InterOcean Capital Group LLC Decreases Stake in CDW Co. (NASDAQ:CDW)

InterOcean Capital Group LLC lessened its stake in CDW Co. (NASDAQ:CDW) by 6.9% in the 1st quarter, according to its most recent filing with the SEC. The firm 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 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Tsfg LLC purchased a new stake in CDW during the first quarter worth approximately $26,000. Larson Financial Group LLC purchased a new stake in CDW during the fourth quarter worth approximately $30,000. Rise Advisors LLC purchased a new stake in CDW during the first quarter worth approximately $34,000. ORG Partners LLC purchased a new stake in CDW during the fourth quarter worth approximately $36,000. Finally, Oakworth Capital Inc. purchased a new stake in CDW during the fourth quarter worth approximately $36,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Insider Activity

In related news, insider Sona Chawla sold 18,437 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the transaction, the insider now owns 22,428 shares of the company’s stock, valued at $5,392,812.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CDW shares. Citigroup decreased their target price on CDW from $295.00 to $260.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. JPMorgan Chase & Co. reduced their price objective on CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Barclays reduced their price objective 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. Stifel Nicolaus boosted their price objective on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, Northcoast Research upgraded 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. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $251.11.

CDW Stock Performance

Shares of NASDAQ:CDW traded down $0.59 during trading on Thursday, reaching $228.62. The company had a trading volume of 642,170 shares, compared to its average volume of 788,237. The firm has a market capitalization of $30.73 billion, a price-to-earnings ratio of 28.64, a price-to-earnings-growth ratio of 3.39 and a beta of 1.04. 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 stock’s fifty day moving average price is $226.12 and its 200 day moving average price is $234.04. CDW Co. has a fifty-two week low of $184.99 and a fifty-two week high of $263.37.

CDW (NASDAQ:CDW) last released its 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 company 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%. As a group, equities research analysts predict that CDW Co. will post 9.67 EPS for the current year.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Friday, May 24th were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Thursday, May 23rd. CDW’s payout ratio is currently 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.