Sequoia Financial Advisors LLC Sells 7,554 Shares of CDW Co. (NASDAQ:CDW)

Sequoia Financial Advisors LLC trimmed its position in shares of CDW Co. (NASDAQ:CDW) by 26.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,856 shares of the information technology services provider’s stock after selling 7,554 shares during the period. Sequoia Financial Advisors LLC’s holdings in CDW were worth $5,335,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Tsfg LLC bought a new position in CDW in the 1st quarter worth approximately $26,000. VisionPoint Advisory Group LLC acquired a new stake in CDW in the 3rd quarter worth $28,000. Larson Financial Group LLC bought a new position in shares of CDW during the 4th quarter worth about $30,000. Rise Advisors LLC acquired a new position in shares of CDW during the first quarter valued at about $34,000. Finally, Orion Capital Management LLC acquired a new position in shares of CDW during the third quarter valued at about $35,000. 93.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on CDW shares. Evercore ISI upped their price target on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Citigroup reduced their target price on CDW from $295.00 to $260.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Barclays lowered their price target on shares of CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Northcoast Research raised shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 price objective for the company in a report on Friday, June 7th. Finally, Stifel Nicolaus decreased their price objective on shares of CDW from $265.00 to $250.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, CDW presently has an average rating of “Moderate Buy” and a consensus price target of $250.00.

CDW Trading Down 0.8 %

Shares of CDW traded down $1.81 during trading hours on Friday, reaching $216.30. The stock had a trading volume of 753,742 shares, compared to its average volume of 890,578. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 2.35. The firm has a 50-day moving average of $225.09 and a 200 day moving average of $233.57. CDW Co. has a 52 week low of $180.38 and a 52 week high of $263.37. The company has a market cap of $29.07 billion, a P/E ratio of 27.00, a P/E/G ratio of 3.21 and a beta of 1.04.

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

CDW Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Friday, May 24th were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Thursday, May 23rd. CDW’s payout ratio is 30.96%.

About CDW

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.