Nisa Investment Advisors LLC Reduces Stake in CDW Co. (NASDAQ:CDW)

Nisa Investment Advisors LLC lessened its stake in shares of CDW Co. (NASDAQ:CDW) by 20.5% during the 3rd quarter, Holdings Channel reports. The fund owned 4,986 shares of the information technology services provider’s stock after selling 1,283 shares during the quarter. Nisa Investment Advisors LLC’s holdings in CDW were worth $1,128,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CDW. Quest Partners LLC acquired a new position in CDW in the 2nd quarter valued at about $35,000. ORG Partners LLC purchased a new position in CDW in the second quarter worth approximately $34,000. Canoe Financial LP acquired a new stake in CDW during the third quarter worth $37,000. Summit Securities Group LLC purchased a new stake in CDW in the second quarter valued at $40,000. Finally, Continuum Advisory LLC lifted its stake in shares of CDW by 1,692.3% in the 2nd quarter. Continuum Advisory LLC now owns 233 shares of the information technology services provider’s stock valued at $52,000 after purchasing an additional 220 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

Wall Street Analyst Weigh In

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

CDW Trading Up 0.1 %

Shares of CDW stock opened at $188.38 on Monday. CDW Co. has a fifty-two week low of $187.73 and a fifty-two week high of $263.37. The company has a 50 day moving average price of $219.30 and a 200 day moving average price of $223.23. The stock has a market capitalization of $25.10 billion, a P/E ratio of 23.03, a price-to-earnings-growth ratio of 2.86 and a beta of 1.06. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.02 and a current ratio of 1.40.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 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 analyst estimates of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The business’s revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.60 EPS. Equities research analysts predict that CDW Co. will post 9.38 EPS for the current fiscal year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be given a $0.625 dividend. 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%. This is a positive change from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio (DPR) is currently 30.32%.

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.