State of Alaska Department of Revenue Trims Stock Holdings in CDW Co. (NASDAQ:CDW)

State of Alaska Department of Revenue trimmed its position in CDW Co. (NASDAQ:CDWGet Rating) by 19.3% in the 2nd quarter, Holdings Channel reports. The firm owned 19,412 shares of the information technology services provider’s stock after selling 4,657 shares during the quarter. State of Alaska Department of Revenue’s holdings in CDW were worth $3,058,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Denali Advisors LLC bought a new position in CDW in the 1st quarter valued at $54,000. Quent Capital LLC bought a new position in CDW in the 1st quarter valued at $56,000. Brown Brothers Harriman & Co. lifted its holdings in shares of CDW by 129.5% during the 1st quarter. Brown Brothers Harriman & Co. now owns 459 shares of the information technology services provider’s stock worth $82,000 after acquiring an additional 259 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of CDW during the 1st quarter worth $103,000. Finally, Tobam bought a new stake in shares of CDW during the 1st quarter worth $113,000. 92.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Credit Suisse Group assumed coverage on shares of CDW in a report on Tuesday, August 16th. They set an “outperform” rating and a $202.00 price objective for the company. JPMorgan Chase & Co. raised shares of CDW from a “neutral” rating to an “overweight” rating and set a $200.00 price objective for the company in a report on Thursday, July 14th. Evercore ISI dropped their price objective on shares of CDW from $250.00 to $210.00 and set an “outperform” rating for the company in a report on Tuesday, June 28th. Finally, StockNews.com downgraded shares of CDW from a “buy” rating to a “hold” rating in a report on Tuesday, August 30th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $213.00.

CDW Stock Performance

CDW stock opened at $162.64 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.30 and a debt-to-equity ratio of 5.86. The company has a market capitalization of $21.98 billion, a PE ratio of 22.13, a P/E/G ratio of 1.39 and a beta of 1.13. The firm has a fifty day simple moving average of $175.19 and a two-hundred day simple moving average of $170.77. CDW Co. has a twelve month low of $152.15 and a twelve month high of $208.71.

CDW (NASDAQ:CDWGet Rating) last released its quarterly earnings data on Wednesday, August 3rd. The information technology services provider reported $2.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.05. CDW had a net margin of 4.41% and a return on equity of 132.68%. The firm had revenue of $6.15 billion for the quarter, compared to analysts’ expectations of $6.15 billion. During the same quarter in the previous year, the company earned $1.92 earnings per share. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year. Research analysts expect that CDW Co. will post 9.22 EPS for the current year.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Thursday, August 25th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Wednesday, August 24th. CDW’s payout ratio is 27.21%.

CDW Profile

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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, hybrid, and cloud capabilities across data center and networking, digital workspace, and security.

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Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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