Matrix Private Capital Group LLC Sells 504 Shares of CDW Co. (NASDAQ:CDW)

Matrix Private Capital Group LLC cut its stake in CDW Co. (NASDAQ:CDW) by 22.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,769 shares of the information technology services provider’s stock after selling 504 shares during the period. Matrix Private Capital Group LLC’s holdings in CDW were worth $345,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Hartford Investment Management Co. boosted its position in shares of CDW by 16.1% during the 1st quarter. Hartford Investment Management Co. now owns 11,839 shares of the information technology services provider’s stock valued at $2,307,000 after purchasing an additional 1,639 shares in the last quarter. Arizona State Retirement System grew its position in shares of CDW by 2.8% during the 1st quarter. Arizona State Retirement System now owns 39,362 shares of the information technology services provider’s stock worth $7,671,000 after buying an additional 1,081 shares during the period. MCF Advisors LLC increased its stake in shares of CDW by 36.6% in the 1st quarter. MCF Advisors LLC now owns 403 shares of the information technology services provider’s stock valued at $79,000 after acquiring an additional 108 shares in the last quarter. ETF Managers Group LLC lifted its position in shares of CDW by 4.2% during the 4th quarter. ETF Managers Group LLC now owns 3,999 shares of the information technology services provider’s stock valued at $714,000 after acquiring an additional 161 shares during the period. Finally, Nicolet Advisory Services LLC lifted its position in shares of CDW by 79.0% during the 1st quarter. Nicolet Advisory Services LLC now owns 3,128 shares of the information technology services provider’s stock valued at $580,000 after acquiring an additional 1,381 shares during the period. Institutional investors own 93.04% of the company’s stock.

CDW Trading Down 0.1 %

NASDAQ CDW opened at $212.67 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.14 and a debt-to-equity ratio of 3.55. The firm has a market capitalization of $28.51 billion, a P/E ratio of 27.06, a PEG ratio of 1.77 and a beta of 1.08. The business has a fifty day simple moving average of $197.28 and a 200 day simple moving average of $186.72. CDW Co. has a 12 month low of $147.91 and a 12 month high of $215.70.

CDW (NASDAQ:CDW) last announced its 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 during the quarter, compared to the consensus estimate of $5.39 billion. On average, analysts predict that CDW Co. will post 9.2 EPS for the current fiscal year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Friday, August 25th will be paid a $0.59 dividend. 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 payout ratio is presently 30.03%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CDW. Morgan Stanley lifted their price target on shares of CDW from $200.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, August 3rd. Citigroup assumed coverage on CDW in a report on Thursday, June 29th. They issued a “buy” rating and a $205.00 price target on the stock. StockNews.com started coverage on CDW in a report on Thursday, August 17th. They set a “hold” rating for the company. Raymond James increased their target price on CDW from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. Finally, Barclays boosted their price target on shares of CDW from $198.00 to $216.00 and gave the company an “equal weight” rating in a research note on Thursday, August 3rd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $207.00.

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