National Bank of Canada FI Sells 40,566 Shares of CDW Co. (NASDAQ:CDW)

National Bank of Canada FI lessened its position in shares of CDW Co. (NASDAQ:CDW) by 38.0% in the first quarter, HoldingsChannel.com reports. The fund owned 66,129 shares of the information technology services provider’s stock after selling 40,566 shares during the period. National Bank of Canada FI’s holdings in CDW were worth $16,914,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Aaron Wealth Advisors LLC boosted its stake in CDW by 2.8% in the first quarter. Aaron Wealth Advisors LLC now owns 1,540 shares of the information technology services provider’s stock valued at $394,000 after buying an additional 42 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of CDW by 5.9% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 767 shares of the information technology services provider’s stock valued at $196,000 after purchasing an additional 43 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in CDW by 1.4% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,446 shares of the information technology services provider’s stock worth $881,000 after purchasing an additional 47 shares in the last quarter. Prestige Wealth Management Group LLC increased its position in CDW by 6.4% during the 4th quarter. Prestige Wealth Management Group LLC now owns 811 shares of the information technology services provider’s stock worth $184,000 after purchasing an additional 49 shares in the last quarter. Finally, Checchi Capital Advisers LLC lifted its stake in CDW by 3.4% in the 4th quarter. Checchi Capital Advisers LLC now owns 1,502 shares of the information technology services provider’s stock valued at $341,000 after purchasing an additional 50 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Trading Down 0.4 %

Shares of CDW stock traded down $0.94 during midday trading on Wednesday, reaching $229.21. The company had a trading volume of 1,007,214 shares, compared to its average volume of 789,277. The stock has a fifty day moving average price of $226.00 and a 200 day moving average price of $234.07. CDW Co. has a fifty-two week low of $184.99 and a fifty-two week high of $263.37. The firm has a market cap of $30.81 billion, a PE ratio of 28.62, a P/E/G ratio of 3.43 and a beta of 1.04. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.26 and a quick ratio of 1.13.

CDW (NASDAQ:CDW) last released 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 firm had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $4.94 billion. On average, equities analysts anticipate that CDW Co. will post 9.67 earnings per share for the current year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Friday, May 24th were issued a $0.62 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $2.48 annualized dividend and a yield of 1.08%. CDW’s payout ratio is 30.96%.

Insider Buying and Selling at CDW

In related news, insider Sona Chawla sold 18,437 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the sale, the insider now owns 22,428 shares in the company, valued at approximately $5,392,812.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

CDW has been the subject of several research analyst reports. Citigroup lowered their price target on shares of CDW from $295.00 to $260.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Barclays lowered their target price on CDW from $261.00 to $232.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Northcoast Research raised CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target on the stock in a research note on Friday, June 7th. Stifel Nicolaus upped their price objective on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a report 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. Based on data from MarketBeat, CDW presently has an average rating of “Moderate Buy” and a consensus target price of $251.11.

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