State of Alaska Department of Revenue Sells 4,657 Shares of CDW Co. (NASDAQ:CDW)

State of Alaska Department of Revenue lessened its holdings in CDW Co. (NASDAQ:CDWGet Rating) by 19.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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.

A number of other large investors have also added to or reduced their stakes in the business. Denali Advisors LLC bought a new position in CDW during the 1st quarter worth approximately $54,000. Quent Capital LLC bought a new stake in shares of CDW in the 1st quarter valued at $56,000. Brown Brothers Harriman & Co. increased its stake in shares of CDW by 129.5% in the 1st quarter. Brown Brothers Harriman & Co. now owns 459 shares of the information technology services provider’s stock valued at $82,000 after acquiring an additional 259 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of CDW in the 1st quarter valued at $103,000. Finally, Tobam bought a new stake in shares of CDW in the 1st quarter valued at $113,000. Institutional investors own 92.45% of the company’s stock.

CDW Stock Performance

NASDAQ CDW opened at $162.64 on Friday. The company has a fifty day simple moving average of $175.19 and a 200 day simple moving average of $170.77. CDW Co. has a 12-month low of $152.15 and a 12-month high of $208.71. The company has a current ratio of 1.30, a quick ratio of 1.11 and a debt-to-equity ratio of 5.86. The company has a market cap of $21.98 billion, a P/E ratio of 22.13, a PEG ratio of 1.39 and a beta of 1.13.

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

CDW Dividend Announcement

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

Analyst Ratings Changes

CDW has been the subject of several research analyst reports. Credit Suisse Group initiated coverage on shares of CDW in a research note on Tuesday, August 16th. They issued an “outperform” rating and a $202.00 price objective for the company. StockNews.com lowered shares of CDW from a “buy” rating to a “hold” rating in a research note on Tuesday, August 30th. JPMorgan Chase & Co. upgraded shares of CDW from a “neutral” rating to an “overweight” rating and set a $200.00 price objective for the company in a research note on Thursday, July 14th. Finally, Evercore ISI reduced their price target on shares of CDW from $250.00 to $210.00 and set an “outperform” rating for the company in a research report on Tuesday, June 28th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $213.00.

CDW Company 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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