First Hawaiian Bank Has $3 Million Stake in CDW Co. (NASDAQ:CDW)

First Hawaiian Bank lowered its holdings in shares of CDW Co. (NASDAQ:CDW) by 13.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 17,246 shares of the information technology services provider’s stock after selling 2,725 shares during the quarter. First Hawaiian Bank’s holdings in CDW were worth $3,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quest Partners LLC acquired a new position in shares of CDW in the 2nd quarter worth approximately $35,000. Canoe Financial LP bought a new stake in CDW in the third quarter valued at $37,000. Fortitude Family Office LLC raised its stake in CDW by 350.0% during the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 133 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of CDW during the third quarter valued at $43,000. Finally, Covestor Ltd lifted its holdings in shares of CDW by 80.1% during the third quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock valued at $55,000 after acquiring an additional 109 shares during the period. Institutional investors own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CDW. Citigroup cut 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 research report on Tuesday, October 1st. 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. Redburn Atlantic started coverage on CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 target price on the stock. UBS Group dropped their price target on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Barclays cut their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.33.

CDW Stock Up 0.2 %

NASDAQ:CDW opened at $181.34 on Thursday. The company has a market cap of $24.17 billion, a price-to-earnings ratio of 22.17, a P/E/G ratio of 5.01 and a beta of 1.01. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. The stock’s fifty day moving average price is $180.54 and its two-hundred day moving average price is $207.16. CDW Co. has a 52-week low of $168.43 and a 52-week high of $263.37.

CDW (NASDAQ:CDW) last issued its quarterly 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 firm had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The company’s revenue was down 2.0% compared to the same quarter last year. During the same period last year, the company earned $2.60 EPS. On average, analysts anticipate that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

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

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.