Prelude Capital Management LLC Cuts Position in CDW Co. (NASDAQ:CDW)

Prelude Capital Management LLC lowered its position in CDW Co. (NASDAQ:CDW) by 6.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,494 shares of the information technology services provider’s stock after selling 1,551 shares during the quarter. Prelude Capital Management LLC’s holdings in CDW were worth $4,774,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of CDW by 1.3% in the first 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 in the last quarter. FMR LLC increased its position in shares of CDW by 25.8% in the first 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 in the last quarter. State Street Corp increased its position in shares of CDW by 3.0% in the first quarter. State Street Corp now owns 5,281,252 shares of the information technology services provider’s stock valued at $1,029,263,000 after buying an additional 156,066 shares in the last quarter. Longview Partners Guernsey LTD increased its position in shares of CDW by 3.3% in the first quarter. Longview Partners Guernsey LTD now owns 3,149,538 shares of the information technology services provider’s stock valued at $613,813,000 after buying an additional 100,674 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of CDW by 2.3% in the first quarter. Geode Capital Management LLC now owns 2,881,054 shares of the information technology services provider’s stock valued at $560,247,000 after buying an additional 63,457 shares in the last quarter. Hedge funds and other institutional investors own 93.04% of the company’s stock.

Analyst Upgrades and Downgrades

CDW has been the topic of a number of analyst reports. Barclays increased their price objective on CDW from $198.00 to $216.00 and gave the company an “equal weight” rating in a research note on Thursday, August 3rd. Morgan Stanley increased their price objective on CDW from $200.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, August 3rd. StockNews.com initiated coverage on CDW in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Citigroup initiated coverage on CDW in a research note on Thursday, June 29th. They set a “buy” rating and a $205.00 price objective on the stock. Finally, Raymond James increased their price objective on CDW from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, August 3rd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s 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 Stock Down 0.3 %

CDW stock traded down $0.72 during midday trading on Wednesday, hitting $208.22. 229,740 shares of the company’s stock were exchanged, compared to its average volume of 807,847. The company has a current ratio of 1.30, a quick ratio of 1.14 and a debt-to-equity ratio of 3.55. CDW Co. has a 12-month low of $147.91 and a 12-month high of $215.70. The firm has a 50 day moving average price of $198.35 and a 200-day moving average price of $186.69. The stock has a market capitalization of $27.91 billion, a price-to-earnings ratio of 26.58, a price-to-earnings-growth ratio of 1.77 and a beta of 1.08.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, August 2nd. The information technology services provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.18. CDW had a return on equity of 83.33% and a net margin of 4.81%. The company had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.39 billion. On average, analysts anticipate that CDW Co. will post 9.2 EPS for the current year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Friday, August 25th were given a $0.59 dividend. The ex-dividend date of this dividend was Thursday, August 24th. This represents a $2.36 annualized dividend and a dividend yield of 1.13%. CDW’s payout ratio is 30.03%.

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.