Prospera Financial Services Inc Has $222,000 Stake in CDW Co. (NASDAQ:CDW)

Prospera Financial Services Inc reduced its stake in shares of CDW Co. (NASDAQ:CDW) by 22.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 981 shares of the information technology services provider’s stock after selling 289 shares during the quarter. Prospera Financial Services Inc’s holdings in CDW were worth $222,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Peak Financial Advisors LLC bought a new position in CDW during the 2nd quarter worth approximately $2,854,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in shares of CDW during the third quarter worth $12,761,000. Virtu Financial LLC grew its holdings in shares of CDW by 175.9% in the 1st 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. Raymond James & Associates increased its position in shares of CDW by 16.6% in the 2nd quarter. Raymond James & Associates now owns 139,711 shares of the information technology services provider’s stock valued at $31,273,000 after buying an additional 19,867 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in CDW by 12.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 599,900 shares of the information technology services provider’s stock worth $135,758,000 after buying an additional 68,023 shares during the period. 93.15% of the stock is owned by institutional investors.

CDW Stock Performance

Shares of CDW opened at $181.34 on Tuesday. The stock has a market capitalization of $24.17 billion, a price-to-earnings ratio of 22.17, a PEG 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. The firm has a fifty day simple moving average of $209.49 and a 200 day simple moving average of $218.42. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39.

CDW (NASDAQ:CDW) last announced its quarterly earnings data 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 company had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the previous year, the business earned $2.60 EPS. CDW’s revenue was down 2.0% on a year-over-year basis. Research analysts forecast that CDW Co. will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CDW shares. Redburn Atlantic initiated coverage on CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price target for the company. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Barclays reduced their price target on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and dropped their price objective 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $244.63.

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.