Flputnam Investment Management Co. Sells 2,411 Shares of CDW Corporation $CDW

Key Points

• Flputnam Investment Management Co. reduced its stake in CDW Corporation by 53.6%, ending the first quarter with 2,087 shares worth $334,000.
• Multiple research firms have adjusted price targets for CDW, with Citigroup raising it to $200, while Barclays has cut it to $176, and overall analysts maintain a consensus rating of "Hold".
• CDW has announced a quarterly dividend of $0.625 per share, set to be paid on September 10th, equating to a yield of 1.5% and a payout ratio of 31.06%.

Flputnam Investment Management Co. lessened its position in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 53.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,087 shares of the information technology services provider's stock after selling 2,411 shares during the period. Flputnam Investment Management Co.'s holdings in CDW were worth $334,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its position in CDW by 20.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 207,506 shares of the information technology services provider's stock valued at $33,255,000 after acquiring an additional 35,737 shares during the period. Unison Asset Management LLC boosted its position in CDW by 9.4% during the first quarter. Unison Asset Management LLC now owns 42,389 shares of the information technology services provider's stock valued at $6,339,000 after purchasing an additional 3,657 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of CDW by 1.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,942 shares of the information technology services provider's stock worth $963,000 after buying an additional 94 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of CDW by 8.7% in the first quarter. Sequoia Financial Advisors LLC now owns 19,995 shares of the information technology services provider's stock worth $3,204,000 after buying an additional 1,604 shares during the last quarter. Finally, OneDigital Investment Advisors LLC acquired a new position in shares of CDW during the 1st quarter worth about $212,000. Hedge funds and other institutional investors own 93.15% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Citigroup raised their price objective on CDW from $180.00 to $200.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. Barclays dropped their target price on shares of CDW from $205.00 to $176.00 and set an "equal weight" rating on the stock in a report on Thursday, August 7th. UBS Group reduced their price objective 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, JPMorgan Chase & Co. raised their price objective on shares of CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, CDW presently has an average rating of "Hold" and a consensus target price of $202.00.

CDW Trading Up 0.4%

NASDAQ CDW traded up $0.59 during trading hours on Tuesday, reaching $168.44. The company had a trading volume of 284,986 shares, compared to its average volume of 1,310,079. The stock has a 50-day moving average of $172.02 and a 200 day moving average of $170.43. The stock has a market capitalization of $22.08 billion, a P/E ratio of 20.95, a price-to-earnings-growth ratio of 2.82 and a beta of 0.98. CDW Corporation has a 1-year low of $137.31 and a 1-year high of $230.86. The company has a current ratio of 1.35, a quick ratio of 1.22 and a debt-to-equity ratio of 2.28.

CDW (NASDAQ:CDW - Get Free Report) last released its earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 EPS for the quarter, beating analysts' consensus estimates of $2.49 by $0.11. CDW had a return on equity of 53.63% and a net margin of 4.92%.The company had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter last year, the company earned $2.50 earnings per share. CDW's quarterly revenue was up 10.2% compared to the same quarter last year. As a group, research analysts anticipate that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Monday, August 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.5%. CDW's dividend payout ratio (DPR) is 31.06%.

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