CDW Co. (NASDAQ:CDW) Holdings Lessened by Groesbeck Investment Management Corp NJ

Groesbeck Investment Management Corp NJ decreased its position in shares of CDW Co. (NASDAQ:CDW) by 5.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,870 shares of the information technology services provider’s stock after selling 700 shares during the quarter. CDW makes up about 2.9% of Groesbeck Investment Management Corp NJ’s holdings, making the stock its 8th largest position. Groesbeck Investment Management Corp NJ’s holdings in CDW were worth $2,240,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CDW. PDS Planning Inc boosted its stake in shares of CDW by 4.3% during the third quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock worth $268,000 after buying an additional 49 shares during the period. OneAscent Wealth Management LLC lifted its position in CDW by 2.5% in the third quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock valued at $540,000 after purchasing an additional 58 shares during the period. Fulcrum Equity Management lifted its position in CDW by 4.3% in the third quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock valued at $326,000 after purchasing an additional 60 shares during the period. WCM Investment Management LLC lifted its position in CDW by 4.6% in the third quarter. WCM Investment Management LLC now owns 1,380 shares of the information technology services provider’s stock valued at $313,000 after purchasing an additional 61 shares during the period. Finally, Harbour Trust & Investment Management Co lifted its position in CDW by 0.3% in the third quarter. Harbour Trust & Investment Management Co now owns 20,869 shares of the information technology services provider’s stock valued at $4,723,000 after purchasing an additional 62 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

CDW has been the subject of a number of recent analyst reports. Redburn Atlantic initiated coverage on shares of CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective for the company. Barclays reduced their price target 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, October 31st. UBS Group reduced their price target on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Finally, Morgan Stanley lifted their price target on shares of CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a research report on Monday, December 16th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, CDW presently has a consensus rating of “Moderate Buy” and an average target price of $239.33.

CDW Trading Up 0.5 %

Shares of CDW opened at $199.34 on Wednesday. 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 firm has a 50 day simple moving average of $182.49 and a 200-day simple moving average of $202.62. CDW Co. has a 1-year low of $168.43 and a 1-year high of $263.37. The stock has a market cap of $26.56 billion, a price-to-earnings ratio of 24.37, a price-to-earnings-growth ratio of 5.39 and a beta of 1.01.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.25%. This is a boost from CDW’s previous quarterly dividend of $0.62. The ex-dividend date was Monday, November 25th. CDW’s dividend payout ratio (DPR) is 30.56%.

CDW Company 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.