CDW Co. (NASDAQ:CDW) Shares Sold by AXS Investments LLC

AXS Investments LLC trimmed its position in shares of CDW Co. (NASDAQ:CDW) by 9.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,121 shares of the information technology services provider’s stock after selling 330 shares during the period. AXS Investments LLC’s holdings in CDW were worth $608,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in CDW by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 15,723,027 shares of the information technology services provider’s stock valued at $2,812,692,000 after buying an additional 196,216 shares during the last quarter. FMR LLC boosted its position in CDW by 25.8% in the 1st quarter. FMR LLC now owns 7,062,063 shares of the information technology services provider’s stock valued at $1,376,326,000 after buying an additional 1,447,117 shares during the last quarter. Geode Capital Management LLC boosted its position in CDW by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 2,817,597 shares of the information technology services provider’s stock valued at $502,267,000 after buying an additional 77,555 shares during the last quarter. Morgan Stanley boosted its position in CDW by 130.7% in the 4th quarter. Morgan Stanley now owns 2,442,301 shares of the information technology services provider’s stock valued at $436,146,000 after buying an additional 1,383,869 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in CDW by 284.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,040,506 shares of the information technology services provider’s stock valued at $95,838,000 after buying an additional 1,509,778 shares during the last quarter. 93.04% of the stock is currently owned by institutional investors and hedge funds.

CDW Stock Performance

Shares of NASDAQ:CDW traded up $2.03 during trading hours on Friday, hitting $213.18. The stock had a trading volume of 486,522 shares, compared to its average volume of 819,477. The stock’s fifty day simple moving average is $193.91 and its 200 day simple moving average is $186.84. CDW Co. has a 1-year low of $147.91 and a 1-year high of $215.00. The firm has a market capitalization of $28.58 billion, a price-to-earnings ratio of 27.12, a PEG ratio of 1.73 and a beta of 1.10. The company has a debt-to-equity ratio of 3.55, a quick ratio of 1.14 and a current ratio of 1.30.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, August 2nd. The information technology services provider reported $2.43 EPS for the quarter, beating the consensus estimate of $2.25 by $0.18. CDW had a net margin of 4.81% and a return on equity of 83.33%. The company had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.39 billion. Sell-side analysts anticipate that CDW Co. will post 9.13 earnings per share for the current fiscal year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Friday, August 25th will be paid a dividend of $0.59 per share. The ex-dividend date is Thursday, August 24th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.11%. CDW’s dividend payout ratio is presently 30.03%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CDW. Barclays increased their price target on shares of CDW from $198.00 to $216.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 3rd. Morgan Stanley increased their price target on shares of CDW from $200.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, August 3rd. StockNews.com assumed coverage on shares of CDW in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Citigroup assumed coverage on shares of CDW in a report on Thursday, June 29th. They issued a “buy” rating and a $205.00 target price on the stock. Finally, Raymond James raised their target price on shares of CDW from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $207.00.

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, hybrid, and cloud capabilities across hybrid infrastructure, digital experience, and security.