Platform Technology Partners Sells 347 Shares of CDW Co. (NASDAQ:CDW)

Platform Technology Partners trimmed its position in CDW Co. (NASDAQ:CDW) by 8.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,690 shares of the information technology services provider’s stock after selling 347 shares during the period. Platform Technology Partners’ holdings in CDW were worth $694,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of CDW by 9.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,513 shares of the information technology services provider’s stock worth $1,165,000 after acquiring an additional 547 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of CDW during the 1st quarter worth $103,000. Panagora Asset Management Inc. lifted its holdings in shares of CDW by 160.4% during the 1st quarter. Panagora Asset Management Inc. now owns 4,645 shares of the information technology services provider’s stock worth $831,000 after acquiring an additional 2,861 shares during the last quarter. Yousif Capital Management LLC lifted its holdings in shares of CDW by 0.3% during the 1st quarter. Yousif Capital Management LLC now owns 20,523 shares of the information technology services provider’s stock worth $3,671,000 after acquiring an additional 65 shares during the last quarter. Finally, Blair William & Co. IL lifted its stake in CDW by 1.5% in the first quarter. Blair William & Co. IL now owns 33,977 shares of the information technology services provider’s stock worth $6,078,000 after purchasing an additional 515 shares during the last quarter. 93.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Raymond James upped their price target on shares of CDW from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, August 3rd. StockNews.com assumed coverage on shares of CDW in a research report on Thursday, August 17th. They set a “hold” rating for the company. Morgan Stanley upped their price target on shares of CDW from $200.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, August 3rd. Barclays upped their price objective 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. Finally, Citigroup started coverage on shares of CDW in a research note on Thursday, June 29th. They set a “buy” rating and a $205.00 price objective for the company. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, CDW currently has a consensus rating of “Moderate Buy” and an average target price of $207.00.

CDW Stock Performance

NASDAQ:CDW traded up $2.43 during mid-day trading on Monday, hitting $209.43. 168,643 shares of the company traded hands, compared to its average volume of 809,186. The stock’s fifty day moving average price is $199.85 and its 200-day moving average price is $186.83. CDW Co. has a one year low of $147.91 and a one year high of $215.70. The company has a quick ratio of 1.14, a current ratio of 1.30 and a debt-to-equity ratio of 3.55. The firm has a market cap of $28.07 billion, a price-to-earnings ratio of 26.50, a price-to-earnings-growth ratio of 1.74 and a beta of 1.08.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, August 2nd. The information technology services provider reported $2.43 earnings per share (EPS) for the quarter, beating 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 business had revenue of $5.63 billion during the quarter, compared to analyst estimates of $5.39 billion. Research analysts anticipate that CDW Co. will post 9.2 earnings per share for the current fiscal year.

CDW Announces Dividend

The firm also recently disclosed 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 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.