Commerce Bank Sells 1,622 Shares of CDW Co. (NASDAQ:CDW)

Commerce Bank lessened its stake in shares of CDW Co. (NASDAQ:CDW) by 3.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,717 shares of the information technology services provider’s stock after selling 1,622 shares during the quarter. Commerce Bank’s holdings in CDW were worth $9,667,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CDW. RDA Financial Network boosted its position in shares of CDW by 3.0% during the second quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider’s stock valued at $355,000 after purchasing an additional 46 shares in the last quarter. PDS Planning Inc lifted its position in CDW by 4.3% in the 3rd quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock valued at $268,000 after acquiring an additional 49 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of CDW by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 11,541 shares of the information technology services provider’s stock worth $2,583,000 after purchasing an additional 54 shares during the last quarter. Profund Advisors LLC boosted its position in shares of CDW by 0.5% during the second quarter. Profund Advisors LLC now owns 12,469 shares of the information technology services provider’s stock valued at $2,791,000 after buying an additional 58 shares during the last quarter. Finally, OneAscent Wealth Management LLC increased its holdings in CDW by 2.5% in the 3rd quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock worth $540,000 after buying an additional 58 shares in the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

CDW stock opened at $177.91 on Friday. CDW Co. has a 1-year low of $172.95 and a 1-year high of $263.37. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. The stock has a market cap of $23.71 billion, a price-to-earnings ratio of 21.75, a price-to-earnings-growth ratio of 4.86 and a beta of 1.05. The firm has a 50 day simple moving average of $211.13 and a 200-day simple moving average of $219.03.

CDW (NASDAQ:CDW) last released 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 firm had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.72 billion. CDW had a return on equity of 58.31% and a net margin of 5.33%. The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.60 earnings per share. On average, analysts expect that CDW Co. will post 9.05 EPS for the current year.

CDW Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, November 25th. This is a boost from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a yield of 1.41%. CDW’s dividend payout ratio (DPR) is currently 30.32%.

Analysts Set New Price Targets

CDW has been the subject of a number of research reports. Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and decreased their target price for the company from $250.00 to $245.00 in a research note on Tuesday, October 1st. Barclays decreased their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $260.00 to $235.00 in a report on Monday, October 28th. Finally, Redburn Atlantic initiated coverage on CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 price objective for the company. Four investment 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, CDW presently has a consensus rating of “Moderate Buy” and an average target price of $244.63.

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.