CDW Co. (NASDAQ:CDW) Shares Sold by US Bancorp DE

US Bancorp DE cut its holdings in shares of CDW Co. (NASDAQ:CDW) by 32.7% in the 3rd quarter, Holdings Channel reports. The fund owned 31,096 shares of the information technology services provider’s stock after selling 15,076 shares during the period. US Bancorp DE’s holdings in CDW were worth $7,037,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. First Trust Direct Indexing L.P. boosted its holdings in CDW by 23.5% in the first quarter. First Trust Direct Indexing L.P. now owns 2,291 shares of the information technology services provider’s stock valued at $586,000 after purchasing an additional 436 shares during the last quarter. Norden Group LLC raised its position in shares of CDW by 47.3% in the 1st quarter. Norden Group LLC now owns 3,482 shares of the information technology services provider’s stock valued at $891,000 after purchasing an additional 1,118 shares in the last quarter. Mission Wealth Management LP purchased a new position in shares of CDW during the 1st quarter valued at approximately $256,000. Janney Montgomery Scott LLC grew its position in shares of CDW by 0.4% during the first quarter. Janney Montgomery Scott LLC now owns 38,706 shares of the information technology services provider’s stock worth $9,900,000 after buying an additional 149 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its stake in shares of CDW by 1.4% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,446 shares of the information technology services provider’s stock worth $881,000 after buying an additional 47 shares during the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CDW has been the topic of a number of research analyst reports. Stifel Nicolaus increased their price objective on shares of CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Citigroup cut CDW from a “buy” rating to a “neutral” rating and cut their price objective for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Finally, Barclays decreased their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $246.71.

CDW Stock Performance

Shares of CDW stock opened at $188.38 on Monday. The company has a market cap of $25.10 billion, a P/E ratio of 23.03, a PEG ratio of 2.86 and a beta of 1.06. CDW Co. has a 52 week low of $187.73 and a 52 week high of $263.37. The company has a quick ratio of 1.02, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. The business has a 50 day moving average of $219.30 and a two-hundred day moving average of $223.23.

CDW (NASDAQ:CDW) last issued its 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). The company had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. CDW’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.60 earnings per share. As a group, analysts anticipate that CDW Co. will post 9.38 EPS for the current year.

CDW Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be given a $0.625 dividend. The ex-dividend date is Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a yield of 1.33%. CDW’s dividend payout ratio (DPR) is currently 30.32%.

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.