Strategic Blueprint LLC Sells 250 Shares of CDW Co. (NASDAQ:CDW)

Strategic Blueprint LLC reduced its position in shares of CDW Co. (NASDAQ:CDW) by 10.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,099 shares of the information technology services provider’s stock after selling 250 shares during the quarter. Strategic Blueprint LLC’s holdings in CDW were worth $475,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CDW. ORG Partners LLC bought a new position in shares of CDW during the 2nd quarter valued at approximately $34,000. Quest Partners LLC bought a new position in shares of CDW during the 2nd quarter valued at approximately $35,000. Canoe Financial LP bought a new position in shares of CDW during the 3rd quarter valued at approximately $37,000. Fortitude Family Office LLC boosted its position in shares of CDW by 350.0% during the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after acquiring an additional 133 shares during the last quarter. Finally, Summit Securities Group LLC bought a new position in shares of CDW during the 2nd quarter valued at approximately $40,000. 93.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and decreased their price target for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $260.00 to $235.00 in a report on Monday. Barclays decreased their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, Stifel Nicolaus increased their price target on CDW from $250.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, CDW has a consensus rating of “Hold” and a consensus price target of $246.71.

CDW Stock Performance

CDW stock opened at $188.23 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 2.03. The business’s fifty day simple moving average is $220.86 and its two-hundred day simple moving average is $223.97. CDW Co. has a twelve month low of $185.04 and a twelve month high of $263.37. The firm has a market cap of $25.14 billion, a price-to-earnings ratio of 23.01, a PEG ratio of 3.42 and a beta of 1.03.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.05). CDW had a return on equity of 62.22% and a net margin of 5.29%. The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter in the previous year, the business earned $2.43 EPS. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. Analysts predict that CDW Co. will post 9.4 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 paid a $0.625 dividend. This is a positive change from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.33%. CDW’s dividend payout ratio (DPR) is presently 30.56%.

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.