share (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 analysts’ expectations of $4.94 billion. CDW had a net margin of 5.16% and a return on equity of 67.56%. Equities research analysts expect that CDW Co. will post 9.67 EPS for the current year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Friday, May 24th were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Thursday, May 23rd. CDW’s dividend payout ratio (DPR) is presently 30.96%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Citigroup lowered their target price on 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 CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price for the company in a report on Friday, June 7th. JPMorgan Chase & Co. lowered their target price on CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Stifel Nicolaus lowered their target price on CDW from $265.00 to $250.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Finally, Barclays decreased their price target on CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has an average 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.