Pathstone Holdings LLC Sells 957 Shares of CDW Co. (NASDAQ:CDW)

Pathstone Holdings LLC lowered its holdings in CDW Co. (NASDAQ:CDW) by 8.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,626 shares of the information technology services provider’s stock after selling 957 shares during the quarter. Pathstone Holdings LLC’s holdings in CDW were worth $2,405,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. ORG Partners LLC acquired a new position in shares of CDW in the 2nd quarter worth approximately $34,000. Quest Partners LLC bought a new stake in CDW in the second quarter valued at $35,000. Canoe Financial LP bought a new position in shares of CDW during the third quarter valued at $37,000. Fortitude Family Office LLC boosted its stake in shares of CDW by 350.0% in the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 133 shares in the last quarter. Finally, Summit Securities Group LLC bought a new stake in shares of CDW in the 2nd quarter worth about $40,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Trading Up 1.7 %

Shares of CDW opened at $181.34 on Tuesday. The stock’s fifty day simple moving average is $209.49 and its 200-day simple moving average is $218.42. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. The firm has a market capitalization of $24.17 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 5.03 and a beta of 1.05. CDW Co. has a 12-month low of $172.95 and a 12-month high of $263.37.

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

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Monday, November 25th. This is a positive change from CDW’s previous quarterly dividend of $0.62. CDW’s payout ratio is currently 30.56%.

Analyst Upgrades and Downgrades

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

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.