CDW Co. (NASDAQ:CDW) Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH reduced its position in shares of CDW Co. (NASDAQ:CDWFree Report) by 18.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,974 shares of the information technology services provider’s stock after selling 2,495 shares during the period. Allianz Asset Management GmbH’s holdings in CDW were worth $2,495,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CDW. Janney Montgomery Scott LLC boosted its position in CDW by 0.6% during the third quarter. Janney Montgomery Scott LLC now owns 38,014 shares of the information technology services provider’s stock worth $7,670,000 after acquiring an additional 210 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of CDW by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 724,474 shares of the information technology services provider’s stock worth $146,170,000 after purchasing an additional 6,379 shares during the last quarter. Pathstone Family Office LLC grew its position in shares of CDW by 299.2% in the third quarter. Pathstone Family Office LLC now owns 5,233 shares of the information technology services provider’s stock valued at $1,056,000 after purchasing an additional 3,922 shares in the last quarter. Aptus Capital Advisors LLC increased its holdings in shares of CDW by 12.5% in the third quarter. Aptus Capital Advisors LLC now owns 2,148 shares of the information technology services provider’s stock valued at $433,000 after purchasing an additional 238 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in CDW by 820.4% during the third quarter. Canada Pension Plan Investment Board now owns 39,266 shares of the information technology services provider’s stock worth $7,922,000 after buying an additional 35,000 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

CDW has been the subject of a number of recent research reports. Northcoast Research raised CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price for the company in a research note on Friday. Evercore ISI lifted their target price on shares of CDW from $250.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Barclays dropped their price target on shares of CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Stifel Nicolaus reduced their price target on shares of CDW from $265.00 to $250.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. cut their target price on CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CDW currently has an average rating of “Moderate Buy” and an average price target of $250.00.

View Our Latest Report on CDW

CDW Price Performance

CDW stock opened at $224.24 on Friday. The business’s fifty day moving average price is $233.36 and its 200 day moving average price is $232.26. CDW Co. has a 12-month low of $168.49 and a 12-month high of $263.37. The company has a market capitalization of $30.14 billion, a PE ratio of 28.00, a P/E/G ratio of 3.27 and a beta of 1.06. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 2.35.

CDW (NASDAQ:CDWGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($0.15). CDW had a return on equity of 67.56% and a net margin of 5.16%. The business had revenue of $4.87 billion for the quarter, compared to analyst estimates of $4.94 billion. On average, sell-side analysts anticipate that CDW Co. will post 9.67 EPS for the current year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Friday, May 24th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Thursday, May 23rd. CDW’s dividend payout ratio is currently 30.96%.

About CDW

(Free Report)

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

Further Reading

Institutional Ownership by Quarter for CDW (NASDAQ:CDW)

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