GLOBALT Investments LLC GA Trims Stock Position in CDW Co. (NASDAQ:CDW)

GLOBALT Investments LLC GA decreased its holdings in CDW Co. (NASDAQ:CDW) by 4.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 17,641 shares of the information technology services provider’s stock after selling 764 shares during the quarter. GLOBALT Investments LLC GA’s holdings in CDW were worth $3,992,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CDW shares. Barclays reduced their price target on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. JPMorgan Chase & Co. downgraded 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 research report on Monday, October 28th. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and dropped their price target for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Finally, Redburn Atlantic initiated coverage on CDW in a report on Friday. They set a “buy” rating and a $230.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $244.63.

CDW Trading Down 1.7 %

CDW stock opened at $177.63 on Monday. CDW Co. has a twelve month low of $175.94 and a twelve month high of $263.37. The stock has a market capitalization of $23.67 billion, a price-to-earnings ratio of 21.72, a price-to-earnings-growth ratio of 4.96 and a beta of 1.05. 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’s fifty day simple moving average is $213.49 and its two-hundred day simple moving average is $219.94.

CDW (NASDAQ:CDW) last released its quarterly earnings data 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). 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 analysts’ expectations of $5.72 billion. During the same period last year, the firm earned $2.60 earnings per share. CDW’s quarterly revenue was down 2.0% on a year-over-year basis. As a group, analysts anticipate that CDW Co. will post 9.05 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 given a dividend of $0.625 per share. This is an increase 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 1.41%. CDW’s dividend payout ratio (DPR) is 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.