CDW Co. (NASDAQ:CDW) Stock Position Lessened by DRW Securities LLC

DRW Securities LLC reduced its stake in shares of CDW Co. (NASDAQ:CDW) by 18.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,041 shares of the information technology services provider’s stock after selling 239 shares during the quarter. DRW Securities LLC’s holdings in CDW were worth $236,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of CDW. Tidal Investments LLC raised its holdings in CDW by 6.7% during the first quarter. Tidal Investments LLC now owns 17,260 shares of the information technology services provider’s stock worth $4,417,000 after purchasing an additional 1,088 shares in the last quarter. Virtu Financial LLC lifted its holdings in shares of CDW by 175.9% in the first quarter. Virtu Financial LLC now owns 7,115 shares of the information technology services provider’s stock valued at $1,820,000 after buying an additional 4,536 shares during the period. LRI Investments LLC bought a new position in CDW during the first quarter valued at about $68,000. Sanibel Captiva Trust Company Inc. grew its holdings in CDW by 3.7% during the first quarter. Sanibel Captiva Trust Company Inc. now owns 7,061 shares of the information technology services provider’s stock worth $1,806,000 after acquiring an additional 250 shares during the period. Finally, Swedbank AB bought a new stake in CDW in the first quarter worth about $13,095,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Trading Down 0.6 %

NASDAQ CDW opened at $176.75 on Thursday. The firm’s 50 day moving average price is $207.78 and its two-hundred day moving average price is $217.81. The stock has a market cap of $23.55 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 5.10 and a beta of 1.05. CDW Co. has a twelve month low of $172.95 and a twelve month high of $263.37. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The business had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same period in the previous year, the firm posted $2.60 earnings per share. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. Equities analysts anticipate that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be issued a dividend of $0.625 per share. This is a boost from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Monday, November 25th. CDW’s dividend payout ratio (DPR) is currently 30.56%.

Wall Street Analyst Weigh In

CDW has been the topic of several recent research reports. Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $260.00 to $235.00 in a report on Monday, October 28th. Redburn Atlantic started coverage on CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 price objective for the company. Finally, Barclays cut their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $244.63.

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.