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

RiverPark Advisors LLC lessened its holdings in shares of CDW Co. (NASDAQ:CDW) by 10.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Tsfg LLC bought a new position in shares of CDW in the first quarter valued at approximately $26,000. VisionPoint Advisory Group LLC bought a new position in shares of CDW in the third quarter valued at approximately $28,000. Larson Financial Group LLC acquired a new stake in shares of CDW in the fourth quarter worth $30,000. Rise Advisors LLC acquired a new position in CDW during the 1st quarter valued at $34,000. Finally, Orion Capital Management LLC acquired a new position in CDW during the 3rd quarter valued at $35,000. Institutional investors own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CDW shares. Northcoast Research upgraded shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price for the company in a research note on Friday, June 7th. Barclays cut their target price on shares of CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Stifel Nicolaus cut their target price 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. Evercore ISI upped their target price on shares of CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research note 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 report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, CDW has an average rating of “Moderate Buy” and an average target price of $250.00.

CDW Trading Down 1.0 %

CDW stock traded down $2.07 during trading hours on Tuesday, reaching $214.80. 969,800 shares of the company’s stock traded hands, compared to its average volume of 785,314. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.13 and a current ratio of 1.26. CDW Co. has a fifty-two week low of $182.50 and a fifty-two week high of $263.37. The firm has a market capitalization of $28.87 billion, a price-to-earnings ratio of 26.82, a PEG ratio of 3.19 and a beta of 1.04. The firm’s 50 day moving average is $223.97 and its 200-day 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 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 analyst estimates of $4.94 billion. CDW had a net margin of 5.16% and a return on equity of 67.56%. On average, analysts predict that CDW Co. will post 9.67 earnings per share for the current year.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Friday, May 24th were given a $0.62 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.15%. CDW’s dividend payout ratio is 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.