CDW Corporation $CDW Shares Sold by Rafferty Asset Management LLC

Rafferty Asset Management LLC trimmed its position in shares of CDW Corporation (NASDAQ:CDW) by 5.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 112,459 shares of the information technology services provider’s stock after selling 6,535 shares during the period. Rafferty Asset Management LLC’s holdings in CDW were worth $18,023,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. GW&K Investment Management LLC grew its position in CDW by 78.9% during the first quarter. GW&K Investment Management LLC now owns 170 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 75 shares during the period. Orion Capital Management LLC purchased a new position in shares of CDW in the 4th quarter worth about $30,000. Bayforest Capital Ltd acquired a new position in shares of CDW in the 1st quarter valued at about $31,000. Pandora Wealth Inc. purchased a new stake in shares of CDW during the 1st quarter worth about $32,000. Finally, Stone House Investment Management LLC purchased a new position in CDW in the first quarter valued at approximately $34,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Stock Performance

NASDAQ:CDW opened at $163.67 on Wednesday. The firm has a 50-day moving average of $173.73 and a two-hundred day moving average of $172.13. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.35 and a quick ratio of 1.22. The stock has a market cap of $21.45 billion, a P/E ratio of 20.33, a PEG ratio of 2.77 and a beta of 0.95. CDW Corporation has a 1-year low of $137.31 and a 1-year high of $230.86.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 EPS for the quarter, topping the consensus estimate of $2.49 by $0.11. The business had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $5.51 billion. CDW had a return on equity of 53.63% and a net margin of 4.92%.The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.50 earnings per share. On average, research analysts expect that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 25th will be paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Monday, August 25th. CDW’s dividend payout ratio is 31.06%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Barclays decreased their price objective on shares of CDW from $205.00 to $176.00 and set an “equal weight” rating for the company in a research note on Thursday, August 7th. JPMorgan Chase & Co. lifted their target price on shares of CDW from $185.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. UBS Group decreased their price target on shares of CDW from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. Finally, Citigroup raised their price objective on CDW from $180.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, July 11th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, CDW has a consensus rating of “Hold” and an average target price of $202.00.

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.