CDW Co. (NASDAQ:CDW) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in CDW Co. (NASDAQ:CDW) by 2.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,033 shares of the information technology services provider’s stock after selling 695 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CDW were worth $6,118,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Quest Partners LLC purchased a new position in CDW in the second quarter valued at $35,000. ORG Partners LLC purchased a new position in CDW in the second quarter valued at approximately $34,000. Canoe Financial LP acquired a new stake in CDW during the third quarter worth approximately $37,000. Fortitude Family Office LLC lifted 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 worth $39,000 after buying an additional 133 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new position in shares of CDW in the 2nd quarter valued at $40,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Performance

NASDAQ CDW opened at $175.93 on Monday. The stock has a market capitalization of $23.44 billion, a price-to-earnings ratio of 21.51, a PEG ratio of 4.94 and a beta of 1.05. The business’s 50 day moving average is $204.87 and its two-hundred day moving average is $216.89. CDW Co. has a 12-month low of $172.95 and a 12-month high of $263.37. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). CDW had a return on equity of 58.31% and a net margin of 5.33%. The business had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same period in the prior year, the company earned $2.60 EPS. The company’s revenue was down 2.0% on a year-over-year basis. Research analysts expect that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be paid a $0.625 dividend. This is a boost from CDW’s previous quarterly dividend of $0.62. The ex-dividend date is Monday, November 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.42%. CDW’s dividend payout ratio (DPR) is 30.56%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Citigroup cut 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 report on Tuesday, October 1st. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Barclays lowered their target price on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Finally, Redburn Atlantic assumed coverage on shares of CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CDW presently has a consensus rating of “Moderate Buy” and an average target price of $244.63.

About CDW

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.